Thanks for these suggestions! I did make some energy-efficient updates to the house last year (new windows and a more efficient AC system). Do those count for the energy credits? And for the home office, I occasionally work from home but it's not my primary workspace - maybe 1-2 days a week. Would that still qualify?

Energy-efficient windows and a new AC system definitely could qualify for the Residential Clean Energy Credit! Keep all receipts and manufacturer certifications showing they meet energy efficiency standards. The credit is typically 30% of costs up to certain limits. For the home office deduction, it's trickier with part-time use. The space must be used "regularly and exclusively" for business. One or two days a week might qualify as "regular" but the exclusive part is key - the space can't be used for other purposes. If you have a dedicated office room that's only used for work, even part-time, you might qualify. But if it's a multi-purpose space, probably not.

That's not always true though! My wife and I actually paid more after marriage because of the "marriage penalty" - we both made similar high incomes and got pushed into a higher bracket together. Always calculate both ways before assuming marriage helps with taxes.

Good point! I should have mentioned we have pretty different income levels - I make about 3x what my spouse does, so we benefited from the bracket differences. You're totally right that similar high incomes can actually create a penalty. I learned this the hard way with my first marriage where we both made almost identical salaries and ended up paying more. Current marriage is financially better tax-wise but definitely do the math for your specific situation!

This is really good advice. We got audited in our third year and they actually asked for documentation going back to our formation date, including stuff from before we had any financial activity. Do you know if there's a specific format the IRS prefers for board meeting minutes? We've just been doing informal notes.

There's no specific IRS-required format for board meeting minutes, but they should be formal enough to clearly show proper governance. At minimum, include date, time, location, board members present/absent, all motions made and voting results, and any significant discussions about financial matters or organizational policies. Having a consistent format helps tremendously. We created a template that includes approval of previous minutes, financial reports review, and any board actions taken. Date and sign them after approval at the next meeting. Even for those early meetings when you had no financial activity, document discussions about your mission, fundraising plans, and organizational structure. These help establish that you were operating consistently with your exempt purpose from the beginning.

We did that for our first 18 months and it was SO much easier. A local community foundation acted as our fiscal sponsor, handled all the tax filing/reporting, and we just focused on our programs. We paid them 8% of donations, but it was worth it until we were big enough to justify the administrative overhead of independence.

That's a really helpful list of questions, thanks! Did you find your CPA through a referral or some other way? And how often do you actually meet with them throughout the year?

I found my CPA through a referral from another online business owner in a Facebook group for entrepreneurs. Definitely the best way to find someone good is through other business owners in your specific industry. I meet with my CPA quarterly for planning sessions. We look at my income and expenses for the past quarter, make projections for the upcoming quarter, and adjust my estimated tax payments accordingly. We also discuss any major business decisions I'm considering and their tax implications. This regular check-in has been absolutely worth it - she's caught things mid-year that would have cost me thousands if we'd only discovered them at tax time.

This is so true! I found my tax person through my neighborhood WhatsApp group. A lot of really good professionals don't advertise much because they get all their clients through word of mouth. Looking in industry-specific groups is definitely the way to go.

That's really good to know about staying compliant! Do they require anything else besides making sure all future filings and payments are on time? Like are there any special forms I need to submit annually after getting approved?

The main requirement is that you file and pay all required tax returns on time for the next 5 years after your OIC is accepted. That includes making estimated tax payments if needed. No special annual forms are required, but you absolutely must stay current on all tax obligations. They monitor this closely and will terminate your agreement for non-compliance. Also, any refunds you would have received in the year your offer is accepted will be kept by the IRS and applied to your debt (this doesn't extend to future years' refunds). Think of it as being on tax probation for 5 years - just be meticulous about following tax rules during that period.

Can confirm this helps with mortgage applications! Had a tax lien that was killing my chances of buying a home. Got on a direct debit payment plan and requested lien withdrawal through the Fresh Start provisions. My credit score jumped 85 points within two months of the withdrawal, and I was able to qualify for a conventional mortgage about 8 months later.

Thanks for the advice! I do have some small 1099 income from a side gig but otherwise pretty straightforward. How much did your CPA charge if you don't mind me asking? Also, did you find them locally or use an online service?

I paid $350 for my return which included federal, state, and the Schedule C for my side business. That seemed reasonable considering the savings. The previous year I'd paid about $120 for TurboTax with all the add-ons. I found my CPA through a local referral - a colleague at work who had similar tax needs. I'd recommend getting a personal recommendation rather than just picking someone random. The quality and pricing varies dramatically. Also consider asking potential CPAs if they offer a free initial consultation to discuss your situation before committing.

I second FreeTaxUSA! TurboTax kept increasing their prices and I switched last year. Got the exact same refund but paid $30 instead of $120. Their interface isn't as polished but it gets the job done.