Wouldn't hiring someone just for this purpose seem suspicious to the IRS? Like you're just trying to create a loophole? I wonder if that would hold up in an audit.

It's not about creating a loophole - it's about satisfying the specific requirements of the tax code. The IRS doesn't require that the presenter be a long-term employee. The key is proper documentation and following the letter of the law. The award must be for a legitimate business achievement, the presentation must be meaningful, and everything must be documented in corporate records. Having a third party involved actually strengthens the legitimacy since it creates the arm's-length transaction the IRS is looking for. My accountant has had several clients use this approach successfully through audits. Remember - tax avoidance (legal) is different from tax evasion (illegal).

The benefit can actually be up to $1,600 if it's part of a qualified plan, not just $400. Plus, remember this is completely tax-free to you as the recipient too, so you're saving both corporate and personal income taxes. That makes it more valuable than just the corporate tax savings. But I agree there are bigger fish to fry in C corp tax planning.

So if my employer has fewer than 50 employees but still provides insurance, what form should I expect? I work at a small business with about 20 people total.

If your employer has fewer than 50 full-time employees, they're not required to provide a 1095-C form. In that case, your insurance company might send you a 1095-B instead, though many insurers have stopped automatically sending these unless requested. The good news is you don't actually need either form to file your taxes. You can simply indicate you had coverage when your tax software asks. These forms are primarily for your records and to verify coverage if there's ever a question about it.

Yes, you can skip it! On that screen there should be a button that says something like "I don't have this form" or "This doesn't apply to me" - it's usually at the bottom of the page. Click that and it'll let you move past that section without entering any 1095-A information.

Thanks! Found it hiding at the very bottom of the page. Wish they made these skip options more obvious for forms that many of us don't need.

What about property tax records? I've been keeping those forever because I'm not sure when it's safe to get rid of them.

For property tax records, you should keep them at least until you sell the property, plus 3-7 years after that. They're important for calculating your basis in the property when you sell, which affects your capital gains tax. If you've made improvements to the property that increase its value (renovations, additions, etc.), definitely keep those receipts as they adjust your basis and can reduce your capital gains when you sell.

I use Microsoft Lens on my phone and it works great! Creates clear PDFs that I store in an encrypted folder. Just make sure to back them up somewhere secure like an encrypted external drive or password-protected cloud storage. Regular phone backups aren't secure enough for tax docs.

So what about those stock trading apps that give you free fractional shares as bonuses? Like I got $10 of Apple stock for signing up. Is that different from getting free Bitcoin?

Yes, that's completely different. The free fractional shares of traditional stocks (like your Apple stock) aren't considered digital assets for this tax question. Those are still traditional securities that happen to be held electronically. The digital assets question is specifically targeting cryptocurrency and blockchain-based assets. Your fractional Apple stock will be reported on a normal 1099-B as a standard security, while cryptocurrency has different reporting requirements, which is why the IRS has this separate question.

If you're unsure about TurboTax questions, I'd recommend trying FreeTaxUSA instead. Their questions are much clearer about digital assets vs regular investments. I switched last year and it was so much easier to understand!

Can I get the Earned Income Credit if my parents still claim me as a dependent though? And how do I find out what my state offers for students specifically?

You generally can't claim the Earned Income Credit if someone can claim you as a dependent, so that would rule you out if your parents are claiming you. For state-specific education benefits, just search "[your state] education tax credits" or check your state's department of revenue website. Most states have a dedicated section for education-related tax benefits. Some states like Minnesota, Wisconsin, and New York have fairly generous education deductions or credits even beyond what's available federally.

This is true! I work at a university financial aid office, and we always tell students to keep all receipts and even emails/syllabus pages that show requirements. The IRS can be picky about what counts as a "required" educational expense vs. a personal preference.