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BulldogTom

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About BulldogTom

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  1. I wonder if that is a technical oversight that treasury/sba will correct or if that is what they really intended to say? Tom Modesto, CA
  2. There has been some stuff floating around the internet that "any business debt interest" for a loan in place on 2/15/20 can be used for the non-payroll portion of the forgiveness, not just mortgage interest. I read an article after the new rules were published around May 22nd that said basically that. It may be an optimistic reading of the third iteration of the interim final rules. That may be the point the banker was trying to convey to your client? And if his banker for his line of credit also wrote the PPP loan, he may be trying to get your client to tap the PPP to get his loan balance down? Tom Modesto, CA
  3. BulldogTom

    QBI

    Remember, a set of "books and records" does not mean they have to have an accounting program. An excel spreadsheet is books and records. The only thing I would advise if they are not doing it is to have a separate bank account for the rental activity. And reconciling it every month adda hours to the time spent on the rental activity. Tom Modesto, CA
  4. Only available for 2019 tax year. Nice to see they are working on this. Hopefully it works well and they can expand it to all open years in the near future. Tom Modesto, CA
  5. Could you translate this down to 1996 techie knowledge? Tom Modesto, CA
  6. My first job out of college was using UltraTax. When I started my own practice in 1997, I used ProSeries PPR. In 2001, I switched to ATX. Looked at Drake in 2012 but could not make myself pull the trigger. I probably should have, so now I am ATX for life. Tom Modesto, cA
  7. But my tech skills are the same as my music preferences....stuck in the 80's and 90's. Tom Modesto, CA
  8. I think the better solution is to have the charity write a check to pay back the loan, then write a check back to the charity and get a receipt. Not saying your plan won't work, but I would have a hard time documenting the forgiveness to the level that would pass IRS standards. Tom Modesto, cA
  9. Wow. I would have dismissed that out of hand as a scam. I just assume that anything that comes via email purportedly from a big business or government agency is always a scam. Thanks for the education. Tom Modesto, CA
  10. I am going to make some changes to my ISP in a few months. I currently have AT&T for my office and cable internet for my home. I am going to drop AT&T but I want to keep my att.net email addresses. I have 3 of them. I looked online and AT&T says there is no issue with keeping your email accounts so long as your account is in good standing. Does anyone have experience with leaving AT&T and keeping their email addresses? Thanks Tom Modesto, CA
  11. At the top of the page, under where it says "ATX Community" is a tab named "Donate". Tom Modesto, CA
  12. What Judy said, plus you need to have a credit card on file to pay the fees. The one I did this year, they did not charge me for, or at least it has not shown up on my Credit Card yet. Tom Modesto, CA
  13. I will do it at my day job to ensure the owners of the company get the maximum forgiveness. Whatever it takes, even though I would prefer not to do it. Tom Modesto, CA
  14. I assume that just like the SBA loan form, the lenders will have their own version, and I bet you will be able to fill it out online and upload supporting documentation. Tom Modesto, CA
  15. This is the final paragraph of a very long article on PPP loan forgiveness. Pretty much sums it up. Tom Modesto, CA
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