It's worth mentioning that if this is a side gig on top of your regular W-2 job, you might need to make quarterly estimated tax payments next year if you expect to owe more than $1000 in taxes from your self-employment income. You can get penalties if you wait until filing season to pay everything!

Yes, you absolutely need to report both income sources! The $950 from DoorDash and $135 from Grubhub must both be reported on your tax return, regardless of how small the amounts seem. Here's the key rule: There's NO minimum threshold for reporting self-employment income. While companies only send 1099-NEC forms when you earn $600 or more (so you might not get one from Grubhub), you're still legally required to report ALL income you receive. Since your combined total is $1,085, you'll also need to pay self-employment tax (15.3% for Social Security and Medicare) because you're over the $400 threshold. You'll report everything on Schedule C and calculate the SE tax on Schedule SE. The good news? You can deduct legitimate business expenses like mileage (67¢ per mile for 2024), portion of your phone bill, insulated bags, car chargers, etc. These deductions reduce your taxable income and can make a significant difference in what you owe. Since both gigs are delivery work, you can combine them on a single Schedule C rather than filing separate forms for each app. Keep good records of everything in case of questions later!

Great question about bonus depreciation! Just to add another perspective - I went through this exact decision last year with a $15k roof replacement. I ended up taking the bonus depreciation because my income was unusually high that year due to a consulting contract. One thing that helped me decide was running the numbers both ways. I calculated the present value of the tax savings from taking the full deduction now vs spreading it over 27.5 years. With my tax rate and the time value of money, taking it all upfront saved me about $800 in real terms. Also worth noting - if you're doing any other major improvements this year (windows, flooring, etc.), you might want to coordinate the timing. Sometimes it makes sense to bunch deductions in high-income years and spread them out in lower-income years for optimal tax planning. Your accountant will definitely want to review this when they get back, but the software isn't wrong - you do have the option!

This is such a timely question! I just went through the same decision process with a $12,000 roof replacement on my duplex. What really helped me was thinking about it from a cash flow perspective rather than just the tax savings. Since you mentioned having substantial income this year that could be offset, bonus depreciation sounds like it could work well for you. I ended up taking the full deduction because I'm in the 24% bracket this year but expecting to drop to 22% when I semi-retire in a few years. One practical tip - make sure you document WHY the roof needed to be replaced (storm damage, age, etc.) and keep photos if you have them. The IRS likes to see that improvements were necessary rather than just cosmetic upgrades, especially for larger amounts like yours. Also, don't stress too much about the decision being permanent for future improvements. Each qualifying improvement is evaluated separately, so you can always choose regular depreciation for future projects if your tax situation changes.

Don't stress too much about the as-of date changes - I've seen this happen countless times and it's usually just the system doing background processing. The fact that it moved from March 1st to April 15th suggests they're still working on your return. With EIC and CTC claims like you mentioned, it's pretty normal for these dates to jump around while they do their verification checks. Keep monitoring for actual transaction codes like 846 (refund issued) or 570 (additional account action pending). The waiting game sucks but you're still well within normal processing timeframes!

I went through the exact same thing last month! My as-of date jumped from Feb 10th to March 31st with zero other changes, and I was freaking out thinking something was wrong. Turns out it was just their system doing routine processing checks. About 2 weeks after that date change, I finally got my 846 code and refund. The waiting is brutal but try not to read too much into the as-of date alone - focus on watching for actual transaction codes that indicate real movement. Hang in there! 🤞

I had the exact same thing happen to me last year! The "INFO" status with that adjustment message appeared even though I never requested anything. Turns out the IRS was just doing some routine account maintenance on their end. It cleared up after about 3 weeks and my refund processed normally. Since your previous years show $0 balances, you're probably fine - just the system being the system. But definitely keep an eye on it and maybe check back in a week or so to see if it updates.

I work as a tax preparer and see this "INFO" status frequently during this time of year. The IRS runs automated system updates in January/February to prepare for the upcoming filing season, which can temporarily lock access to account information. The fact that your 2022 and 2023 years show clean $0.00 balances is actually a good sign - it means those years are fully processed and settled. The 2024 "adjustment" message is likely just the system's way of saying "we're working on something in the background" rather than indicating any actual problem. Most of my clients who see this status have it resolve within 2-4 weeks without any action needed on their part.

Just amended my 2023 return last month. Used turbo tax and it wasnt too bad tbh

Just went through this exact situation last year! You definitely need to file the amendment separately - there's no way to combine tax years. I made the mistake of waiting thinking it would be easier and ended up paying extra interest. The good news is that if you owe money, the sooner you file the amendment, the sooner the interest stops accumulating on the additional amount. If you're getting a refund from the amendment, you'll want to file ASAP to get that money back. Don't procrastinate like I did!