Has anyone here actually tried to file an Offer in Compromise themselves? I'm hearing mixed things about how hard it is to get accepted. I've got about $25k in tax debt and a resolution company wants $4k to handle it.

Ruby, please don't pay that tax resolution company $16k! You can absolutely handle this yourself and save thousands. Here's what I'd recommend based on your situation: First, pay your 2023 taxes directly to the IRS with that $10k you have saved. This keeps you current and eligible for relief programs. Never fall behind on current year taxes while trying to resolve old debt. For the remaining $30k, you have several options you can pursue yourself: 1. Request Currently Not Collectible status if paying would create hardship - this pauses collections for free 2. Set up an installment agreement directly with the IRS 3. File an Offer in Compromise yourself using Form 656 The IRS actually has great resources and payment calculators on their website. You can also call them directly (or use a callback service like Claimyr if you can't get through) to discuss your options with an actual IRS representative who can explain what you qualify for. I've seen too many people get scammed by these resolution companies promising miracles. Save your money and handle this directly with the IRS - they're usually much more reasonable to work with than these companies make them out to be.

Just wanted to add something important - make sure you track your business expenses! That $2600 isn't all taxable if you spent money to earn it. Did you buy any equipment? Software subscriptions? These can be deducted from your income before calculating taxes. I made about $3000 last year from my Etsy shop, but after deducting all my supplies and shipping costs, my taxable income was only about $1800. That saved me a decent amount on self-employment taxes.

I'm in a similar boat - made around $1,800 from tutoring other kids in my neighborhood and now I'm panicking about taxes. Reading through all these responses has been super helpful though! One thing I want to add is that you should definitely keep good records going forward. I wish I had tracked my expenses better from the start. Things like if you had to buy any coding books, pay for software licenses, or even gas money driving to meet clients - these could all potentially be business deductions. Also, don't beat yourself up about not knowing this stuff. Most adults don't understand taxes either! The important thing is you're asking the right questions now and taking care of it properly. Better to file late than never file at all, but you still have plenty of time before the April deadline. Good luck with everything - sounds like you've got some solid options with the tax software people have recommended here.

I switched from a national chain ($800) to a local CPA ($500) for my S-Corp and got much better service. The national chains use a business model based on volume and standardized processes, while local CPAs can be more flexible with pricing for simple returns. Look for a small local firm that specializes in small businesses. Be upfront about your situation - tell them you have everything organized and just need the final tax prep. Many will offer tiered pricing based on complexity.

As a small business owner who's been through this exact situation, I can relate to your frustration with the pricing. What really opened my eyes was when I asked my tax preparer for a detailed breakdown of their process. Turns out they spend about 20 minutes on data entry but another 90 minutes on review, verification, and compliance checks I never considered. The real value isn't just in the data entry - it's in catching potential issues before they become IRS problems. Last year my preparer caught that I was misclassifying some expenses that could have triggered an audit. They also identified a depreciation error from two years back that saved me from having to amend multiple returns. That said, $750-$1200 does seem steep for a straightforward S-Corp. I'd recommend getting quotes from 2-3 local CPAs who specialize in small businesses. Many will give you a phone consultation to understand your situation and provide a more accurate quote. You might find someone who charges $400-600 for the same quality of work, especially if you emphasize how organized your records are. The key is finding someone who values efficiency and is willing to price accordingly when a client makes their job easier.

Has anyone filed taxes as a QJV using TurboTax or other DIY software? Is it easy to set up or should I use a CPA the first year?

Great question! I've been following this discussion closely since my wife and I are considering a similar transition. One thing I'd add is to make sure you understand the liability implications of switching to a QJV. Unlike a sole proprietorship where only one spouse is typically liable for business debts, with a QJV both spouses become jointly and severally liable for all business obligations. This means creditors can go after either spouse's personal assets for business debts. Also, regarding your sons as employees - definitely keep them as W-2 employees rather than trying to bring them into the QJV structure. The IRS is very strict that QJVs can only include the married couple as owners. Having your kids as regular employees actually provides better liability protection and clearer tax treatment. One more tip: consider getting an EIN for the QJV even though it's not strictly required. It can make banking and business transactions cleaner, especially when dealing with vendors who expect a business tax ID.

Has anyone used H&R Block instead of TurboTax for rental property home offices? I've had similar problems and wondering if switching software would help.

I had this exact same issue with TurboTax last year! The key thing to understand is that rental property management expenses go on Schedule E as "other expenses," not through the traditional home office deduction process. Here's what worked for me: Calculate the percentage of your home used exclusively for rental management (office square footage ÷ total home square footage). Then take that percentage and apply it to eligible home expenses like utilities, insurance, mortgage interest, property taxes, repairs, and depreciation. In TurboTax, go to your rental property section, scroll down to "Other Expenses" and manually enter each allocated expense with clear descriptions like "Home office utilities - 15% of total" or "Home office insurance - 15% of total." Don't use the regular home office deduction wizard at all - it's designed for Schedule C self-employment income, not rental properties. This approach keeps everything properly allocated on Schedule E without double-reporting income. Make sure to keep detailed records showing the space is used exclusively for rental management activities, including photos and a log of business activities conducted there.