dont even bother calling tbh. system automatically converts failed direct deposits to paper checks. just gotta wait it out

Same thing happened to me with Cash App last year! The rejected deposit bounced back to IRS within about 5 business days, then got my paper check exactly 3 weeks later. Make sure your mailing address is current on file with them - you can check/update it on the IRS website. The waiting sucks but at least you'll definitely get your money 💸

Has anyone successfully negotiated with their employer to reduce the Annual Lease Value used in these calculations? My company is using the maximum value in the IRS range for our vehicle class, and I think they could justifiably use a lower value.

This is exactly the kind of situation where having proper documentation becomes crucial. I went through something similar when I first got a company car and the deductions seemed way off. A few things to double-check beyond what others have mentioned: 1. Make sure your employer is using the correct "first made available" date for determining the fair market value. If you got the car 6 months ago, they should be using the FMV from when you first received it, not when the company originally purchased/leased it. 2. Verify that they're calculating your personal use percentage correctly. Some companies incorrectly include weekends and holidays when the car just sits in your driveway as "personal use days" rather than basing it purely on actual mileage. 3. Ask for a detailed breakdown of how they calculated both the ALV and your personal use percentage. You're entitled to understand exactly how they arrived at these numbers. The $10,250 ALV does seem high for a basic mid-size sedan unless it's a newer model with higher-end features. I'd definitely recommend looking up your specific vehicle on KBB or Edmunds to get the fair market value, then cross-reference that with the IRS ALV tables to see if they're in the right ballpark. Don't be afraid to push back if the numbers don't add up - most payroll departments will work with you if you can show them specific documentation that their calculations might be off.

Has anyone else noticed that the HSA contribution limits for 2020 are way lower than 2023? I just saw that for 2023 they're $3,850 individual and $7,750 family. Wish they'd bump these up more aggressively with inflation - healthcare costs are insane these days!

This is a really helpful thread! I'm in a similar situation but with a twist - I'm 24 and on my dad's HDHP, but I also have a part-time job that offers an HSA. My employer keeps telling me I can contribute the family amount since I'm "on a family plan," but based on what everyone's saying here, that sounds wrong. It seems like the consensus is that since I'm only covering myself (even though I'm on someone else's family plan), I should only be able to contribute the individual limit of $3,550 for 2020. Is that right? I'm worried my employer's HR department is giving me bad advice and I'll end up with penalties. Also, does it matter that my dad probably isn't contributing to an HSA at all? He's not really into that stuff and just uses the insurance for basic coverage. Would that change anything about my contribution limits?

OP I've been a full-time youtuber for 3 years now and the biggest mistake I made was trying to DIY my taxes the first year. Even with all the online advice, I missed so many legit deductions and probably overpaid by thousands $$$. My advice: find a CPA who works with content creators specifically. Regular tax preparers often don't understand our weird mix of expenses and income streams. Might cost $300-500 for tax prep but you'll likely save way more than that in deductions they'll find that you'd miss.

Just my two cents - be careful with deducting things you haven't used yet. My brother got audited last year for his small business and the IRS was particularly interested in equipment he'd purchased but hadn't deployed in his business yet. He ended up having to prove he had a legitimate business need for the items at the time of purchase. He had emails and business plans showing his intent, so he was fine, but it was definitely a stressful experience.

One thing I haven't seen mentioned yet is keeping detailed records of your cleanup and restoration costs too. After Hurricane Michael, I learned that reasonable costs for cleaning, repairs, and even temporary storage while dealing with the damage can sometimes be included in your casualty loss calculation. Also, if you're dealing with contaminated floodwater like you mentioned (sewage backup), make sure to document any health-related expenses from exposure. While medical costs aren't part of the casualty loss itself, they might be deductible as medical expenses if they exceed the threshold. For your antique valuation issue, consider reaching out to local auction houses or estate sale companies. Many of them can provide informal estimates based on photos, and having that professional opinion documented in writing adds credibility to your claim. Even if it's not a formal appraisal, it shows you made a reasonable effort to establish fair market value. The key is showing the IRS that you acted in good faith and used reasonable methods to determine values. Your photos of the damage are actually really valuable evidence that many people forget to take, so you're ahead of the game there.

I want to add something important about the sewage contamination aspect that hasn't been fully addressed. When floodwater contains sewage (which you mentioned), the IRS actually allows you to claim the full replacement cost for certain contaminated items rather than just fair market value, since they're considered a health hazard that can't be properly cleaned. This is particularly relevant for your clothing, mattresses, and upholstered furniture that were soaked in contaminated water. For these items, you can often claim what it would cost to replace them with similar items today, not just their depreciated value before the hurricane. This can significantly increase your deductible loss. You'll want to clearly document which items were exposed to sewage contamination versus clean floodwater. Take photos that show the water line and any visible contamination, and keep records of any professional recommendations you received about disposal of contaminated items. Also, regarding your FEMA payment - make sure you understand exactly what it covered. If FEMA designated some of that $1,350 for specific items (like temporary housing assistance), those amounts might not reduce your casualty loss for different categories of property. You should have received documentation from FEMA breaking down what the payment was intended to cover. Have you considered consulting with a tax professional who specializes in disaster losses? Given the complexity with the sewage contamination and the mix of antiques and regular household items, it might be worth the cost to ensure you're maximizing your legitimate deductions while staying compliant.