Doesn't the IRS get suspicious when they see really young kids getting paid? My accountant warned me that paying anyone under 7 would be a red flag.

The age itself isn't necessarily the red flag - it's whether the arrangement seems legitimate and reasonable. Many child actors and models are extremely young. The key is that you're paying for something with clear business value (the right to use their images in your marketing) and documenting the business purpose. Your accountant is right to be cautious though. The IRS does scrutinize family employment arrangements. That's why documentation is crucial - you need contracts, proof the images are actually used in your business, and evidence that the compensation is reasonable compared to market rates. Start modest with the amounts and keep everything professional and well-documented.

This sounds more legitimate than just "buying image rights." Have you ever been audited on this? I'm worried about getting flagged.

Thanks for the suggestion! I haven't sold any extended warranties that I know of, but I did have a couple customers who got gap insurance. Do you know how long that cancellation window typically is? And would they typically tell me if a customer cancelled, or does it just show up as a deduction?

The cancellation window varies by product and state, but typically ranges from 30-90 days for most F&I products like gap insurance. Some states allow cancellations up to a year in certain circumstances. Unfortunately, most dealerships don't proactively inform salespeople about cancellations. The F&I department processes the cancellation, accounting adjusts the commission structure, and payroll just applies the deduction. It's a terrible system that leaves salespeople confused. This is definitely something to ask your finance manager about - they should be able to link that specific deduction to a customer's canceled product.

I second this! My dealer takes $25 out every time we get a low survey score from a customer. Shows up as "customer satisfaction adjustment" tho. Ask your sales manager for real.

Are these easy to buy? Do you just get them through a regular brokerage account or is there some special process? Always been confused about bonds in general.

You can buy municipal bonds through most regular brokerage accounts like Fidelity, Vanguard, Charles Schwab, etc. No special process needed. Many people find it easier to invest in municipal bond funds rather than individual bonds - they provide diversification and are more liquid. Just be aware that while the interest is tax-exempt, if you sell the bonds before maturity at a profit, you may owe capital gains tax on that profit. Also, some municipal bond interest can trigger the Alternative Minimum Tax (AMT) if you're subject to it, so look for bonds specifically labeled as "AMT-free" if that's a concern for you.

I bought some last year! Really easy through TreasuryDirect.gov though their website looks like it's from 1997 lol. You can put in up to $10k per person per year. The interest rate adjusts with inflation every 6 months. Definitely a good place to park some money that's safe from both market fluctuations AND taxes.

What's Form 8606? My tax software never prompts me for this when I enter my Roth info. Is this something I need to fill out separately?

Form 8606 is used to report nondeductible contributions to traditional IRAs and distributions from Roth IRAs. Most tax software should prompt for it when you enter a 1099-R for a Roth distribution, but sometimes you need to specifically look for it or indicate you want to file it. It's important because it helps track your "basis" (the amount you've contributed) in your IRAs, which determines the taxable portion of future distributions. For Roth withdrawals, it helps document that you're taking out contributions (not taxable) rather than earnings (potentially taxable). If your software doesn't automatically include it, you can usually find it in a forms search and add it manually.

Do you know if there's any way to get this historical info if you haven't been tracking it? I've had my Roth since 2017 but never kept records myself.

This is exactly the kind of feedback I was looking for - thank you! Did they explain why they were reluctant to provide references? And what kind of limitations did you find in their "unlimited" service when you reviewed the contract?

They claimed client confidentiality was the reason for not providing references, which is somewhat understandable in tax matters, but most firms find ways to connect potential clients while respecting privacy. When we pushed, it felt like they just didn't have many satisfied customers they could showcase. As for the "unlimited" service limitations, the base fee only covered routine updates to existing documentation. Any changes to your corporate structure, new intercompany transactions, or expanding to new jurisdictions triggered additional fees. Also, their response time guarantee only applied to "routine" questions - anything complex was subject to their availability and often took weeks to resolve.

We use Deloitte for our transfer pricing work. They're definitely more expensive than boutique firms like CrossBorder, but the peace of mind is worth it for us. Their documentation has helped us successfully navigate audits in multiple countries. The big downside is that unless you're a major client, you're often working with junior staff except for the final review.

We switched from PwC to a smaller specialized firm similar to CrossBorder and honestly haven't noticed a drop in quality. The Big 4 expertise is excellent but you pay a significant premium. The mid-tier firms often have former Big 4 partners/managers but with more reasonable pricing. The key is finding a firm with specific experience in your industry and countries of operation.