you may want to consider a tax attorney as well.

More from VA's tax site, if your employer withheld for you in both DC and VA:

Nonresidents:

If you are a resident of a reciprocity state, accept employment in Virginia, and meet the criteria for exemption, complete Form VA-4 to certify your exemption and give the form to your employer. You will need to re-certify your exemption every year.

If your employer withholds Virginia income tax and you find out that you are exempt, correct your withholding information with your employer for the future, and file Form 763-S to claim a refund.

Sometimes you got to keep it simple. Do a few examples of the rule of 72 to show the power of compounding interest

yeah it’s kinda weird bc in 2021 I noticed they had me paying VA income taxes even though I lived in DC, it was a mistake that I flagged and got it fixed. Now all my paystubs for this entire year say I paid DC taxes, so I have no clue where the VA withholding came from. Maybe they never corrected the issue on their end last year? not even sure if that makes sense lol I really don’t know a lot about taxes

Because in real life you will often find many unexpected challenges. If you're prepared for these challenges, you can overcome them. If you are not prepared, those unexpected surprises may ruin your life.

It looks like it's still available. https://download.cnet.com/Microsoft-Money-Plus-Sunset-Deluxe/3000-2057_4-77545178.html

>But in the long run is it a good idea to do that?

Yes, you've been an adult for eight years.

If you want to give them money write them a check

I started the SP in MS but have since moved to TN. Also another part of the process was moving the business to a new state as well

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Thanks.

Thanks.

It's super easy to do in most states. Not sure which state you are in, but I've had three LLCs in three different states and they all took about 15-30 minutes to create and cost about $200 each to file. The hardest part was picking the LLC name ha!

Yes, I have done that. Now, how much they retain afterwards is on them.

I even had them make a spreadsheet that calculates how much Federal Income & FICA they would have to pay. I even included the SS cap and Medicare "bump".

It seems that’s the case. I forgot they did.

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When you do Budgeting...teach a couple variations...including zero based budgeting and envelope style...and how the opportunity costs when you plan you dollars help improve decision making. Include the idea of sinking funds...budgeting for irregular but known expenses.

Writing checks

Tax withholding

Estate planning

Marriage impacts (legal and financial)

Inflation

Fixed income/bonds

Housing

Time value of money

1099 vs employee

Dependency (taxes vs fafsa)

Employee benefits

Market timing

Some of these may be subtopics you already have

I think that is a great idea to discuss this with trusted co-workers. Maybe even contact someone in a related field to see what they think outside of your firm.

That being said, I have no idea why your employer is withholding both DC and VA for you. Given that, you will have to file in both and claim your DC tax paid in VA to get your money back. I would get that fixed ASAP for future years.

Thanks for the comment. I think I went with fzrox and FZILX initially because they are zero fee? I'm unsure. I wasn't aware that FSKAX was basically the same.

Is there an equivelent for FZILX for the reason you mentioned previously (being able to transfer it)? Are just the 2 good enough or do you have any additional recommendations?

Not sure if this would be a full lesson but something along the lines of scams to look out for, how to protect identity and credit freezing, what to do if something happens, why co signing and loaning money can be an issue. I assume those would be in each category but could be a great reminder towards the end after all lessons have been taught. Negotiating salary and prices could also be a great lesson.

I had the bright idea to move my entire 401k balance into company stock, just prior to leaving WorldCom in 1999 because the internet isn't going away, right?

I would advise against a similar course of action for you.

How are "Employment", "Loans", "Starting a Family" and "Stock Market" each a singular topic???? especially when compared to things like "Debit Cards"?

Your tax preparer should be working for you, not you working for them. TP is welcome to give their recommendations...that's what you want, frankly. But you call the shots. If TP isn't willing to do things the way you want, then, yes, you need to break up.

Same with a Financial Advisor. They work for you. They do things the way you want. They give you advice and make recommendations, but in the end it's your call. And if they can't handle that, you need to break up.

I think you need a tax advisor, not just a tax preparer.