That's really helpful context - I like the idea of a focused consultation rather than an ongoing relationship. Did your CPA provide any kind of written plan or checklist to follow throughout the year?

Yes, we received a 3-page tax planning summary with specific action items and deadlines. It included recommendations for retirement contribution amounts, estimated tax payment dates (we have a small side business), and year-end moves to consider in December. The CPA also sent a mid-year reminder email to check if our situation had changed and offered a brief free follow-up call if needed. We didn't need it, but I appreciated having that option without paying for a full additional consultation.

This is spot on. When I finally found a CPA who specialized in planning instead of just filing, she immediately identified that we were phasing out of several credits due to our income level. She helped us increase 401k contributions to drop our AGI just enough to qualify for those credits again. That one change was worth over $3,200!

Thanks, this makes the situation much clearer. I think I've been confusing my personal tax status with my business obligations. The business income seems to be taxable in the US regardless of how long I was physically present. So I guess I'll have to file in both countries and hope the tax treaty helps avoid double taxation?

Yes, you've got it right. You'll need to file tax returns in both countries. The US return will report your US-sourced LLC income, and your home country return will typically include your worldwide income. Most tax treaties have provisions to prevent double taxation through foreign tax credits. This means you can usually claim a credit on your home country tax return for taxes paid to the US on the same income. This doesn't eliminate your need to file and pay in both places, but it should prevent you from being taxed twice on the same money. I'd recommend working with a tax professional who specializes in international taxation to make sure you're applying the treaty provisions correctly.

This is a really good point about the student visa. I had a similar situation and made the mistake of filing jointly which resulted in being taxed on worldwide income. Definitely consider filing separately if you're both non-residents!

This is fascinating - I'm actually looking at purchasing a property next year instead of continuing to lease. Would cost segregation work for a relatively small commercial property (around 5,000 sq ft)? And roughly what percentage of a building's value typically qualifies for accelerated depreciation?

Cost segregation absolutely works for smaller commercial properties, even at 5,000 sq ft. For education-focused buildings, typically 20-40% of the total value can qualify for accelerated depreciation depending on how specialized your setup is. Classrooms with built-in technology, specialized flooring, dedicated HVAC zones, and security systems often qualify. The study itself might cost $5,000-$8,000 for a property your size, but the tax savings usually exceed this cost in the first year alone. Consider working with a firm that guarantees their findings will produce savings exceeding their fee. Also, the study can be done years after purchase - you don't need to do it right when you buy the property.

Family employment is absolutely legitimate if done correctly. The key requirements: they must do real work appropriate for their age, be paid reasonable market wages for that work, have proper employment documentation (W-4, I-9, etc.), and actually receive the money (their own bank account). Keep detailed timesheets and job descriptions. For teenagers working in education, typical roles include administrative support, basic tutoring, materials preparation, social media management, and technology assistance. The tax advantage comes from shifting income to their lower tax bracket, plus the business deduction. They can even contribute to Roth IRAs with these earnings, creating incredible long-term tax advantages.

Thanks for clarifying! I'll definitely set up proper documentation systems including timesheets and job descriptions. They already have their own bank accounts, so that part's easy. Would it make sense to pay them as W-2 employees or as 1099 contractors? And I love the Roth IRA idea - never even thought about that benefit.

What accounting software would you recommend for someone just starting out? I'm in a similar situation with a small side business and terrible bookkeeping habits.

For someone just starting out, I'd recommend something simple like Wave (which is free) or QuickBooks Self-Employed. Both let you connect your personal accounts but categorize transactions as business or personal. Wave is completely free for invoicing and accounting (they make money on payment processing), while QuickBooks Self-Employed costs a bit but has more features for tracking mileage and estimating quarterly taxes. The key is just to pick something and start using it consistently. Even a well-maintained spreadsheet is better than nothing. If your business grows, you can always upgrade to more comprehensive software later. The important thing is separating business from personal transactions so you can easily report your income and deductions at tax time.

Nope! You only pay taxes on your profits. If you bought something for $100 and sold it for $75, that's actually a $25 loss that would reduce your overall taxable business income. This is why keeping good records is so important - you want to track both the winners and losers in your inventory to accurately calculate your true profit.

Thank you! That's a huge relief. I was worried I'd have to pay taxes on every sale regardless of whether I made money. Good to know the losses can offset the gains. I'll definitely be keeping better records of my purchase prices from now on.

That's actually a really good idea. I didn't consider Costco might take it back since I installed it. I'll give them a call tomorrow and see what they say. Did you return yours to the store or did you have to call their customer service line first?

I just took it back to the store with my receipt. The person at the return counter didn't even ask any questions, just processed the return right away. Costco's return policy is pretty great for most things. Just make sure you bring the original packaging with everything that came in the box, even if it's been opened.

Does FreeTaxUSA handle K-1 forms and rental properties well? I've been using TurboTax Home & Business for years but the price keeps going up every year. Worried about switching and missing deductions though.