Just to add something nobody's mentioned - check with your tax professional about any potential STATE tax benefits for your vehicle purchase. While federal deductions for personal vehicles are limited, some states offer credits or deductions for certain vehicle purchases that are more fuel-efficient than previous models.

Hey Kyle! I went through the same confusion when I bought my car last year. The key thing to remember is that for a regular personal vehicle used mainly for commuting, there aren't any federal tax deductions available. The IRS considers commuting a personal expense, not a business one. However, don't give up hope entirely! Here are a few things to check: 1. **Electric Vehicle Credit**: If your $38,500 car happened to be electric or a qualifying plug-in hybrid, you might be eligible for up to $7,500 in federal tax credits. Check if the manufacturer and model are on the IRS qualified vehicle list. 2. **Business Use**: Even if it's your personal car, if you use it for any work-related travel beyond your normal commute (like driving to different job sites, client meetings, or business errands), you can deduct those miles. You'd need to keep a detailed mileage log though. 3. **State Benefits**: Many states have their own vehicle incentives that are separate from federal rules. Since you're in Pennsylvania, definitely look into any state-specific credits for newer, more efficient vehicles. The documents you'd want to keep are your purchase agreement, financing paperwork, and if you have any business use, start that mileage log now! Even a small percentage of business use can add up over time.

Just wanted to add that you should also consider whether you need to make quarterly estimated tax payments if you do this type of event organizing again. Even though you broke even this time, if you organize another event next year and make a profit, you might owe penalties for not paying estimated taxes throughout the year. Also, make sure to save documentation about the non-profit nature of this event - any communications showing your intent was to support the local music scene rather than make money. This can help if the IRS questions whether this should be treated as a business activity or something else. The fact that you actually lost money out of pocket supports that this wasn't profit-motivated. One more tip: if you do get audited, having photos and promotional materials from the event can really help prove it was a legitimate community event rather than just an attempt to create paper losses.

This is really helpful information everyone! I'm dealing with a similar situation from selling handmade crafts at local markets and got a 1099-K that caught me off guard. The advice about using Schedule C even for one-time activities makes sense, especially since the IRS already has that income reported to them. One thing I'm wondering about - for those who mentioned keeping detailed records, what's the best way to organize everything? I have receipts scattered across email, bank statements, and some physical receipts. Should I create a spreadsheet or is there a better system for tracking all these expenses in case of an audit? Also, does anyone know if there are limits on what types of expenses can be deducted? I had some travel costs to purchase materials from suppliers in other cities - would those count as legitimate business expenses even though this was more of a hobby that happened to generate income?

Just went through this exact situation last month! My company filed for Chapter 11 in October and I was panicking about my W-2 too. Here's what actually worked for me: First, I found the bankruptcy court filing online through PACER (Public Access to Court Electronic Records). The filing listed the bankruptcy trustee's contact information. I called their office and they confirmed they're legally required to issue W-2s - they just needed more time to sort through the company's records. While waiting, I also contacted my state's Department of Labor. Turns out they had quarterly wage reports on file for my employer that showed my earnings by quarter. This gave me a backup way to verify my annual income if the W-2 never came. The trustee ended up sending my W-2 in late February, but having those state records gave me peace of mind that I could file accurately either way. Don't panic - there are definitely ways to handle this even when the company completely disappears! Also, keep detailed records of every attempt you make to get your W-2 (emails, phone calls, etc.). The IRS wants to see you made good faith efforts before using Form 4852.

This thread has been incredibly helpful - I'm bookmarking it for future reference! I wanted to add one more resource that might help people in similar situations. If your former company had any kind of employee benefits portal (like through Workday, ADP Workforce Now, or UltiPro), try logging in to see if your year-end documents are available there. Sometimes these systems maintain access to tax documents even after the company shuts down, at least for a short period. Also, check your email for any automated notifications from payroll systems throughout the year - sometimes these emails contain pay stub attachments or links that might still work. I found three months' worth of pay stubs buried in my spam folder from automated payroll notifications. One last tip: if you had health insurance through your employer, contact the insurance company directly. They often have records of your annual wages since premiums are typically calculated as a percentage of income. My health insurer was able to provide a letter showing my reported annual salary, which helped validate my Form 4852 calculations. Really grateful for everyone sharing their experiences here - it's making a stressful situation feel much more manageable!

This is exactly why I always recommend going directly through the IRS Free File website first before using any tax software's main site. The marketing tactics these companies use are deliberately confusing - they advertise "free" filing everywhere but then hit you with fees once you're invested in the process. For your situation with a $48k AGI and simple W-2, you should definitely qualify for multiple free options through the IRS program. The threshold is much higher than what you're earning. It's frustrating that Tax Slayer's customer service couldn't give you a straight answer about the "service tier" changes. If you want to stick with Tax Slayer, definitely try accessing them through the official IRS Free File portal as others have suggested. Otherwise, there are several other free options available through that same portal that might work better for you going forward.

I went through this exact same situation last year! Tax Slayer changed their criteria and started treating HSA contributions and certain other "standard" items as requiring their paid version, even though they're still covered under the IRS Free File program. The key is definitely accessing Tax Slayer through the official IRS Free File portal at irs.gov/filing/free-file-do-your-federal-taxes-for-free rather than going directly to their website. When you go through the IRS portal, you'll get their actual Free File version which has much more generous limits and fewer restrictions. I had to create a new account through the IRS portal (couldn't use my existing Tax Slayer login), but it was worth it to avoid the $40+ fees they were trying to charge me. The interface looks slightly different but functions the same way. Just make sure you access it through the IRS site and not Tax Slayer's main website - that's the crucial difference!

As a Canadian who went through this exact situation during my PhD, I can confirm that the 14% withholding is standard but you'll likely get a significant portion back when you file. The key is understanding that Canada and the US have different definitions of what constitutes taxable income for students. In my case, I was able to recover about 70% of the withholding because my actual US tax liability was much lower. The US-Canada tax treaty Article XX provides specific exemptions for students, and portions of your stipend may qualify for reduced taxation. Here's my practical advice: 1) Keep detailed records of exactly what your stipend covers (tuition remission vs. living expenses vs. research work) as this affects taxation, 2) File Form 1040NR (not 1040) to maintain non-resident status and access treaty benefits, 3) When filing in Canada, you'll report the US income but can claim foreign tax credits to avoid double taxation. The Canadian tax exemption for PhD stipends typically applies to amounts that would be considered scholarships or fellowships, not compensation for teaching/research services. Make sure you understand how your university classifies your funding as this determines your tax treatment in both countries.

I'm in a very similar situation as a Canadian PhD student who just started my program in the US this fall. The tax withholding has been a real shock to my budget planning! One thing I discovered that might help you is to check if your university has any tax treaty benefit forms you can submit prospectively. My school's international office had me fill out Form 8233 at the beginning of the year, which reduced my withholding from 14% down to about 8% based on the US-Canada tax treaty provisions for students. It's not a complete elimination, but every bit helps when you're living on a stipend. Also, I'd recommend connecting with other Canadian grad students at your university if possible - they often have practical insights about which tax preparation resources work best for your specific school's funding structure. My university's Canadian Student Association actually has a whole guide they've put together based on previous students' experiences with the tax filing process. The treaty benefits are definitely real, but as others have mentioned, the key is understanding exactly how your funding is classified and making sure you file the right forms to claim those benefits!