Thanks for the tip about the TurboTax tracker! Just checked and it does show a more specific estimate than the IRS site - says my refund should arrive by this Friday. That's a good point about withholding too. I've actually been thinking about adjusting mine. Do you just fill out a new W-4 with your employer to change it? Was it complicated to figure out the right amount?

Yes, you just need to submit a new W-4 to your employer. It's not too complicated - the form has a worksheet that helps you calculate the right amount. You can also use the IRS's Tax Withholding Estimator online which is pretty user-friendly. The key is to think about your tax situation for the whole year - any major life changes, additional income sources, etc. I found that even with my adjustments, I still got a small refund this year (about $500) which I prefer to potentially owing money. It's kind of a balancing act.

This is so true. I claimed EITC and my return was "accepted" on Jan 31 but my refund didn't come until March 12. The Where's My Refund tool just showed "processing" for over a month with no explanation. Super frustrating.

15 I've been wondering about this too. We didn't get a formal appraisal when my mom died, just used the county tax assessment value. Will the IRS accept that or do we need something more official?

2 County tax assessments can sometimes work, but they're often lower than actual market value and might not give you the full stepped-up basis you're entitled to. The IRS prefers more direct evidence of fair market value. If you didn't get a formal appraisal at the time, you might consider getting a "retroactive appraisal" where a professional estimates what the property was worth at the date of death. Other acceptable evidence might include comparable sales in the neighborhood around that time, or listings of similar properties. Remember that a higher established value at the date of death means a higher basis, which typically means less taxable gain (or more loss) when you sell. So it's usually worth the effort to properly document the highest reasonable value.

9 Yes, timing can matter! If you sell soon after inheriting, your basis is the stepped-up value at death and there's usually little to no gain. But if you wait years, any appreciation since death could be taxable. For example, if the property was worth $300K when your mom died (your basis), but is now worth $350K and your brother buys your half for $175K, you'd have a $25K gain ($175K minus $150K basis) that would be taxable. Keep in mind this would be a capital gain, and if you owned it over a year, it would be long-term with better tax rates.

Would a cashless exercise eliminate the possibility of qualifying for long-term capital gains treatment? I'm trying to understand if there's any way to both solve the cash flow problem AND get the better tax treatment.

A standard cashless exercise would indeed eliminate the possibility of getting long-term capital gains treatment because you're selling the shares immediately upon exercise. The entire spread between your strike price and the selling price would be taxed as ordinary income. If you're looking to both solve cash flow issues and potentially get better tax treatment, some companies offer what's called a "partial cashless exercise" where you sell just enough shares to cover your costs and taxes, then hold the rest. Those remaining shares could potentially qualify for long-term capital gains treatment if you hold them long enough.

In my experience working at 3 different startups, the type of option is rarely negotiable. Companies typically have a standard equity plan that applies to everyone at similar levels. NSOs are often used for consultants or non-employees, while employees get ISOs. The tax advantages of ISOs are specifically designed for employees.

Do you need to keep actual logs? I thought the apps tracked your miles automatically?

You definitely need your own logs or a dedicated mileage tracking app. While Uber and Lyft do track some miles, they only count miles when you have a passenger in the car, not all your business miles. The IRS allows you to deduct ALL business miles, including miles driven while waiting for a ride request and miles driving to pick up passengers. Those additional miles can easily double your deduction, but the rideshare apps won't track them for tax purposes.

Legally, you're required to report ALL income regardless of amount or whether there's a 1099. While it's true the IRS might not immediately know about that specific $400, tax evasion is never worth the risk. The rideshare companies keep records of all payments, and the IRS can request those during an audit even without a 1099. Plus, if you're audited for any reason and they discover unreported income, you'll face penalties and interest that will cost far more than any tax you might save by not reporting it. Always better to stay on the right side of tax law!

Thanks for the insight! I did keep copies of everything and took photos of the completed forms before mailing them. About the address - that's actually a concern. I might be moving to a different apartment in August. Should I submit a change of address form with the IRS now, or wait until closer to my move date?

I recommend waiting until about 2-3 weeks before your move to submit Form 8822 (Change of Address) to the IRS. If you do it too early, they might start sending mail to your new address before you're there. Make sure you also submit a change of address with USPS, as they can forward your mail for up to 12 months. This gives you double protection against missing important IRS notices. And don't forget to update your address with your school's international student office as well, since they handle your tax documentation for visa purposes.

Not all states have income tax though. And for nonresident aliens, state tax filing requirements vary widely depending on which state they live in. Some states don't require nonresidents on F-1 visas to file at all if their only income is from a qualified scholarship.