Just want to add - the whole system is wildly inconsistent. For tax purposes, your kid ages out of the Child Tax Credit at 17. For FAFSA college financial aid, they're considered your dependent until 24. For health insurance, they can stay on your plan until 26. For court-ordered child support (at least in my state), it's until 18 or high school graduation, whichever comes LATER. No wonder parents are confused! It's like each government department made up their own rules without talking to each other.

This is such a common frustration! I went through the exact same thing when my oldest turned 17 last year. What really helped me was understanding that even though you lose the Child Tax Credit, there are actually several other credits and deductions you might still qualify for that can partially offset the loss. Since your daughter is 17 and in high school, definitely look into the Credit for Other Dependents (up to $500). If she's taking any dual enrollment courses or college prep classes that count for college credit, you might qualify for education credits. Also, if you're paying for SAT/ACT prep courses or college application fees, some of those educational expenses might be deductible. The key is to think beyond just the Child Tax Credit - there's often a patchwork of other benefits available. It's frustrating that the system is so complicated, but don't assume you're getting nothing just because you lost that one big credit. I actually ended up with more total tax benefits than I expected once I found all the alternatives I qualified for.

Hi Jackie! I'm fairly new to this community but wanted to share what happened when I saw "Enclosed" on my transcript earlier this year. Like you, I'm a gig worker (DoorDash and Instacart) and was really stressed when I first saw that notation. It turned out the IRS was sending me a letter asking for verification of some of my vehicle expenses - nothing scary, just routine verification since self-employment income often gets flagged for review. The letter took about 8-10 days to arrive after I first saw "Enclosed" on my transcript. I had to send them copies of my mileage log and some receipts for car maintenance, which I fortunately kept organized after hearing horror stories like your 2021 audit experience. Once I mailed back the requested documents, my refund was processed within 3 weeks. The key is to respond promptly once you get their letter - they usually give you 30 days but the sooner you respond, the faster they can finish processing your return. Definitely keep checking your mailbox daily!

Hey Jackie! I'm relatively new to this community but wanted to chime in since I just went through this exact situation a few months ago. The "Enclosed" notation on your transcript means the IRS is definitely mailing you something - in my case, it was a CP2000 notice questioning some of my 1099 income from my freelance work. I totally get your anxiety about this, especially given your 2021 audit experience! What I learned is that "Enclosed" doesn't automatically mean bad news - it could be anything from a simple math correction to requesting additional documentation for your Uber/delivery expenses. The notice took about 10 business days to arrive after I first saw it on my transcript. Since you mentioned tracking your mileage and expenses carefully, you're probably in good shape if they do ask for verification. My advice: check your mail religiously for the next two weeks, and when the notice arrives, read it thoroughly before panicking. Most of these issues can be resolved pretty quickly if you have your documentation ready. Fingers crossed it's something simple and your refund gets processed soon!

I'm an accountant who works with several medical practices, and I can add some additional context to what others have shared. The W-9 request is indeed standard practice for medical device companies, but there's an important nuance worth mentioning. While everyone is correctly noting that legitimate expense reimbursements shouldn't generate a 1099, the classification can sometimes depend on the broader relationship between your wife and the company. If this is truly a one-time reimbursement for travel to a conference they invited her to attend, it should be straightforward. However, if there's any expectation of her providing feedback, participating in surveys, or any other "services" in exchange for the conference invitation and reimbursement, the company might view this differently. I'd recommend your wife clarify with the company whether they consider this a pure expense reimbursement or if they view the conference attendance as providing some value back to them. Most reputable medical device companies are very clear about this distinction, but getting it in writing protects everyone. The documentation trail others mentioned (invitation, receipts, correspondence) is crucial regardless of how they classify it. The good news is that under $600, even if they did consider it taxable, it wouldn't require a 1099 anyway - but better to get clarity upfront than deal with surprises later.

