. @ManasaSogNadig I'm not an expert in visas, so I'm going to 'punt' on that part. But in terms of the rules for the #PPP, it explicitly excludes only those workers "whose principal
23 place of residence is outside of
24 the United States."
23 place of residence is outside of
24 the United States."
@cjthehoo
Great Q. And another one where there is no clear answer. However, as odd as it may seem, there is a real chance they'll get to keep the full payment, and just have the Treasury write it of as a "math error".
Need add'l guidance.
Great Q. And another one where there is no clear answer. However, as odd as it may seem, there is a real chance they'll get to keep the full payment, and just have the Treasury write it of as a "math error".
Need add'l guidance.
"Trying to figure out something related to the 5-year rule. If someone is in year 5 currently, meaning they were going to have to distribute the rest of their inherited IRA this year, can they now split it over two years, or they can pick this year or next?" @Jerod_Frank
@Jerod_Frank If a Non-Designated Beneficiary inherited from a decedent who died prior to their RBD in 2015 - 2019, 5-Year Rule is now effectively a 6-Year Rule.
Do whatever you want during the 6 years as long as inherited account is totally empty by end of the 6th year after death. #WTYMT
Do whatever you want during the 6 years as long as inherited account is totally empty by end of the 6th year after death. #WTYMT
"Has the deadline for solo 401(k) contributions been extended to 7/15/2020, too?" @JasonTheAdvisor
Notice 2020-23 extends deadline to 7/15/20. Worth noting that although solo 401(k) contributions can be made until then, they needed to be "elected" by 12/31/19 #WTYMT
Notice 2020-23 extends deadline to 7/15/20. Worth noting that although solo 401(k) contributions can be made until then, they needed to be "elected" by 12/31/19 #WTYMT
"Can you do a 100k Roth CONVERSION and spread taxes over 3 years?" @mattgladbach
Assume Q is in ref to Coronavirus-Related Distribution.
If so, I can't cite a reason why you can't, but I wouldn't do it. Not in spirit of the law, and I see regulatory risk #WTYMT
Assume Q is in ref to Coronavirus-Related Distribution.
If so, I can't cite a reason why you can't, but I wouldn't do it. Not in spirit of the law, and I see regulatory risk #WTYMT
@squatcobbleruno
Seems like it would be too good to be true to double dip on expense AND 'free' money. But nothing in #CARESAct that says to negate the expense. So until we hear otherwise, I say take it.
Also, sole prop gets double on all but net SE $
Seems like it would be too good to be true to double dip on expense AND 'free' money. But nothing in #CARESAct that says to negate the expense. So until we hear otherwise, I say take it.
Also, sole prop gets double on all but net SE $
@ColinZizzi
Assuming that the Sole Prop had no employees, then yes. Assuming net Sched C => $100k, then $20,833 is max loan. BUT full thing can be forgiven if during 1st 8 weeks you send other ~$5k on rent, utilities, etc. #WTYMT
Assuming that the Sole Prop had no employees, then yes. Assuming net Sched C => $100k, then $20,833 is max loan. BUT full thing can be forgiven if during 1st 8 weeks you send other ~$5k on rent, utilities, etc. #WTYMT
