Another option you might consider is a Transfer on Death deed if your state allows it (about half of states do). This lets you keep sole ownership while you're alive but automatically transfers the property to your wife upon your death, avoiding probate while still getting the full step-up in basis tax advantage. The biggest advantage is flexibility - you retain complete control during your lifetime and can revoke it if circumstances change, unlike adding someone to a regular deed which can be complicated to undo.

This is a great discussion with lots of solid advice! I'm dealing with a similar situation where my property has appreciated significantly since purchase. One thing I'd add is to consider the timing of any changes. If you're relatively young and healthy, keeping the current will structure might make sense to preserve that full step-up in basis benefit. But if there are health concerns or you want to simplify things for your wife, adding her to the deed now might be worth the partial loss of step-up basis for the peace of mind. Also, don't overlook the emotional aspect - some spouses feel more secure being on the deed even if it's not the most tax-optimal choice. Sometimes the psychological benefit outweighs the tax savings, especially if we're not talking about huge amounts. The Transfer on Death deed option mentioned by Hattie sounds really appealing if your state allows it - seems like it gives you the best of both worlds. Definitely worth checking if that's available where you live.

Has anyone used the IRS Tax Withholding Estimator for this kind of situation? I tried using it with multiple income sources but got confused about how to enter the self-employment part.

Ruby, you're in a pretty straightforward situation despite having multiple income streams. Here's the breakdown: Your self-employment income of $1,450 will trigger self-employment tax (about $205 as Micah calculated), but since your total annual tax liability will be well under $1,000, you can skip quarterly payments and just pay when you file. One thing to watch out for - make sure your W-2 job is withholding enough federal tax. With $2,300 from the library job, they should be withholding some federal income tax even though your total income might be below the standard deduction threshold. You want to avoid owing a big chunk at tax time. For Michigan specifically, you'll owe about $62 in state income tax on your self-employment income (4.25% of $1,450), but again, this is small enough that you don't need to make estimated payments. Keep good records of your freelance expenses - business supplies, computer equipment, etc. These can reduce your self-employment income and lower that $205 self-employment tax.

One thing nobody's mentioned: check with a CPA who specializes in audit representation. I did this as a last resort and found out that professional tax preparers often have access to a dedicated IRS practitioner hotline that's WAY less busy than the public numbers. I paid my CPA for 2 hours of time ($350) to handle my audit communication, and she was able to reach my auditor on her first try through the practitioner line. Worth every penny for the stress reduction alone!

I'm dealing with a similar situation with my 2019 audit that's been dragging on for over a year. The phone disconnections are absolutely maddening - I've had it happen 6 times now after waiting 45+ minutes each time. One thing that helped me was finding the "Collections" number (800-829-7650) which sometimes has shorter wait times, and they can often see your audit status even if they can't resolve it directly. When I explained my situation, they were able to confirm that my case was indeed assigned to a specific auditor and gave me some internal reference numbers to use when calling back. Also, I discovered that calling first thing Monday morning (like 7 AM) seems to have better success rates - I think fewer people are calling then. Still took 25 minutes on hold, but at least I didn't get disconnected. Has anyone had success with the "Where's My Amended Return" tool online? I'm wondering if audit status shows up there too, or if it's completely separate from regular return processing. The whole system is so broken - we shouldn't have to use third-party services or wait literal hours just to talk to someone about our own tax situation!

Is anyone else having issues with Keeper this year? My experience has been a nightmare. Not only did it miscalculate my self-employment tax initially, but the customer service has been unresponsive for days.

I had a similar experience with Keeper this year too! The calculation seemed off and when I tried to get help, their chat support kept giving me generic responses that didn't address my specific question. What really frustrated me was that they charged my card for the filing fee before I could even review everything properly. I ended up double-checking all my numbers manually and found a few errors in how they categorized some of my business expenses. Definitely considering other options for next year - this level of service isn't worth the cost.

Does anyone know if filing an amended return for that tax year would reset the CSED clock? I'm in a similar situation with a 2014 debt.

I've been through a similar situation with an old tax debt and want to share what I learned about calculating CSED from transcripts. The key thing to understand is that your transcript will show transaction codes that tell the story of your debt timeline. Look for these specific codes on your transcript: - Code 150: This is your original assessment date - your 10-year clock starts here - Code 520/521: Suspension start/end (as others mentioned) - Code 340: Installment agreement established - Code 341: Installment agreement terminated - Code 420: Examination (audit) started - Code 421: Examination closed Each suspension period gets added to your original 10 years. So if you had a 6-month installment agreement, your CSED becomes 10 years and 6 months from the assessment date. One thing I didn't see mentioned yet - if you moved out of the country for any extended period, that can also suspend the collection statute. The IRS can't effectively collect while you're living abroad, so that time doesn't count toward your 10 years either. Since you mentioned not hearing from the IRS in years, there's a good chance your CSED might actually be approaching or may have already passed. But given how complex these calculations can be with all the potential extensions, I'd definitely recommend getting a definitive answer rather than guessing.