I'm a CPA who specializes in healthcare professional taxation, and I see this exact scenario frequently. The W-9 request is absolutely standard practice for medical device companies - they're required to collect this information for any payments to healthcare providers due to compliance regulations, regardless of whether it's income or reimbursement. Here's what you need to know: A legitimate expense reimbursement should NOT result in a 1099, even with a W-9 on file. However, I always advise my clients to take two protective steps: 1) Email the company asking for written confirmation that this reimbursement won't generate any tax forms, and 2) Save everything - the conference invitation, flight receipt, their reimbursement request, and all email correspondence. The reason for the extra caution is that some companies have automated systems that flag any payment for potential 1099 issuance. Having that written confirmation and documentation makes it much easier to request corrections if their accounting department makes an error. In 15 years of practice, I've seen maybe a dozen incorrect 1099s for reimbursements, but they're always correctable with proper documentation. Your wife should feel confident filling out the W-9 - it's just administrative paperwork that allows them to process the reimbursement through their vendor system.

I'm currently facing this exact same decision! I've been a CPA for 6 years at a regional firm, and the more I work with complex tax issues, the more I find myself wanting to dive deeper into the legal interpretations and advocacy side. One thing that's been helpful in my research is looking at the different practice areas within tax law. From what I've learned, areas like estate and gift tax planning, international tax compliance, and SALT (state and local tax) seem particularly welcoming to those with accounting backgrounds since the technical knowledge transfers so directly. I've also been wondering about the work-life balance comparison. In accounting, especially during busy season, the hours are brutal but predictable. How does the schedule compare in tax law practice? Is it more consistent year-round, or do you still have those intense periods around filing deadlines? Thanks for starting this discussion - it's incredibly valuable to hear from people who've actually made this transition rather than just reading generic career advice online!

I'm currently a CPA considering this same transition, and this thread has been incredibly enlightening! One aspect I'd love to hear more about is the practical day-to-day differences in client interactions. As an accountant, most of my client conversations are fairly straightforward - reviewing returns, discussing deductions, explaining compliance requirements. But from what I'm gathering, tax attorneys deal with much more complex and often emotionally charged situations. How do you handle clients who are facing significant penalties or audit disputes? Is there specific training in law school that prepares you for these high-stress client management situations? Also, for those who made the transition - did you find that your existing clients followed you, or did you essentially start fresh with a new client base when you moved into legal practice? I'm wondering about the practical aspects of maintaining business relationships during such a significant career pivot. The compensation and intellectual challenge aspects sound appealing, but I want to make sure I fully understand the interpersonal and business development side before making this commitment. Thanks to everyone who's shared their experiences so far!

This is such a timely question! I just went through something similar with some valuable CS2 (formerly CSGO) items I'd been holding. After doing extensive research and consulting with my tax preparer, here's what I learned: Virtual game items like knives are indeed treated as capital assets, not collectibles, so you'll benefit from long-term capital gains rates since you've held yours for 3+ years. The IRS doesn't have specific guidance on gaming items yet, but they fall under the broader digital asset framework. A few practical tips from my experience: - Screenshot your Steam purchase history NOW while you still have access to those old records - If you bought it through the Steam Community Market, Steam wallet transactions should show the original purchase - Keep records of any fees from whatever platform you use to sell (Steam Market, third-party sites, etc.) - Consider the timing of your sale for tax year planning One thing that surprised me was that the actual sale platform matters for documentation. Steam Market keeps better records than some third-party sites, but third-party sites often offer better prices. Just make sure you can document everything properly. The $470+ gain you're looking at definitely makes it worth doing this right. Good luck with the sale!

I've been following this discussion closely since I'm in a similar situation with some valuable CS items. Based on everything shared here, it seems pretty clear that CSGO knives fall under capital assets rather than collectibles, which is great news for the tax treatment. One thing I haven't seen mentioned yet is the potential impact of the recent changes to 1099-K reporting thresholds. Starting in 2023, the threshold dropped from $20,000 to $600 for payment processors, though enforcement has been delayed. This means if you sell through certain third-party platforms that use PayPal, Venmo, or other payment processors, you might receive a 1099-K even for smaller transactions. This doesn't change the tax treatment (still capital gains), but it does mean the IRS will have a record of your transaction, so proper reporting becomes even more important. Make sure whatever selling method you choose, you're prepared to substantiate your cost basis if questioned. Also, given the volatility in the CS skin market, you might want to consider timing your sale strategically. If you think the market might continue climbing, holding longer doesn't change your long-term capital gains status (you're already past the 1-year mark), but if you think prices might drop, selling sooner could maximize your gain.