Thanks for suggesting this. Do VITA volunteers handle complicated situations like missing W-2s and multiple years of unfiled taxes? And do they have any income limits for who they'll help?

VITA generally helps people who make $60,000 or less, so based on what you shared about making under $15,000, you'd definitely qualify. They absolutely can help with multiple years of unfiled taxes - that's a common situation they deal with. As for missing W-2s, the volunteers are trained to help you get replacement documents or transcripts from the IRS. Many VITA sites can even access your wage and income transcripts directly if you give them permission, which makes the process much smoother.

This is so important! When I was applying to schools, I found out that having documented homelessness also qualified me as an "independent student" for FAFSA purposes, which meant they didn't need my parents' financial info at all. Made a huge difference in my aid package.

That's really helpful, I hadn't even thought of that possibility. I'm going to review my paperwork again tonight. Is there a specific term or section I should be looking for in the lease document that would show this?

Look for something called "capitalized cost reduction" or sometimes "lease incentives" in your paperwork. There should be an itemized list of all factors reducing your cap cost, and one of them should specifically mention the federal tax credit or EV incentive. If the amount listed is less than $7,500, they didn't pass on the full credit to you. In my case, they listed it as "EV Tax Credit - $5,000" and when I asked where the other $2,500 went, that's when they admitted they kept it. Some dealers are more transparent than others, but it's always good to check.

This is so true! I leased a Hyundai IONIQ 5 in December thinking I'd get the full credit benefit, but later found out it only qualified for $3,750 because of the battery mineral requirements. The dealer had advertised the full $7,500 in all their materials, which was technically false advertising.

We tried that first but ran into issues with the identity verification. Apparently since he's never filed before, there's not enough tax history for the automated system to verify him. It kept rejecting the account creation. So frustrating!

That's common with the ID verification system if you don't have a filing history. Another option is to have him go to a local IRS Taxpayer Assistance Center in person. They can provide transcripts on the spot, and their identity verification process is different than the online system. He'll need to call 844-545-5640 to make an appointment first. Just make sure he brings two forms of ID. The in-person verification might bypass the issues you're having online.

Totally agree! I used to work at one of those places (won't name names) and we were trained to upsell unnecessary services. For a prior year return, we'd charge double or triple the normal fee even though it's the exact same work. The "professional" preparing your taxes often has minimal training too - like a 2-week course.

Any recommendations on where to get good E&O insurance for tax preparers? I've gotten quotes ranging from $300 to $1200 annually for seemingly similar coverage and I'm not sure how to evaluate the differences.

This is solid advice! I've been doing general tax prep for 5 years and make an OK living, but my colleague who exclusively handles crypto taxation makes literally 3x what I do with fewer clients. Specialization is definitely the way to go, especially when remote.

That's actually really smart advice about finding a niche! Being abroad myself, focusing on expat tax issues makes perfect sense - I already understand some of the challenges firsthand. Do you find most of your clients through referrals or do you use specific marketing channels to reach expats?

Thank you! I didn't even think about tax treaties. Does the Foreign Earned Income Exclusion apply automatically or do I have to explicitly claim it? And does it cover just my salary or also things like investment gains?

You need to explicitly claim the Foreign Earned Income Exclusion by filing Form 2555 with your tax return. It doesn't happen automatically, and many people miss out on it because they don't know to claim it. The exclusion only applies to earned income (like your salary, wages, or self-employment income) - it doesn't cover investment income, capital gains, interest, or dividends. For investment income, you'd want to look at the Foreign Tax Credit on Form 1116, which can give you credit for taxes paid to Singapore on that income. The combination of these two tax benefits often means expats end up owing little or no additional US tax, but you still have to file and report everything.

Currently, the IRS hasn't explicitly stated that crypto on foreign exchanges must be reported on FBARs, though this may change. However, to be safe, many tax professionals recommend including it. You definitely need to report any gains or losses from crypto transactions on your tax return regardless of where the exchange is located.