One thing I'd add to this discussion is to be mindful of the timing throughout the year. Since you're working with a $1,250 annual threshold, you don't want to accidentally realize all your gains early in the year and then miss out on additional harvesting opportunities if the investments continue to appreciate. I've found it helpful to spread the harvesting across multiple quarters - maybe $300-400 per quarter - which also helps with dollar-cost averaging when you rebuy the positions. This approach also gives you more flexibility if market conditions change or if you discover additional tax-efficient opportunities later in the year. Also worth noting that if your children are approaching the age where they might start having summer jobs or other income sources, you'll want to factor that into your multi-year harvesting timeline. The strategy becomes less effective once they have significant earned income that might push them into higher tax brackets.

This is a great discussion! I want to add one important consideration that I learned the hard way: make sure you understand your state's tax treatment of capital gains for minors before implementing this strategy. While the federal $1,250 threshold is clear, some states have different rules or lower thresholds for unearned income. In my state, for example, capital gains above $500 for minors are taxed at the parent's marginal rate, which completely changed the math for our harvesting strategy. I'd also recommend keeping detailed records of your cost basis adjustments. Even though you're doing this legally, having clear documentation of the sale dates, purchase dates, and the tax rationale will be helpful if you ever face questions down the road. The IRS likes to see that UTMA transactions are clearly in the child's best interest, and systematic tax planning definitely qualifies. One last tip: consider using this opportunity to diversify if your UTMA is concentrated in just a few positions. You can harvest gains from overweighted positions and rebalance into a more diversified portfolio while still staying under the tax threshold.

Just wanted to chime in about the triathlon training aspect since that's important to you. I'm an EA with my own practice and also train for marathons. The key is setting boundaries with clients. I made it clear from the beginning that I don't work weekends (except maybe a few during peak tax season) and I block off specific training times in my calendar that are non-negotiable. You absolutely can maintain athletic pursuits while being an EA - just structure your practice intentionally!

As someone who's been working in tax preparation for about 3 years now, I can definitely echo what others have said about the EA certification being very manageable while maintaining work-life balance. I passed all three parts in about 8 months while working full-time and training for a half-marathon. One thing I'd add is that your background as a financial advisor will actually be really helpful for the EA exam, especially the individual tax section. You already understand investment products, retirement accounts, and capital gains/losses, which gives you a solid foundation. The H&R Block program is a good start, but I'd recommend supplementing with either Gleim or PassKey EA review materials. The exam tests much deeper knowledge than basic tax prep. For the triathlon training aspect - I actually found that having a structured study schedule helped me stay disciplined with both my training and exam prep. I'd study early mornings before training sessions, which kept me focused and efficient with both activities. One practical tip: consider taking the exams in order (Part 1: Individuals, Part 2: Businesses, Part 3: Representation) rather than all at once. This spreads out the study load and lets you apply what you're learning in real client situations if you're already doing some tax work.

One trick I learned is that the IRS doesn't require equal payments for estimated taxes if your income is seasonal or irregular. Use Form 2210 Schedule AI (Annualized Income) to calculate different payment amounts for each quarter based on when you actually earn the income. Huge help for my lawn care business where I make 80% of my money in summer months!

Just wanted to add something that really helped me when I first started dealing with estimated taxes - you can actually make your payments online through EFTPS (Electronic Federal Tax Payment System) instead of mailing those paper vouchers. It's free to set up and you can schedule payments in advance, which is super helpful for budgeting. Also, if you're really unsure about your amounts, consider the "safe harbor" rule: if you pay 100% of last year's tax liability (110% if your AGI was over $150,000), you won't owe any underpayment penalties even if you end up owing more at tax time. It might mean a bigger refund, but it gives you peace of mind while you're learning the ropes of self-employment taxes. One last tip - keep detailed records of your business income and expenses throughout the year. This makes it so much easier to adjust your quarterly payments if your income changes significantly from what you initially projected.

Wow, this thread has been incredibly comprehensive! As a tax professional who works with international clients, I wanted to add a few final thoughts that might help tie everything together. @Javier Mendoza - you've received excellent advice here. The consensus is absolutely correct: non-resident aliens can claim the Clean EV credit, and your situation looks solid. Since the dealer already processed your point-of-sale rebate based on your qualifying 2023 income, the hardest part is behind you. A few key reminders for your filing: - Make sure you have the dealer's Form 1099-MISC or equivalent documentation showing the credit transfer - Form 8936 works with both 1040 and 1040NR, so your filing status choice won't affect the credit mechanics - Your E3 visa status change mid-year doesn't impact the EV credit eligibility since that was determined at purchase The discussion about the First-Year Choice election has been really thorough. Just remember that while it might simplify some aspects of your return, it's not necessary for the EV credit and you'll want to carefully weigh any treaty benefits you'd be giving up. The resources people have shared (taxr.ai for document analysis and Claimyr for IRS contact) are genuinely helpful for complex situations like yours. Sometimes getting that official confirmation can provide peace of mind worth the investment. One last tip: when you file, double-check that your return properly reflects both the credit benefit you received and your visa status timeline. Consistency in how you report everything will help avoid any potential questions down the road. Good luck with your filing - you're well-prepared thanks to all the great advice in this thread!

Thanks so much to everyone who contributed to this thread! As someone who's been lurking here for a while but never posted before, I have to say this is exactly the kind of detailed, real-world guidance that makes this community so valuable. I'm actually in a somewhat similar situation - currently on an H1B visa and considering an EV purchase next year. Reading through all these responses has given me a much better understanding of how the Clean EV credit works for non-residents and the various considerations around visa status changes. A few key takeaways that really stood out to me: 1. The confirmation that non-resident aliens CAN claim the EV credit as long as they have US tax liability - this wasn't clear to me from the IRS publications alone 2. The income threshold using the lesser of current/prior year AGI is really helpful for planning purposes 3. The importance of keeping detailed documentation, especially around visa status change timing 4. The resources mentioned (taxr.ai and Claimyr) sound incredibly useful for getting definitive answers on complex situations @Javier Mendoza - it sounds like you're all set! The dealer verification and successful rebate processing is a great sign that everything was handled correctly. The professional insights from @Astrid Bergström, @Daniel Washington, and others really seem to confirm that your situation is solid. For anyone else following this thread with similar questions, the consensus seems clear: don't let visa status uncertainty stop you from claiming credits you're legitimately entitled to, but do make sure you have proper documentation and consider professional guidance for complex situations. Thanks again to everyone for sharing such detailed experiences and expertise. This community is awesome!

Just wanted to add that if you're married but filing separately, the income limit drops to $200k (same as single filers). Also, the credit is "refundable" up to $1,500 per child, meaning you can get money back even if you don't owe taxes. The remaining $500 is non-refundable though, so you need to owe at least that much in taxes to get the full benefit.

One thing to watch out for - if you have multiple kids, each qualifying child gets the full $2,000 credit (assuming you're under the income limits). So a family with 3 kids under 17 could potentially get $6,000 total. Also make sure your kids have valid SSNs before the due date of your return - ITINs don't qualify for CTC, only SSNs do. Learned this when helping my sister with her taxes!