5 Whatever resource you choose, just make sure it's updated for the current tax year. I bought a highly recommended book on Amazon last year only to discover it was referencing tax laws from 2018 that had changed. Wasted so much time learning outdated info!

I completely understand that tax anxiety! As someone who also runs a small business, I found that starting with the IRS's own Publication 334 "Tax Guide for Small Business" was really helpful - it's free on their website and written more clearly than you'd expect from the IRS. Another resource I'd add to the great suggestions already mentioned is the SCORE mentorship program. They offer free workshops specifically on small business taxes, and you can even get paired with a retired accountant or business owner who can explain concepts in plain English. Having someone you can ask follow-up questions to really helped bridge the gap between reading about taxes and actually understanding them. The key is finding resources that encourage questions rather than just throwing information at you. Your accountant will definitely appreciate working with a more informed client!

One thing nobody's mentioned yet - if you give scholarships to individuals you select yourself, even through your own 501(c)(3), you need to be careful about "private benefit" rules with the IRS. You generally need to have an independent selection committee and clear objective criteria for choosing recipients. If you choose recipients who are related to you or who benefit you indirectly, it could disqualify the tax-exempt status. This happened to my cousin who set up a scholarship fund and didn't realize she couldn't award scholarships to her friends' kids. I highly recommend getting specific guidance on the selection process, not just the financial structure. The IRS is particularly picky about this part.

This thread has been incredibly helpful - I'm in a similar situation trying to set up a memorial scholarship for my late father. One additional consideration I haven't seen mentioned is the state tax implications, which can vary significantly from federal rules. In my state (California), I discovered that even if you structure everything properly at the federal level, there may be additional state reporting requirements or different treatment of the funds. Some states have their own gift tax rules or require separate filings for charitable activities. I'd strongly recommend checking with your state's tax agency or a local tax professional who understands your state's specific rules before finalizing your approach. What works perfectly for federal taxes might create unexpected complications at the state level. Also, if you're working with a community foundation or setting up a donor-advised fund, make sure they're familiar with your state's requirements too. I almost got caught off guard by this until my CPA flagged it during our planning session.

Just to add some practical advice - when investment platforms ask if you're a US resident for tax purposes, they're usually trying to determine if they need to collect a W-9 (for US residents) or W-8BEN (for nonresidents). If you're a nonresident alien for tax purposes based on the substantial presence test, you'll generally need to fill out a W-8BEN form for your investment account. This tells the broker to apply the appropriate tax withholding to any investment income.

This is such a common confusion for international students! Based on what you've described, you're likely still considered a nonresident alien for tax purposes. Here's the key thing about F-2 to F-1 transitions: F-2 visa holders are "exempt individuals" for their first 5 calendar years, and F-1 students have their own separate 5-year exemption period. Since you were on F-2 from 2019-2024 (about 5+ years) and just switched to F-1 in May 2024, you're now in your first year of F-1 status. For the substantial presence test, your F-2 days likely don't count because of the exempt individual rules. Your F-1 days starting in May 2024 also don't count since you're in the beginning of that 5-year exempt period. When filling out investment applications, you'll probably need to indicate you're a nonresident for tax purposes and complete a W-8BEN form instead of a W-9. But definitely verify this with a tax professional or the IRS directly since visa timing and transitions can have nuances that affect the calculation. Don't forget you'll also need to file Form 8843 each year to document your exempt status!

dont stress it. happened to me last year and check showed up pretty quick

Been through this exact situation! When TPG can't deposit to a closed account, they'll automatically mail you a paper check to your last known address. Usually takes about 10-14 business days after the failed deposit attempt. Make sure to update your address with both TPG and the IRS if you've moved. You can call TPG customer service to confirm they have your correct mailing address - their number should be on any paperwork you got from your tax preparer. Hang in there, the check will come!

For context, the IRS is currently processing approximately 2.4 million returns per day, with joint returns taking on average 17% longer to process than individual returns. Based on current processing metrics, a transcript showing no return filed for 4 days is well within normal parameters, especially during peak filing season (January 29 to April 15). The system typically updates transcripts in batches, with the highest volume of updates occurring Wednesday through Friday.

I'm going through the exact same thing right now! Filed on March 5th and my transcript has been stuck on "no tax return filed" since then. This is also my first year filing jointly after getting married last fall, so it's reassuring to hear that joint returns can take longer to process. I've been checking obsessively every morning, but based on what everyone's sharing here, it sounds like I just need to be patient and wait for the weekly processing cycles to catch up. Thanks for posting this - it's really helpful to know I'm not the only one experiencing this delay!