This whole thread made me realize I've probably been way too conservative with my deductions for my small YouTube channel. I have a dedicated corner of my apartment for filming, a camera I only use for videos, and editing software. Never deducted ANY of it because I was scared of the IRS!

As someone who's been doing freelance work for years, I can tell you the key is documentation and intent. The IRS doesn't care if you're a millionaire streamer or just starting out - the same rules apply to everyone. What matters is whether you can prove the expense has a genuine business purpose and you're operating with profit intent. For that streamer's horses, if she can show they're regularly featured in content, drive engagement/revenue, and she keeps detailed records of business vs personal use, then partial deductions could be legitimate. The biggest red flag I see with content creators is treating everything as 100% deductible just because it appears in content once. That's not how it works. If you use your gaming setup 70% for streaming and 30% for personal gaming, you can only deduct 70%. My advice: Keep meticulous records, be conservative with percentages, and don't get greedy. The IRS has gotten much better at auditing online creators in recent years.

I just went through this process with my company six months ago, and I learned some hard lessons that might save you time and headaches! **Timeline management is crucial**: Start the process at least 60 days before any major payroll tax deadlines. We cut it close and had to scramble when our Q3 filings were due right in the middle of our transition. Some states took longer than expected to process the name change. **Double-check your EFTPS access**: Even though your FEIN stays the same, the IRS may temporarily lock your EFTPS account when they process your name change. We couldn't make electronic payments for about a week until they sorted it out. Having backup payment methods ready saved us from late payment penalties. **State-specific quirks**: Illinois required us to file a separate form with their Department of Employment Security even though we updated with their Department of Revenue. Wisconsin wanted proof that our workers' comp policy reflected the new name. Each state really does have its own requirements. **Communication with employees**: Don't forget to update your employees about the name change timeline, especially if you're in states where they receive tax documents directly from state agencies. We had confused employees calling about notices that still showed the old company name. The whole process took about 8 weeks for us across 18 jurisdictions, but it was totally worth getting organized upfront. Good luck with your transition!

I went through this exact process when our consulting firm changed names last year, and I wish I'd had all this great advice from everyone here! A few additional tips that saved me time: **Start with your state of incorporation first**: This creates a domino effect because many other agencies will ask if you've updated with your home state. Having that confirmation ready speeds up everything else. **Get multiple certified copies of your name change documents**: I initially got just 2 copies and ended up having to order more when several agencies wanted to keep the originals. Get at least 10-12 certified copies upfront - it's cheaper than ordering them piecemeal. **Track confirmation numbers religiously**: Create a simple spreadsheet with columns for Agency Name, Date Submitted, Confirmation Number, and Status. Some agencies took 6+ weeks to process, and having those confirmation numbers was crucial when following up. **Consider the calendar**: We started our process in November thinking it would be quick, but many agencies slow down significantly during year-end. If possible, avoid starting this process between November-January when tax agencies are swamped with year-end filings. The whole thing took about 10 weeks for us across 14 jurisdictions, but having everything documented and organized made it much more manageable. The peace of mind knowing everything was properly updated was definitely worth the effort!

Just wondering if anyone here uses TurboSelf-Employed or other tax software to track these kinds of expenses throughout the year? I'm terrible at keeping records and always scrambling at tax time.

As someone who's been through several IRS audits for my music business, I can confirm that Spotify Premium is absolutely deductible - but documentation is everything. The IRS will want to see that you're using it legitimately for business purposes, not just claiming it to reduce your tax bill. Here's what worked for me: I keep a simple monthly log showing specific business uses - "Created practice playlist for Smith student - jazz standards," "Researched setlist music for wedding gig," etc. Takes maybe 5 minutes a month but gives you solid backup if questioned. One tip nobody mentioned - if you teach online lessons, the streaming quality and lack of ads from Premium can actually be considered essential for maintaining professional service standards. That's a stronger business justification than just "I listen to music for work." Your 90% business use estimate sounds reasonable for a active teacher/performer. Just make sure you can back it up with actual examples of how you use the service throughout a typical week.

