Do you think TurboTax's premier version would be sufficient for the following year, or would you recommend a different software?

TurboTax Premier would work fine for most people in this situation, but I personally prefer TaxSlayer or FreeTaxUSA. They handle all the same forms as TurboTax but cost significantly less. TurboTax charges premium prices for forms that the others include in their basic packages. The key is understanding which forms and schedules you need to complete. Once your CPA files this year, ask for a copy of your complete return and note which forms were used. Then verify that whatever software you choose next year supports all those forms. Most major tax software can handle multi-state returns, stock sales, and mortgage deductions - you just pay extra with some platforms.

Wow, I had no idea about the potential for double taxation on RSUs. My company did withhold some shares when they vested (about 22% I think), but I never fully understood how that affects my taxes when I sold them. This definitely makes me lean toward getting professional help this year. Do you know if this is something most CPAs understand well, or should I look for someone with specific experience in equity compensation?

Most CPAs should understand RSUs, but I would still specifically ask if they have experience with equity compensation when you're interviewing potential accountants. Some CPAs specialize in working with tech employees or others who receive significant stock compensation. When interviewing potential CPAs, ask them to explain how RSU taxation works. If they can clearly explain that RSUs are taxed as ordinary income when they vest (which should appear on your W-2) and then any additional gain or loss when sold is treated as capital gain/loss, that's a good sign they understand the basics. Make sure they can explain how to properly determine your cost basis, as that's where many people make mistakes. The right CPA can not only prepare this year's taxes correctly but also help you plan for future vesting and sales to minimize your tax burden.

My job location didn't change, and I don't have health issues that required a move. As for "unforeseen circumstances" - is a new relationship considered unforeseen? It wasn't planned when I bought the house, but I doubt the IRS cares about that.

Unfortunately, a new relationship isn't considered an unforeseen circumstance by IRS standards. Their definition typically includes things like death, divorce that occurs DURING ownership, natural disasters, multiple births from the same pregnancy, or becoming eligible for unemployment. Since none of these apply, focusing on properly calculating your cost basis is your best strategy now. Make sure you include all purchasing costs, capital improvements, and selling costs to minimize the taxable gain. Document everything meticulously - the burden of proof is on you if you're audited.

This is good advice. I live in Colorado and discovered our state treatment of capital gains is different than federal. Saved me about $2,400 on my state return even though I still had to pay the federal capital gains.

I use a 60/40 split (60% salary, 40% distribution) for my consulting S-corp based on what my CPA recommended. But I've heard of people going as low as 30% salary in some industries. It really depends on your specific business and what comparable employees make.

Is this really true? I've never heard of S-corp owners being subject to minimum wage laws. Wouldn't that defeat the purpose of being able to set a "reasonable" salary?

You're right that there's some confusion about this. The IRS's "reasonable compensation" standard is separate from minimum wage laws. However, as an employee of your corporation (even as the owner), you're still theoretically subject to FLSA minimum wage requirements. In practice, this rarely becomes an issue unless someone files a complaint. The bigger concern is that a very low salary compared to hours worked could trigger IRS scrutiny about whether your compensation is "reasonable." It's another data point they might use to challenge your salary if it's unusually low for your industry and workload.

Do you have to file special forms for the state disaster loss claim? My state tax form seems way simpler than federal and doesn't mention disaster losses anywhere.

You usually need to file an attachment or schedule with your state return specifically for casualty losses. Many states have their own version of the federal Form 4684. Check your state's department of revenue website - they often have specific instructions for disaster victims in federally declared disaster areas. Some states automatically conform to federal tax treatment, while others have their own rules. The good news is that several states are more generous than the federal government and don't apply the 10% AGI limitation.

You don't have to wait for FEMA to file your taxes, but you'll need to reduce your loss amount by any FEMA payments you expect to receive. If you file before getting FEMA money and then receive it later, you might need to report it as income on next year's return, depending on how much tax benefit you got from the deduction.

Thanks for breaking it down like this! I definitely don't have rental properties or a complex business - just regular W-2 income and some stocks. This makes me feel much better about trying it myself. Do you have a preferred tax software you'd recommend?

I've used both TurboTax and H&R Block over the years. TurboTax has a slightly better interface and is more user-friendly for beginners, but it's also more expensive. H&R Block is cheaper and gets the job done just as well once you get used to it. If your situation is relatively straightforward, I'd also look at FreeTaxUSA - it's much cheaper than the big names and handles all the basics plus investments really well. TaxSlayer is another good budget option. All of these will walk you through everything step-by-step, so you really can't mess it up too badly.

This isn't really accurate advice. Your experience sounds like you might have made mistakes in your self-filing, but that doesn't mean everyone will. I make over $100k and have been self-filing for years with no issues. Tax software is designed to find deductions through its questionnaire process.