Hey Yara! I just went through something similar with my business and wanted to share what I learned. Your Outlander PHEV at 6,063 lbs definitely qualifies for Section 179 - you're safely over that 6,000 lb threshold. One thing that really helped me was understanding that the $28,900 limit for heavy SUVs is just for Section 179, but you can potentially stack other depreciation methods. For example, if your Outlander costs $40,000 and you use it 80% for business, you could take the $28,900 Section 179 deduction and then apply bonus depreciation to part of the remaining balance. Since you mentioned being new to business taxes, I'd strongly recommend setting up your mileage tracking system before you even drive the vehicle off the lot. The IRS pays special attention to luxury SUV deductions, and having solid documentation from day one will save you major headaches if you ever get audited. Also, double-check that your business income will be high enough to absorb the full deduction this year - Section 179 can only offset your actual business profits, so any excess would carry forward to future years. Good luck with your purchase!

Welcome to the community, Yara! Your Mitsubishi Outlander PHEV absolutely qualifies for Section 179 with that 6,063 lb GVWR - you're safely over the threshold. As someone who works with small business tax issues regularly, I'd add a few practical tips to what others have shared: First, consider timing your purchase strategically. If you buy and place the vehicle in service before December 31st, you can claim the deduction for this tax year. But if your business income this year is lower than expected, you might want to wait until January to maximize the benefit when you can fully use it. Second, keep in mind that the Outlander PHEV might qualify for additional state incentives or federal EV tax credits that could stack with your Section 179 deduction, depending on your state and tax situation. These don't reduce your Section 179 benefit. Finally, since you mentioned being new to business taxes, I'd strongly recommend consulting with a tax professional before making the purchase. They can help you model different scenarios and ensure you're structuring everything optimally for your specific situation. The potential tax savings are significant, but getting the documentation and timing right is crucial for avoiding issues down the road. Good luck with your decision!

Been there! Liberty Tax's advance approval usually comes within 24-72 hours, but definitely check your spam folder like others mentioned. Also make sure you have all required docs submitted - missing anything can delay the process. If it's been over 3 business days, definitely give your local office a call to check status.

Just a heads up for anyone still waiting - I work at a tax prep office and we've been seeing some delays with advance approvals this week due to high volume. Liberty Tax's system has been a bit slower than usual. If you applied Monday or Tuesday, you might not hear back until Friday. Don't panic if it's taking longer than the usual 24-48 hours right now!

I'm dealing with the same frustrating situation! Filed in March and still waiting for my identity verification letter. The whole system seems completely broken. What's really bothering me is that they can flag our returns instantly for verification but then take months to send the letter we need to actually verify. Has anyone had luck with the in-person visits to IRS Taxpayer Assistance Centers? I'm wondering if showing up with ID documents might be faster than waiting for this letter that may never come. My local office is about an hour away but at this point I'm desperate enough to make the drive. Also seeing some people mention these third-party services - are they legit or just taking advantage of people's desperation? The IRS process is so opaque that it's hard to know what's actually helpful vs what's just a money grab.

I've been going through this exact nightmare too! Filed in early April and it's now been over 8 weeks with no verification letter. What's really frustrating is that I called the regular IRS line probably 15 times and kept getting the same automated "your return is being processed" message. Finally tried the specific identity verification number (800-830-5084) that someone mentioned earlier and actually got through to a human after about 45 minutes on hold. The agent told me that my letter was "generated" 7 weeks ago but there's no tracking on whether it was actually mailed or delivered. She was able to verify my identity over the phone using questions about my tax history and prior addresses, which saved me from waiting potentially weeks more for a letter that might never arrive. My advice: definitely try that direct ID verification line first thing in the morning (7-8am seems to be the sweet spot), and don't give up if you get disconnected - keep calling back. Also have your last 3 years of tax returns handy because they'll ask specific questions to verify you're really you. Really hoping the IRS gets their act together because this process is absolutely brutal for people waiting on refunds they desperately need!

I just went through this exact situation last year. Here's what I'd recommend: 1. File the 1120-S for your S-Corp (due March 15) 2. Report the expenses as business losses 3. Those losses will flow through to your personal return via K-1 4. For affordable filing, check out TaxHawk - I paid about $45 for my S-Corp return One other thing to consider - since you never actually did business, you might want to formally dissolve the S-Corp to avoid ongoing filing requirements and fees in future years. Otherwise, you'll need to file annual reports with your state and tax returns every year even if the business remains dormant.

I'm dealing with a very similar situation right now! Started an LLC in late 2024 for what I thought would be a lucrative consulting opportunity, spent around $2,800 on setup costs, professional development, and travel to meet potential clients. Then the whole thing fell through when the client's budget got cut. One thing I learned that might help you - make sure you're documenting the business purpose for all those expenses, especially the travel. The IRS wants to see that you had a genuine profit motive, not just wishful thinking. Keep emails from the client, meeting notes, anything that shows you were pursuing legitimate business opportunities. Also, definitely don't skip filing just because you didn't make money. Those losses can actually be really valuable for reducing your overall tax burden. I know the business tax software is expensive, but think of it as an investment that could save you hundreds or even thousands on your tax bill through those loss deductions. Have you considered whether you want to keep the S-Corp active for next year, or would it make more sense to dissolve it if the business opportunities don't materialize?

The IRS Authentication Protocol for in-person verification requires biographic verification (your ID) and residential verification (proof of address). The standard procedure allows for documentation discrepancies if you can provide supplementary evidence. A utility bill, bank statement, or lease agreement with your current address should suffice as secondary verification. The verification threshold is typically met with two concordant documents, even if your primary ID shows a different address.

I went through this exact situation in January 2024! My driver's license showed my old college address but I filed my return with my current work address. The verification agent was completely understanding - they see this all the time, especially with young professionals who move frequently. I brought my lease agreement, two utility bills, and a bank statement all showing my current address. The agent barely blinked at the mismatch and said "happens every day." The whole appointment took maybe 20 minutes. One tip: organize your documents beforehand in a folder - it shows you're prepared and makes the process smoother. Don't stress about this, you'll be fine!