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All-In [47750]
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Posts: 30413
Joined: 11/15/99
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Speaking of unemployment... Can you get it if you're
Mar 31, 2020, 3:22 PM
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self-employed?
My consultant biz has stopped. Ideas (short of being a gigolo)?
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Heisman Winner [135867]
TigerPulse: 100%
Posts: 41633
Joined: 8/26/07
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Ingles is hiring***
Mar 31, 2020, 3:37 PM
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CU Medallion [50635]
TigerPulse: 100%
Posts: 43019
Joined: 12/3/98
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do you pay unemployment insurance on yourself
Mar 31, 2020, 3:40 PM
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you might try small business corona loan for employee salary and it becomes a grant
sure there's a way to game the system
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All-TigerNet [11207]
TigerPulse: 100%
Posts: 14767
Joined: 6/29/01
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Some lady was talking about that on Today this morning
Mar 31, 2020, 3:49 PM
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A question came in from a viewer -- she and her husband own their own business, they are the only two employees and they've essentially not had business since the COVID shelter-in-place orders started, are they eligible for unemployment?
The "expert" on TODAY said no, but that the small business loans that are intended to help pay their employees would apply to their business. Somehow she leapt to that they're the only employees and would be paying themselves it would transform into a grant instead of a loan. She lost me at that point.
Bottom line of her answer was to talk to your bank and ask about the COVID small business loans.
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CU Medallion [64837]
TigerPulse: 100%
Posts: 22718
Joined: 9/27/04
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Re: Some lady was talking about that on Today this morning
Mar 31, 2020, 4:06 PM
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i caught that in the doctors office.
i was about to post it, but i'll let you handle it.
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CU Medallion [64837]
TigerPulse: 100%
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Re: Speaking of unemployment... Can you get it if you're
Mar 31, 2020, 4:06 PM
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RHTIG is looking for a wiping butler and/or a jacking butler.
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All-TigerNet [11207]
TigerPulse: 100%
Posts: 14767
Joined: 6/29/01
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Heisman Winner [135578]
TigerPulse: 100%
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Joined: 12/6/98
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All-In [35541]
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Joined: 4/7/17
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I was reading online today about forgivable loans being offe
Mar 31, 2020, 4:54 PM
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red; up to $10k
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Lot o points [155901]
TigerPulse: 100%
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Joined: 5/6/13
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Bruh, you ain't seen the PPP part of the Cares act?
Mar 31, 2020, 6:00 PM
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You're an employee of your business, no?
PPP loan for up to 2.5x your average monthly payroll.
Keep paying yerself.
Loan forgiven.
Profit
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CU Medallion [54758]
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Joined: 10/1/03
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what if it's a relatively new business, and haven't paid
Mar 31, 2020, 6:07 PM
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yourself yet?
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Lot o points [155901]
TigerPulse: 100%
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All-In [35541]
TigerPulse: 100%
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Joined: 4/7/17
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Lot o points [155901]
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I have some clarification questions into my guy right now
Mar 31, 2020, 6:42 PM
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on that one.
Since sole proprietorships are included, and LLC SP's can intermingle business/personal funds without a formal payroll process, I had assumed so. I'll let you know what I find out if that's the boat you're in.
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All-In [35541]
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Thats the boat I am in***
Mar 31, 2020, 6:49 PM
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Lot o points [163012]
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Joined: 1/17/07
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Yes.
Mar 31, 2020, 6:29 PM
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from what I have read.
Yes, self-employed people are newly eligible for unemployment benefits.
Benefit amounts will be calculated based on previous income, using a formula from the Disaster Unemployment Assistance program, according to a congressional aide.
Self-employed workers will also be eligible for the additional $600 weekly benefit provided by the federal government.
See this article:
https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.htmlAre gig workers, freelancers and independent contractors covered?
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