Same thing happened to me last year with Cash App! The deposit literally appeared out of nowhere on March 5th (my DDD) at like 6 AM - no pending notification or anything. Cash App is different from traditional banks in that they don't show pending ACH transfers. Your WMR showing approved with a March 5th date means you're all set. The IRS batch processes refunds overnight before the deposit date, so you'll probably wake up March 5th and see it there. Don't stress about what you're seeing on social media - everyone's timeline is different based on when they filed and how complex their return is.

I went through this exact same situation with Cash App last year! Filed early February, got approved with a deposit date, but Cash App showed absolutely nothing pending. I was panicking because I kept seeing posts about people getting their refunds early. But then on my exact deposit date, boom - the money just appeared in my account around 5 AM with no warning. Cash App doesn't do the pending deposit thing like traditional banks. If your WMR shows March 5th as your deposit date and you're approved, that's when it'll hit. The IRS is pretty reliable with those direct deposit dates. Try not to stress about the social media posts - everyone files at different times and has different processing situations. You're right on track!

Has anyone compared the audit protection features between these options? That's one thing that always makes me nervous with a small business. TurboTax's audit protection seemed decent but not sure about the others.

I'm in almost the exact same situation! Started an LLC last year for a small consulting side business and TurboTax hit me with that ridiculous $1,300 fee. I ended up going with TaxAct and paid around $90 total. The interface definitely isn't as sleek as TurboTax, but it handled my Schedule C perfectly fine and walked me through all the business deductions step by step. For a straightforward LLC situation like yours (pass-through entity, basic expenses), any of these alternatives should work great. One tip - make sure you have all your business expense receipts organized before you start. The cheaper software options don't have as much hand-holding when it comes to suggesting deductions you might have missed, so you need to be a bit more proactive about knowing what you can deduct.

As someone who made this exact switch as an audiologist, I strongly recommend having her talk to an accountant who specializes in healthcare professionals before making any decisions. There are some healthcare-specific considerations that general tax advice might miss. For example, malpractice insurance is typically covered by employers for W-2 employees but can cost $5k-$10k annually for independent contractors. Also, the Qualified Business Income deduction (Section 199A) has special limitations for healthcare professionals that might affect the calculation.

I'm a CPA who works with a lot of healthcare professionals, and this is a decision that really depends on the specific numbers and circumstances. The key factors to consider: **Tax implications:** Yes, she'd face the full 15.3% self-employment tax vs. splitting it with her employer now. But she'd also gain access to business deductions and potentially the 20% Section 199A deduction (though this has income limitations for healthcare professionals). **Benefits analysis:** Quantify what she's currently receiving - health insurance, retirement matching, malpractice coverage, paid time off. These often add 25-35% to total compensation value. **Business expenses:** The mileage between office locations could be deductible (not home commuting), continuing ed costs, home office if used exclusively for work, equipment, and professional licenses/memberships. **Quarterly taxes:** As a 1099, she'd need to make estimated quarterly payments and manage cash flow more carefully. My recommendation: Have her request the specific compensation increase needed to make 1099 worthwhile (usually 30-40% more than current W-2), then run detailed projections with a healthcare-focused CPA. The employer might decline anyway since reclassifying employees as contractors has IRS compliance risks if she doesn't meet true independent contractor criteria.

Just wanted to add another important consideration - make sure you understand the difference between deductions and credits. A lot of people get confused thinking a $54k deduction means $54k back in their pocket, but as Olivia mentioned, it's a reduction in taxable income, not a dollar-for-dollar credit. Also, consider the timing of your purchase. If you buy the van late in the year, you can still take the full Section 179 deduction for that tax year (assuming it meets the business use requirements). But if you're planning to use actual expenses method instead, you might want to factor in when you'll have the most business income to offset. One more thing - if you're financing, remember that the interest on a business vehicle loan is also deductible as a business expense. So even though financing doesn't change the depreciation/Section 179 deduction, you get additional deductions for the interest payments over the life of the loan. Given that you currently owe $5-7k in taxes annually, a large deduction like this could potentially eliminate your tax liability entirely in the first year, depending on your total business income and other deductions.

One thing I'd strongly recommend is getting professional tax advice specific to your situation before making this purchase decision. While the general information shared here is helpful, a $72k vehicle purchase with potential $50k+ deductions can have significant implications for your overall tax strategy. A qualified tax professional can help you model different scenarios - new vs used, Section 179 vs regular depreciation, timing of the purchase, etc. They can also ensure you're maximizing other business deductions you might be missing and help you plan for future years since taking a large Section 179 deduction in year one affects your depreciation options going forward. Also consider your business income projection for this year. If you're typically owing $5-7k in taxes, that suggests your taxable business income is probably in the $20-30k range (depending on your tax bracket). A $50k+ deduction might create more tax benefit than you can use in one year, so understanding carryforward rules or alternative strategies could be valuable. The mileage tracking advice everyone mentioned is crucial too. Start tracking now with one of those apps before you make the purchase - it'll give you concrete data on your actual business use percentage and help justify your deductions.

One thing nobody mentioned yet is that you may still be required to file FBARs (FinCEN Form 114) if your foreign bank accounts exceed $10,000 in aggregate at any point during the year. This is separate from tax filing!

Hey Kristian! I was in almost the exact same situation a few years ago - dual US/German citizen who moved abroad at 18 and was completely overwhelmed by the tax requirements. Here's what I wish someone had told me from the start: Yes, you absolutely need to file US taxes every year regardless of where you live or work. But the good news is that with the Foreign Earned Income Exclusion and Foreign Tax Credits, you'll likely owe $0 in actual US taxes on your Italian income. A few practical tips for your situation: - You can use your Italian address on your US tax forms - Keep detailed records of your days outside the US to qualify for exclusions - Open a separate folder for all tax documents now - you'll thank yourself later - Consider getting professional help for your first filing to understand the process The filing deadline for expats is automatically extended to June 15th (with option to extend further to October 15th), so you have more time than US residents. Don't let the complexity scare you away from compliance - the penalties for not filing are much worse than just doing it properly from the start. Feel free to ask if you have specific questions about the process!