Lee B

She does have family close by, but she doesn't share any personal financial information with most of them. In addition, I don't know and have never talked to any of them.

The key question will be, "Does he do Consulting work for more than one company and receive a 1099 NECs for that work?"

The argument could be made that since he changed full time jobs the three year presumption shouldn't apply. The argument could also be made that even though he changed full time jobs, he is still an employee of his former employer. It really would depend on the specifics of his arrangement with his previous employer.

What was the status of the apartment from January 1st thru March 31st 2021?

More than likely your tax software will assist you: "Residential Energy Efficient Property Credit Limit Worksheet—Line 14 1. Enter the amount from Form 1040, 1040-SR, or 1040-NR, line 181._____ 2. Enter the total of the following credit(s) if you are taking the credit(s) on your 2020 income tax return: + Foreign Tax Credit, Schedule 3 (Form 1040), Part I, line 1 _____ + Credit for Child and Dependent Care Expenses, Schedule 3 (Form 1040), Part I, line 2 _____ + Credit for the Elderly or the Disabled, Schedule R (Form 1040), line 22 _____ + Nonrefundable Education Credits, Schedule 3 (Form 1040), Part I, line 3 _____ + Retirement Savings Contributions Credit, Schedule 3 (Form 1040), Part I, line 4 _____ + Nonbusiness Energy Property Credit, Form 5695, Part II, line 30 _____ + Alternative Motor Vehicle Credit, Personal use part, Form 8910, Part III, line 15 _____ + Qualified Plug-in Electric Drive Motor Vehicle Credit (Including Qualified Two-Wheeled Plug-in Electric Vehicles), Personal use part, Form 8936, Part III, line 23 _____ + Child Tax Credit and Credit for Other Dependents: If filing Form 2555: Pub. 972, Child Tax Credit and Credit for Other Dependents Worksheet, line 16. If not filing Form 2555: Pub. 972, Line 14 Worksheet, line 14 _____ + Mortgage Interest Credit, Form 8396, line 9 _____ + Adoption Credit, Form 8839, line 16 _____ + Carryforward of the District of Columbia First-Time Homebuyer Credit, Form 8859, line 3 _____ Note. Enter the total of the preceding credit(s), only if allowed and taken on your 2020 income tax return. Not all credits are available for all years nor for all filers. See the instructions for your 2020 income tax return.2. 3. Subtract line 2 from line 1. Also enter this amount on Form 5695, line 14. If zero or less, enter ‐0‐ on Form 5695, lines 14 and 1"

Yes that's exactly what I have done with one client the last several years.

For me to move forward I would require the son's signature on my authorization letter.

Sigh, that was back when the program was a extremely large complied spreadsheet, before CCH's 2012 debacle of rewriting the program using a shareware database program

https://www.irs.gov/pub/irs-pdf/f1065x.pdf

Lifetime credit limit of $500 https://www.irs.gov/newsroom/energy-incentives-for-individuals-residential-property-updated-questions-and-answers

We are discussing an S Corp not a Schedule C

What you don't believe the Quickbooks ads telling you that you don't need to know accounting or bookkeeping

You don't say what kind of SIMPLE Plan, what kind of business entity, whether there are other employees? Standard answer is employee contributions must have have been deducted from wages/paychecks as of 12/31/21 And as Margaret says,both the employee and employer contributions need to be paid no later than January 31 2022.

First step is to compare Schedule L to last years trial balance or balance sheet to to see where things are out of balance. Is there a bank account reconciliation for 12/31 available? Does the Depreciation Schedule tie out to Schedule L and the balance sheet? Every amount on Schedule L should tie out to something i.e. Accounts Receivable Detail Report, Accounts Payable o/s Detail Report and etc.

In addition the employer should refund the FICA Taxes that were withheld in error.

I transmitted some Business Entity Extensions this morning and received my acks in less than 15 minutes.

The rules that apply to this situation require the employer to issue a 1099 not a W 2.

Abby, I know that you have posted about this before. Do you use this number for other things too?

Lion, we're not old, we just have lots of knowledge and experience

Lion, Have you considered a career change

Words to live by.

I have a 79 year old client who can't figure out how to use her email anymore.

Good Luck with this one. Over the years I have observed that other professionals have a tendency to think they are the smartest person in the room and when someone sells them on a convoluted tax savings scheme like this they jump all over it!

I wouldn't do that, smart phones are very easy to hack. There is nothing on my smart phone that is identity related or financial related.

Yeah, they are definitly on my s**t list!