dont forget to file FBAR if u have foreign bank accounts with more than $10,000 combined at any point during the year!!!! this is separate from tax return and has a diffrent deadline (april 15 with automatic extension to oct 15). penalties r crazy high if u dont file this

I went through this exact same situation last year! As an F1 student, you're definitely still in your exempt period since you've only been here 18 months. The 5-year exemption clock starts from your first entry to the US on F1 status, not from when you complete 5 full years. A few important things to remember: - File Form 1040NR (nonresident alien return) - Don't forget Form 8843 to claim your exempt status - this is required even if you have no income - Your on-campus work income is taxable, but make sure to check if your country has a tax treaty with the US for potential benefits - Scholarship money for tuition/required fees is generally not taxable, but amounts for room/board are Since you mentioned being confused by conflicting info online, I'd recommend reaching out to your university's international student services office - they usually have tax workshops specifically for F1 students during tax season. Also, many universities offer free tax preparation assistance through VITA programs that are trained on international student situations. The key thing is don't stress too much - you're still well within the exempt period and have clear guidance on filing as a nonresident alien!

Just a heads up - make sure your employer's educational assistance program actually qualifies under Section 127! My company thought their program qualified, but turns out it didn't meet all the requirements. A qualified program needs a written plan document, can't favor highly compensated employees, can't give more than 5% of benefits to shareholders/owners, and some other requirements. If the program doesn't qualify, ALL of the educational assistance becomes taxable income. Worth double-checking with your HR department!

Great question about verifying your company's Section 127 program! You can start by asking HR for a copy of the written plan document - this is actually required for qualification. The plan should outline eligibility requirements, types of education covered, and how benefits are administered. Key things to look for: the plan can't discriminate in favor of highly compensated employees (those earning over $135,000 in 2024), no more than 5% of benefits can go to shareholders/owners, and it must be a separate written plan (not just mentioned in an employee handbook). If HR can't provide the plan document or seems unsure about these requirements, that's a red flag. You might want to ask your tax preparer to review the plan details, or consider getting clarification from the IRS directly about whether your specific situation qualifies for the exclusion. Better to find out now than during an audit later!

I can share my recent experience with Republic Bank tax refunds! I've had my refund direct deposited with them for the past 3 years and they're consistently one of the faster banks I've dealt with. This year my refund was scheduled for March 3rd and I received it at 11:47 AM that same day - I remember the exact time because I was anxiously checking my account all morning! From what I've observed, Republic seems to process IRS deposits in real-time once they receive the ACH transfer, rather than holding them until their standard posting times like some banks do. Given that your refund is scheduled for Friday the 21st, I'd plan on having access to the funds by Friday evening at the latest, but quite possibly earlier in the day. For your bill planning, I'd feel comfortable scheduling payments for Monday the 24th, but if you want to be extra conservative (especially with your trip coming up), Tuesday the 25th would give you plenty of buffer. One last tip - if you haven't already, download the Republic mobile app and turn on push notifications for deposits. That way you'll know the moment it hits without having to constantly check your balance. Good luck with your refund and enjoy your trip next month!

I've been banking with Republic for about 2 years now and can definitely weigh in on this! My experience has been very similar to what others have shared - Republic is consistently fast with tax refund processing. Last year my refund was scheduled for February 17th and I had it in my account by 2 PM that same day. This year it was even faster - scheduled for March 10th and available by 9:30 AM. One thing I'd add that hasn't been mentioned yet is that Republic seems to process weekend deposits differently than weekday ones. If your Friday deposit doesn't come through by end of business Friday, don't panic - they sometimes process weekend ACH transfers on Saturday morning. I've seen this happen with other government deposits. For your bill planning, I'd echo what others have said about scheduling for Monday or Tuesday to be safe. But honestly, based on everyone's experiences here, you'll most likely have your money Friday afternoon. Republic has been way more reliable than my old credit union which would hold refunds for "verification" even when there were no issues. Hope this helps with your planning, and have a great trip next month!

I'm in a similar boat as an 18-year-old trying to figure this stuff out! One thing that's helped me is understanding that even though you made a profit, you're probably way below the income threshold where you'd actually need to file taxes. The standard deduction for 2024 is $14,600, so unless you're making close to that from all sources combined (gig work + ticket sales + anything else), you likely don't need to file at all. That said, I'd definitely keep records of the transaction just in case. Save your original purchase receipt and the StubHub payment confirmation. If you do end up needing to file taxes later in the year because your gig work picks up, you'll want to have everything documented. The good news is that at our age, the IRS really isn't worried about small amounts like this. They're focused on people who are clearly avoiding taxes on substantial income. But it's smart that you're asking these questions now - understanding this stuff early will make your financial life so much easier as you get older!

As someone who's been helping people navigate these situations for years, I think you're getting great advice here! Just to add a practical perspective - since you're 18 and this is your first time dealing with tax questions, I'd recommend treating this as a learning opportunity even though the amount is small. The $44 profit you made is technically taxable income, but as others mentioned, you're likely well below the filing threshold if this is your main income for the year. However, I'd suggest keeping detailed records of both the purchase and sale (screenshots, PayPal confirmations, etc.) because good documentation habits will serve you incredibly well as you start earning more. One thing I'd add - if you continue doing gig work throughout the year, you might cross that $14,600 threshold and need to file. In that case, having all your income sources documented (including this ticket sale) will make the process much smoother. Also, don't feel bad about not knowing this stuff! The tax system is confusing, and most 18-year-olds haven't had to deal with it yet. You're being smart by asking questions now rather than figuring it out the hard way later. Consider this a good introduction to the world of tax responsibility!

Has anyone used TurboTax to file in this situation? Does it give you any problems if the name on the 1099 doesn't match your business name?

I can confirm what others are saying here - this is totally normal and nothing to stress about! As a sole proprietor myself, I've received 1099s in both my personal name and business name over the years, and they all get reported on the same Schedule C. The key thing to understand is that for sole proprietorships, you and your business are the same tax entity. The IRS computer systems match 1099s to your SSN, not the name on the form. So whether it says "John Smith" or "Smith Consulting Services," as long as your SSN is correct, you're good to go. I'd recommend just keeping good records showing that this income belongs to your business (like invoices, contracts, etc.) in case you ever get audited, but that's just standard good practice anyway. Report that $14,800 on your Schedule C along with all your other business income and you'll be fine. One less thing to worry about during tax season!