Hi Everyone, still here! I always read the blogs but fell off from posting.
Things are going well, I'm feeling good and my health has improved and stabilized after a somewhat rocky 2023.
Financially, some goods and some bads. Some of my expenses increased. My monthly condo fee increased by $25 a month. I can't really complain because in the 6 years I have lived here this is only the 2nd increase. The first only went up by $5 per month, so this one was the largest at the $25 per month. I still feel that I get my money's worth and then some.
The ACP program internet subsidy that I was receiving expired. The federal government did not re-fund it, so my internet bill went back up by the $30 I was receiving per month. I am very grateful for the time that it was funded.
Energy prices have increased, so I applied for energy assitance last fiscal year and was approved. It did not cover my entire monthly utility costs, but did help quite a bit. I will be appying again when the new fiscal year starts July 1st. The payment does not come to me, it goes directly to my energy provider.
I am expecting my property tax bill to increase this year as a new assesssment was done and the value of my condo skyrocketed. I applied for, and was approved for the low income property tax credit again, but do not know the dollar amount yet. It never covers the whole bill but does help quite a bit.
I have also been increasing my income a bit. I am still doing the online earning through Swagbucks and My Points, but have added a third site, as well as spending more time on it everyday. I had been earning about $200 a month, but have now bumped that up to about $300 - $350 per month!
And finally, I have been Door Dashing with my BF!! She applied, so the account is in her name, and she has an EV so she does all the driving (no gas costs) and I do most of the going in to pick up the orders, and getting out to deliver it. It works out great because she loves to drive and I don't, and she doesn't like all the rest of it, but I do. I like the exercise! We split the pay when it comes in to her account. We mostly do lunch shifts and some dinner shifts, and are very picky about where we deliver to. We don't do it after dark. We don't Dash everyday and take days off when we want to. It has been so much fun and the money has been pretty decent. We just started in May so after we get a few months in I'll update more on the actual numbers to get an average.
Well, this is getting long, I'll try and post more often again. Hope everyone is doing well!
June 14th, 2024 at 06:45 pm 1718387151
June 15th, 2024 at 03:57 am 1718420233
June 16th, 2024 at 07:30 pm 1718562637
I'm glad you're enjoying the Door Dashing, but this is tricky tax-wise. Your friend will be getting a 1099-NEC next year from Door Dash, documenting her earnings and she will be adding a Schedule C to her tax return (which will allow documentation of expenses), and she will owe self-employment tax (15.3% of profit) on this, which will show up as included in HER earnings for Social Security. The government expects quarterly estimates (tomorrow 6/17 is the deadline for Q2--only because the 15th fell on a Saturday--the quarterly dates are 4/15, 6/16, 9/15 and 1/15 of the following year). Since you just started in May, you don't need to worry about the missed 4/15 deadline and chances are your Q2 income will be lower, but you might want to think about this before 9/15.
Also, since you are splitting the income, your friend should be issuing YOU a 1099 next January to document the amount that she is paying to you, which will enable her to deduct that as part of her expenses. Receiving that 1099 would allow you to put your share of the income and expenses on your own tax return. Or, better yet, you could each have your own account and get your own 1099-NEC from Door Dash. That is "cleaner."
Sorry to be a party pooper but it's better to be aware of these issues than have your friend get a nastygram from the IRS and for it to end up causing issues between you later.
June 17th, 2024 at 04:32 pm 1718638375
June 17th, 2024 at 05:11 pm 1718640705
July 3rd, 2024 at 11:22 pm 1720045340