I used almost this exact format and it worked, but I would strongly recommend sending it certified mail with return receipt requested. That way you have proof you requested the extension before the deadline in case they try to say you didn't respond in time.

Absolutely, certified mail with return receipt is essential! I should have mentioned that. The receipt gives you documented proof that you sent your request before the deadline. I'd also add that if there's a fax number on your notice, sending it both ways (mail and fax) can help ensure it gets processed faster. The fax typically gets entered into their system more quickly while the certified mail gives you the legal proof you need if there's ever a dispute about timeliness.

From my experience, they rarely deny reasonable extension requests for CP2000 notices. As long as you're not asking for something excessive like 90+ days, and you provide a legitimate reason (need time for documents, consulting professional, etc.), they're generally accommodating.

Good point! Also worth checking if they're calculating the Net Investment Income Tax (NIIT) differently. That's an additional 3.8% tax on investment income for higher income earners. The threshold starts at $200k for single filers, so based on OP's numbers ($76k + $97.5k = $173.5k) they might be close to that threshold depending on other income.

That's a great point about the NIIT. At $173.5k total, the OP would be under the $200k threshold, but maybe one calculator is factoring in potential additional income? Or perhaps assuming some deductions that would affect the calculation? Capital gains calculations seem simple on the surface but get complicated quickly when you factor in all the variables. This is why I always recommend consulting a tax professional for large transactions rather than relying solely on online calculators.

I've used Vanguard's calculator and it was pretty accurate for my situation. It asked for more detailed information about my other income sources and deductions, which I think helped produce a more realistic estimate. The big advantage was that it clearly showed how much of my gains fell into each tax bracket (0%, 15%, 20%).

I hadn't thought about applying it to next year's taxes. Would that be more advantageous than just taking the refund now? My business cash flow is pretty tight.

If your cash flow is tight, then taking the refund now probably makes more sense for your situation. The advantage of applying it to next year is purely convenience - you won't have to remember to make estimated tax payments (or at least not as many) throughout the coming year. But if you need that money in your business account now, definitely take the refund. There's no financial advantage to letting the IRS hold your money - they don't pay interest on overpayments!

That's good advice. My accountant accidentally put my personal account on my LLC's tax return last year and it created a bookkeeping nightmare. Had to do a formal transfer from personal to business and document everything in case of audit.

I've definitely considered waiting until I turn 24, but that's still about 11 months away. Starting school is pretty time-sensitive for me since there's a specific program I want to get into that only accepts students in the fall semester. If I wait until I'm 24, I'd basically be delaying my education (and future career) by a full year. As for the marriage thing - we were already planning to get married eventually, this would just change the timing. Definitely wouldn't make that decision ONLY for financial reasons, but it seems like it might be beneficial on multiple fronts.

That makes sense if the program only starts once a year. Just wanted to make sure you'd considered that option since so many people don't realize the age 24 cutoff can make such a big difference. If you were already planning to get married anyway, then the timing adjustment might be worthwhile. Just make sure you're both on the same page about doing it sooner than originally planned. Good luck with school and congrats on the home purchase!

Also worth mentioning that if you have unusual circumstances, financial aid offices can sometimes do a "dependency override." It's rare, but if you can document unusual family situations, it's worth asking. Parents refusing to provide info usually doesn't qualify though.

I looked through all those independence qualifiers already and unfortunately don't meet any of them. No kids, not a veteran, wasn't in foster care, not emancipated, and don't have dependent parents I'm supporting. I also asked about the dependency override at the financial aid office, but they said they only do those in extreme circumstances like documented abandonment or abuse. My situation with my parents is fine - we just don't have a financial relationship anymore since I support myself.

That's actually a really smart idea! Do you have any tips for foods that work well for car-based meal prepping? I'd be worried about things getting soggy or spoiling throughout the day, especially in summer.

Definitely go for foods that are stable at various temperatures. I keep a good insulated lunch bag with ice packs. Wraps work better than sandwiches because they don't get soggy as quickly. Pasta salads, grain bowls, and hearty salads (hold the dressing until eating time) all work great. I also keep a bunch of shelf-stable snacks in the car - nuts, granola bars, dried fruit, etc. These are perfect for shorter breaks between clients. If you invest in a good thermos, you can also keep soups or hot meals that stay warm for 4-5 hours.

Would apps like Spotify Premium or Apple Music count as deductible if you use them during lessons to demonstrate songs to students?