One thing to know about FreeTaxUSA that nobody mentioned yet - their customer service is WAY better than TurboTax in my experience. Last year I had a weird situation with some crypto reporting and their support team actually gave me personalized answers instead of just linking to generic articles. Also, don't forget to use a promo code when you file! Just google "FreeTaxUSA promo code" and you can usually find a 10-25% off coupon that works. Makes it even cheaper!

Anyone else think its crazy how much we pay for TurboTax when FreeTaxUSA does basically the same thing??? I switched 3 years ago and have saved like $300 total! The only thing I miss is the audit protection but never had an audit anyway lol

Does anyone use a separate account just for tax payments? I've been thinking about setting up a third account (besides business and personal) specifically for transferring tax money to keep everything super clear. Seems like it might be overkill though.

This is such a common struggle for single-member LLC owners! I went through the exact same confusion in my first year. One thing that really helped me understand the separation was thinking of it this way: your LLC earns the money, but YOU (as an individual) owe the taxes on that income. So the flow should be: Business pays all legitimate business expenses → Business makes distributions to you personally → You pay your individual tax obligations (SE tax, income tax, etc.) from your personal funds. For practical implementation, I set up automatic quarterly transfers from my business account to personal, calculated as roughly 25-30% of my net business income. This covers estimated taxes and prevents me from accidentally spending tax money on business expenses. I also keep a simple spreadsheet tracking each distribution with the purpose noted. The health insurance situation you mentioned is totally normal - many providers only accept personal payments. Just do a clean transfer for the exact premium amount and document it as "distribution for health insurance premium." You'll still get the deduction on your personal return.

Anyone else's WMR still saying 'still processing' even after transcript updates?

Those codes are actually a good sign! 571 means they've released any holds on your account, and 290 is typically an adjustment code (often for interest they're adding to your refund). Since your amended return shows "adjusted" status as of Dec 14th, you should see a DDD (846 code) pop up within the next 1-2 transcript update cycles. I had similar codes last year and got my DDD about 10 days later. Keep checking your transcript daily - it usually updates overnight Thursday into Friday, but can happen other days too. You're definitely in the home stretch now!

Great analysis! One additional consideration that might tip the scales further toward W2 - worker classification compliance. The IRS has been increasingly strict about proper classification, and if you're working at a single location, using their equipment, following their schedule, and doing work that's integral to their business, you likely meet the criteria for W2 employee status anyway. If the client company gets audited and the IRS determines you should have been classified as an employee, both you and the company could face penalties and back taxes. The company would owe the employer portion of FICA taxes they should have paid, plus penalties and interest. You'd potentially owe additional taxes if deductions were disallowed. Given that this is a standard office job at one location through a staffing agency, the W2 classification is not only financially better but also legally safer. The agency is likely offering the choice to shift some tax burden to you, but the risk/reward doesn't favor the 1099 option in your situation.

You're absolutely right to lean toward the W2 option! Your calculations look solid, and most folks in similar situations find W2 more beneficial financially. One thing I'd add - if you do end up with any 1099 work in the future, keep detailed records of everything. The IRS loves documentation, especially for home office deductions and business expenses. I learned this the hard way when I couldn't substantiate some deductions during an audit a few years back. For your current situation though, the W2 route gives you that employer FICA contribution (essentially free money), potential access to benefits, and removes the headache of quarterly estimated payments. Plus, if the contract doesn't get renewed, you'd likely be eligible for unemployment benefits as a W2 employee. The peace of mind alone is worth it - no worrying about whether you're setting aside enough for taxes or if your deductions will hold up under scrutiny. Sometimes the simpler path is the better path!

Seems like most people here are suggesting Form 1120-H, but important question: is your condo trust actually set up as a legal trust or as a non-profit corporation? This makes a HUGE difference in which form you should file. Some "condo trusts" are actually incorporated and should absolutely not be filing 1041s.

I've been through this exact situation with our 3-unit condo association! The confusion you're experiencing is totally normal - the IRS forms really weren't designed with small condo associations in mind. Before diving into where the numbers go on Form 1041, I'd strongly recommend checking if you actually need to file that form at all. Based on your description (member contributions for shared expenses), your condo trust likely qualifies for Form 1120-H treatment, which is infinitely simpler. For Form 1120-H, your $9000 in contributions would be "exempt function income" (not taxable), the $8200 in water/sewer expenses would be deductible operating expenses, and you'd only pay tax on any investment income at a flat 30% rate. The bank fees are fully deductible too. The key test is whether 60% or more of your income comes from member dues/assessments (yours is 100%) and whether 90% of expenses are for property maintenance (water/sewer definitely qualifies). I'd suggest pulling your trust documents to confirm the legal structure, but most small condo associations qualify for this election and it saves hours of confusion compared to wrestling with Form 1041.