I'm dealing with a very similar situation as the executor of my aunt's estate, and this thread has been incredibly helpful! One thing I wanted to add from my recent experience - when you contact the brokerage about the step-up basis, ask them to provide a detailed breakdown of how they calculated the fair market value on the date of death. In my case, the brokerage used the closing price on the date of death, but I later learned that for estate tax purposes, you can sometimes use the average of the high and low prices for that day, which could result in a slightly different (and potentially more favorable) basis. It's a small detail, but with $570K in assets, even small differences can add up. Also, regarding your concern about the $160K appreciation - I had a similar situation where the gains seemed unusually high. It turned out that my aunt had some individual stocks that performed exceptionally well during that period, not just broad market funds. You might want to look at the specific holdings to see if there are any individual positions that drove the outsized returns. The consensus here about transferring shares directly seems right given your parents' situation. Just make sure to coordinate the timing with your Form 1041 filing - you'll want to report the distribution properly on the estate return even though it won't generate immediate capital gains if you transfer shares rather than cash.

I'm new to dealing with estate matters, but this discussion has been incredibly educational! I'm currently helping my elderly neighbor navigate some inheritance issues, and the level of detail everyone has shared here is amazing. One question that came up while reading through all these responses - for those who've successfully gotten step-up basis corrections from their brokerages, did you encounter any situations where the brokerage initially pushed back or claimed they couldn't make the adjustment? My neighbor's situation involves a smaller regional brokerage firm, and I'm worried they might not be as familiar with these requirements as the larger national firms that others have mentioned. Should we be prepared with specific IRS regulations or forms to reference if they give us resistance? Also, the point about documenting everything thoroughly really resonates. It sounds like creating that comprehensive paper trail isn't just helpful for taxes - it's essential for avoiding problems down the road. Thank you all for sharing such detailed experiences!

Hey Noah! I totally get your confusion - I was in the exact same boat when I first started investing as a dependent student. The W-9 requirement definitely sounds scarier than it actually is! You absolutely do NOT need to create any IRS accounts or claim independence. The W-9 is just Robinhood's way of collecting your taxpayer identification number (your SSN) for their reporting requirements. Every brokerage is legally required to do this - it's completely standard and won't change your dependent status at all. Here's what you need to do: simply fill out the W-9 form electronically through Robinhood's app or website with your legal name, current address, and Social Security Number. Sign it digitally and submit it. That's it! Your account should be unrestricted within 1-2 business days. Your parents can still claim you as a dependent on their taxes exactly like before. The only thing that might change later is if you make more than $1,250 in investment income (capital gains + dividends combined), you may need to file your own tax return to report that income - but you'd still remain a dependent on your parents' return. Don't let this hold you back from learning about investing! Just get that W-9 submitted and start your trading journey. And definitely keep good records of all your trades from day one - you'll thank yourself later at tax time.

Hey Noah! I completely understand your confusion - I was in the exact same situation when I first opened my Robinhood account as a dependent college student. The W-9 request totally caught me off guard too! Don't worry - you're definitely overthinking this. The W-9 form is just standard paperwork that ALL brokerages are required to collect from their users. It has absolutely nothing to do with your dependent status or your parents' taxes. You're not "claiming independence" or creating any new accounts with the IRS. All you need to do is fill out the W-9 with your basic info: your legal name, current address (your dorm or home address is fine), and your Social Security Number. Then just submit it electronically through the Robinhood app. Your account will be unrestricted within a day or two. Your parents can still claim you as a dependent exactly like they always have. The W-9 is purely so Robinhood can send you (and the IRS) tax forms at the end of the year if you have any reportable trading activity. Even as a dependent, you're still responsible for reporting your own investment income if you make any. Just fill it out and don't stress about it! Welcome to the world of investing - you're going to learn so much. And hey, keep track of your trades from the beginning - it'll make tax time much easier if you do well with your investments!