1. Is there a way to get out of the late filing penalty on a 1065 other than the 1st time penalty abatement?
2. I took the BTID class Monday-I thought the PPP forgiveness discussion was excellent. Could you summarize the 3 overall bits of practical guidance you gave?
3. My client got an EIDL grant and an EIDL loan too. They got that money at 3.5% and used it to pay off their 6% line of credit. I thought I heard you say that’s a non-no. What is the problem.
4. I have a client that works for her employer in Maryland and lives in North Carolina. She is now working from home. Any issues?
5. Can a single member LLC pay the owner a wage? I have been told yes by my payroll service company.
6. Can I make a mid-year “S” termination election?
7. With these new 5 year NOL carryback rules can I carry an NOL back to a closed year?
8. I keep hearing an add from a local CPA that everyone now gets a $300 charity deduction. Is that really correct?
9. I know they waived the RMD rule for people affected by Covid-19, but what about the rest?
10. Will you have the USB drive available this year and will it have the new engagement and other letters?
11. The client’s employer provides them with a child care fringe benefit. Can the client also take the child care credit for any excess costs?
12. Are we required to attach basis schedules this year-I read on Google we now had to.