This is really helpful information everyone! I'm in a similar boat - been paying a TPA for years for my Solo 401k when my balance has been under $200k the whole time. Based on what I'm reading here, it sounds like I have a few options: 1. File one final 5500-SF marking it as terminated/final to avoid any IRS questions later 2. Just stop filing and deal with any potential inquiry letter (which sounds pretty manageable based on Cameron's example) 3. Keep filing even though I'm not required to, just for peace of mind I'm leaning toward option 1 - filing a final form and then stopping. Has anyone actually done this termination approach? What exactly do you check on the form to indicate it's your final filing? Also, for those who've used the EFAST2 system - do you need any special software or can you do everything through their web portal?

I went through this exact situation two years ago! I had been paying my TPA about $800/year for my Solo 401k when my balance was only around $180k. Like you, I felt like I was throwing money away. I ended up doing exactly what Sophia mentioned - filed one final 5500-SF with the "Final Return/Report" box checked. It was actually pretty straightforward once I got into the EFAST2 system. The hardest part was just getting over my initial nervousness about doing it myself. One thing I wish I had known earlier: you can actually request copies of your previous filings from the DOL to use as a reference. This helped me understand what my TPA had been submitting and made me more confident about filling out my final form correctly. Since then, I've had zero issues with the IRS. No letters, no questions, nothing. I've saved over $1,600 in TPA fees so far and honestly wish I had made the switch sooner. The peace of mind from properly closing out the filing history was definitely worth the small effort of doing that final form myself.

Protip: check your tax transcript instead of WMR. WMR is useless af these days

Same situation here! Filed both state and federal on Feb 3rd, got my state refund last week but federal is still showing "processing" on WMR. From what I've read, they really are completely separate systems so timing can vary wildly. Some people get federal first, others get state first. I'm trying not to stress about it but the waiting is killing me! 😅

Have you checked to see if your provider is actually licensed? In my state, licensed providers have to give you their tax info. If they're unlicensed, you might want to report them to your state childcare licensing agency too, not just the IRS. Unlicensed providers can be a serious safety concern.

This is such a frustrating situation, but you absolutely have legal options here. The fact that your provider is refusing to provide their SSN and misrepresenting the amount you paid them is a huge red flag. First, document EVERYTHING - save all your Venmo receipts, bank statements, and any text/email conversations you've had with the provider. Take screenshots of your payment history before anything gets deleted. You can definitely still claim the Child and Dependent Care Credit. File Form 2441 and write "REFUSED" where the provider's SSN should go. Include their name, address, and the actual amount you paid ($19,500). The IRS has procedures for exactly this situation. Also consider filing Form 3949-A to report suspected tax fraud. If your provider is lying about how much they received from you, they're likely doing it with other families too. This is tax evasion, plain and simple. One more thing - check if your state requires daycare providers to be licensed. If they are supposed to be licensed and aren't, you should report that to your state's childcare licensing agency as well. Licensed providers are typically required to provide tax information to parents. Don't let this provider cheat you out of your legitimate tax credit. You paid that money and you deserve the deduction!

I've been banking with Go 2 Bank for about 18 months now, and from what I've experienced, they're pretty reliable with the early deposits on tax refunds. Mine came 2 days early last year - WMR showed March 15th but it hit my account on March 13th around 2am. The thing that surprised me was how it just appeared overnight without any pending notification first. I'd definitely recommend setting up push notifications on your Go 2 Bank app if you haven't already, because you might wake up to a pleasant surprise! Given that your home repairs are urgent, I'd say there's a solid chance you'll see it by the 27th or 28th. Fingers crossed for you!

I've been with Go 2 Bank for about 2 years now and can share my experience with tax refund timing. Last year my WMR showed April 12th as the DDD, but the refund actually hit my Go 2 Bank account on April 10th around 11:30pm. The year before it was also 2 days early. From what I understand, Go 2 Bank processes these as soon as they receive the ACH notification from the IRS, which typically happens 1-2 business days before the official release date. Since your DDD is the 29th (assuming that's a weekday), I'd expect to see it sometime between the 27th-28th. The early morning hours (between midnight and 6am) seem to be when most of these deposits post. Hope this helps with your home repair timeline - I know how stressful it is waiting on money you need for urgent expenses!

This is exactly the kind of question I love seeing here! As someone who's helped several small business owners navigate vehicle deductions, I want to add a few practical considerations to the excellent advice already given. First, @Kingston Bellamy nailed the technical aspects, but let me add this: with only $3,500-4,500 in expected revenue, you might want to seriously consider the standard mileage rate that @Raul Neal mentioned. Here's why - even if you qualify for the full Section 179 deduction, you're limited by your business income. So you'd only be able to deduct $4,500 maximum in year one, with the rest carried forward. However, if you're confident your woodworking business will grow significantly in years 2-3, then taking the Section 179 approach makes sense because you can use those carryforwards. One thing I always tell clients: make sure you have a separate business bank account and keep immaculate records from day one. The IRS scrutinizes vehicle deductions heavily, especially for newer businesses. Document every business trip with date, destination, business purpose, and odometer readings. Also, since you mentioned this is currently a hobby, make sure you're operating with profit motive and treating it as a real business. The IRS has specific rules about hobby vs. business classification that could affect all your deductions. The F-150 Lightning is an awesome choice - just make sure the business case supports the tax strategy!

As someone who just went through a similar vehicle purchase decision for my contracting business, I wanted to share a few additional considerations that might help with your F-150 Lightning decision. One thing that caught my attention is your revenue projection of $3,500-4,500 for the first year. While everyone's covered the tax implications well, I'd also suggest thinking about the cash flow impact of a new truck payment versus your expected income. Even with great tax deductions, you still need to service the debt. Have you considered looking at used EVs or even a certified pre-owned Lightning? You'd still get many of the same tax benefits (Section 179 still applies to used vehicles), but with a lower purchase price and potentially no waiting list. The used EV market has some great deals right now as lease returns hit the market. Also, since you're hauling materials and making deliveries, make sure to factor in the Lightning's range when loaded. I learned the hard way that EPA range estimates drop significantly when you're carrying a full load, especially in cold weather. Might be worth test driving one with a simulated load if possible. That said, if the numbers work for your situation and you've planned for the payment, the Lightning is an incredible truck. The instant torque is amazing for work applications, and clients love seeing businesses investing in clean technology. Just make sure the business case supports the enthusiasm!