Bailout and payroll

The One Comfort you can have over all these trillions being rang up is the dollar is still the strongest currency in the world.

And every other country is going to be in the same boat as us bailing their people out, Europe especially.

And don't worry about China they were one foot off the ledge before this all happened , only a strong wind in their face was keeping them from going over.

 

GOING to?

 

My states’s unemployment web site.......

 

Kinda like ours. Your not eligible but might be now. But don’t file yet because we don’t know how to handle it. Problem is I make unemployment insurance payments on myself every quarter. They have that figured out for the last 5 years I been paying into it.

 

Me too. I think that it is a grey area...I have a corporation that employs 1 person which is myself. I do also quarterly payroll in which required by law contribution to Illinois Department of Employment Security is done. Strictly self - employed, or self -proprietors don't contribute, as far as I know. For instance those, so called contractors, paid on 1099 are "self employed" and they don't contribute. .

 

Same here, I have S Corp, pay myself $50k on W2 and the rest goes as corporation profit. Was told by CPA otherwise it would be illegal.

 

The loans under this stimulus are available whether sole proprietor, independent contractor, s-corp, etc.

But if you get a loan, aside from the $10,000 advance, you have to pay it back unless you can prove you used it to pay your employees, utilities, or other requirements stipulated.

The $10,000 is free money. First come, first serve, up to 10 billion. So that means only 1 million businesses and business owners will get it.

I think it went online after midnight on the 30th. I filled mine out about 5pm on the 31st and I think I was too late. Oh well, it was worth a try.

Any additional loans have to be done through a lending institution. On this one, you just put in your bank info and the $10,000 is directed deposited if you're one of the lucky first million.

The unemployment insurance is a whole different scenario, state by state. In my state there are very strict guidelines. I'm not technically unemployed, I just don't have any work.

 

"DUNE-T, post: 10188861, member: 164590"
Yeah, hey, I know this is all going down. I thought I might as well put in for the free 10k, but I'm not taking any loans.