I filed an amendment electronically on March 14, 2024, and it was accepted by the IRS the same day. Just got my additional refund on May 2nd - so about 7 weeks total. Such a relief compared to last year when I filed a paper amendment on February 10th and didn't see my refund until July! Electronic is definitely the way to go.

Just wanted to add that if you're unsure about whether your deduction qualifies or how to properly claim it on the amendment, the IRS has some helpful resources on their website. Publication 17 (Your Federal Income Tax) has a comprehensive section on amendments, and there's also the Interactive Tax Assistant tool that can help you determine if amending is the right choice for your situation. Better to double-check the details before filing than to have to amend the amendment! Also, make sure you have all your supporting documentation ready - the IRS may request it even for electronic filings.

Great question! As someone who's been through this exact confusion, here's what I've learned about per diem for sole proprietors: Your accountant is right - you can use GSA per diem rates for meals and incidentals (M&I) but you'll still need actual receipts for lodging. The GSA website has a per diem lookup tool where you can enter your destination cities and get the exact daily rates. A few key things to remember: - First and last days of travel are prorated at 75% of the full daily rate - You'll only be able to deduct 50% of the meal portion when filing taxes (though the calculation is done after applying per diem) - Keep a simple travel log with business purpose, dates, locations, and who you met with - this is required even when using per diem For your upcoming Atlanta/Denver trip, definitely look up the county-specific rates since metro areas can have different rates by county. The per diem method will save you from keeping track of every meal receipt, but you'll still need documentation showing the business nature of your travel. One last tip: if you do any entertaining of clients during these trips, those meals have different rules and you'll want to track those separately with actual receipts.

One thing I'd add from my experience as a sole proprietor who travels frequently - make sure you understand the difference between "high-cost" and "standard" locations when looking up GSA rates. Cities like Denver and Atlanta might have higher per diem rates than you expect, especially during peak seasons or special events. Also, I learned this the hard way: if you're combining business and personal travel (like extending a business trip for a weekend vacation), you need to be really careful about which days you can claim per diem for. You can only use per diem rates for the days that are primarily business-related. For tracking, I use a simple note-taking app on my phone where I log each day's business activities immediately. Takes 30 seconds but creates a solid paper trail. Then I just export it to a spreadsheet at tax time. Way easier than trying to reconstruct everything months later! One last tip - if you're staying at extended stay hotels or places with kitchenettes, you might want to consider tracking actual meal expenses instead of using per diem, especially if you're cooking some of your own meals. Sometimes the actual expense method works out better financially in those situations.

I totally get needing your refund fast! If you're set on an advance, I'd definitely go with H&R Block or TurboTax like Madison mentioned. But honestly, if you can swing the $5 for that taxr.ai tool Ella recommended, it might save you from needing an advance at all. Sometimes refunds come way faster than we think, especially if you file early and have direct deposit set up. The IRS has been pretty good about getting refunds out within 21 days if there are no issues with your return.

I'm in a similar situation and ended up going with TurboTax for their $4,000 advance option. The application process was pretty straightforward and I got approved within a few hours. Just make sure you have all your documents ready (W-2, bank statements, etc.) because they do verify everything before approving. Also heads up - even though it's "no fee," you do have to pay for their higher tier service to qualify for the advance, so factor that cost in when deciding if it's worth it vs just waiting for your regular refund!

I went through something very similar with a freelance graphic designer last year - paid them $1,800 and then they completely vanished when I needed their W-9 for tax filing. Here's what I learned from the experience: 1. File the 1099-NEC anyway with "UNKNOWN" in the address field and blank TIN/SSN as others mentioned. The IRS prefers incomplete filing over no filing. 2. Document EVERYTHING - save screenshots of any old emails, text messages, or calls you made trying to reach them. This becomes crucial if you need to request penalty abatement later. 3. Check your bank records for any additional contact info. Sometimes contractors include business names or phone numbers in payment descriptions that might help you track them down. 4. The $280 penalty isn't automatic - you can request reasonable cause relief when you receive the notice. I successfully got mine waived by showing I made good faith efforts to obtain the information. 5. For the contractor's side - they're still legally required to report that income even without receiving a 1099. The IRS has ways of matching unreported income, so this will likely catch up with them eventually. Don't panic too much - this happens more often than you'd think with small businesses. Just make sure to implement the W-9 requirement before payment going forward!

I went through this exact scenario two years ago with a handyman who did some repairs for my small business. Paid him $1,200 cash and then he moved out of state with no forwarding address. Here's what worked for me: First, don't panic - this is more common than you think. File the 1099-NEC with "UNKNOWN" in the address field and leave the SSN blank as others mentioned. When I did this, I got the CP2100 notice about 6 months later requesting the missing TIN. The key thing that saved me from the penalty was creating a "good faith effort" file. I documented every attempt to reach the contractor - saved voicemails, screenshots of bounced emails, even tried contacting through mutual connections. When the IRS sent the penalty notice, I submitted all this documentation along with a letter explaining the timeline. Result: penalty completely waived. The IRS agent I spoke with said they see this situation frequently with small businesses and they're reasonable when you can show you tried to comply but the contractor became unreachable through no fault of your own. One lesson learned: now I collect W-9s before any work begins, and I keep copies of IDs for cash contractors. It's saved me headaches with subsequent projects.

This is exactly the kind of question I had when I started my LLC! One thing I learned the hard way is that you absolutely need to establish legitimate job duties and pay rates BEFORE you start paying them. The IRS looks for whether this is a real employment relationship or just a way to shift income to your kids. I recommend creating written job descriptions that match what they're actually doing, setting up regular work schedules (even if it's just a few hours after school), and paying them consistently - not just random amounts when you feel like it. The phone answering and filing work you mentioned is perfect because it's clearly legitimate business tasks. Also, make sure you're familiar with child labor laws in your state. Most states have restrictions on how many hours minors can work during school periods, and you want to stay within those limits even though they're your own kids. The payroll vs. 1099 question is important - definitely go with payroll as others have mentioned. Your children working under your supervision in your business are employees, not independent contractors.

One thing I haven't seen mentioned yet is the importance of opening a separate bank account for your kids' wages. I made this mistake in year one - just transferred money from my business account to their personal accounts, and it created a documentation nightmare when I tried to prepare my taxes. Now I have my payroll service direct deposit their wages into dedicated accounts I opened for each of them (as custodial accounts since they're minors). This creates a clear paper trail that shows legitimate wage payments rather than what could look like gifts or allowances to the IRS. Also, don't forget about income tax withholding. Even though they're exempt from FICA, they may still owe federal and state income taxes depending on how much you pay them. The standard deduction for 2024 is $14,600, so if they earn less than that from all sources, they probably won't owe any income tax. But you should still have them fill out a W-4 to indicate whether they want any federal taxes withheld. My kids actually love getting their "real" paychecks with pay stubs showing their earnings and deductions (even if the deductions are zero). It's been a great way to teach them about how payroll and taxes work!