Yea Nevada is currently saying the same thing but the date is the 25th.
This FAQ from Chuck GrassLOLey is actually pretty clear and helpful. If I’m understanding it correctly, then the $1,200 works like this:
(assuming single filers for simplicity)
- If you made less than $75k in 2019*, then you get the full $1,200 check now, and you don’t have to pay it back even if you make over $100k in 2020.
- If you made more than $100k in 2019*, then you get nothing right now. But, if you end up making less than $75k in 2020, then you will get the $1,200 in the form of a credit when you file your 2020 taxes.
(*) use 2018 if you haven’t filed 2019 taxes yet
Yeah, I’m really interested to see how the self employment thing shakes out. I’m self employed and my business is like 90% gone. Do I qualify? What if it’s 80% of your business, or 99%? What if you are still generating revenue but are no longer profitable? What if you’re taxed as an S-corp? There are just a million possibilities and it seems VERY difficult to come up with a rule set that would make sense, let alone a way to prove the loss of income.
IMO they will either scrap it completely or just give up and give the monies to anyone making a claim who doesn’t have W-2 income.
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LOL, COBRA on $1,200 should go well
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I guess I’m going to call a lender tomorrow and attempt to get in line for this. I’m 100% going to lose income this year, probably a lot, so if I qualify and can get it, I might as well. No point in ruling myself out, if they think I don’t qualify, so be it.
For the business loan or the unemployment? There’s no way you’re qualifying for the former as a poker player. For the latter, nothing has been done yet except a (so far) empty promise and you won’t be eligible.
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People who lose their jobs (and corresponding insurance) automatically get a new enrollment period.
The question is whether or not you should open it up so people who went without can say “Whoops, that seems like a bad decision now, let me buy it!”
I feel like you can’t, and I’m surprised insurers would even be on board with that. If you want to give people that “freeroll” it should just be done through free single payer, even if it’s temporary single payer. To attempt to put that on the Obamacare system would just collapse it IMO.
My reading of the Chamber of Commerce thing is that I have a shot at the loan. I don’t expect to be able to get unemployment. The loan program says it covers self-employed (that’s me) who file a Schedule C (I do) as long as they use the money to pay themselves (what else am I going to do with it?).
It still seems kinda crazy that I’d be taken care of under this bill, but if that’s the way the language reads, I might as well try.
It’ll depend a lot on documentation and stuff that they require, but I think I have a non-zero chance with, “The state closed all the casinos.”
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You can’t apply until April 10th and there won’t be any money left by then since larger businesses will have a full week head start to take it all for themselves (shocking!)
Also, they make it very clear this is to cover payroll. Unless you actually pay yourself a salary under a legitimate business operation, I don’t think you’re going to qualify. I think we both stand a much better chance of being able to get unemployment, although I think that chance is very low too.
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Here’s the actual application:
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The Sba page says it excludes gambling income iirc
My friend in WA can’t get unemployment because she hasn’t been working at her job long enough apparently. Is there anything she can do?
This sounds wrong. What were the circumstances behind her being let go? I’m going to be collecting unemployment from Washington for a job I never even started
It really doesn’t matter how long she has been at her current job. It only matters if she had wages in some part of the 1st 4 quarters of the 5 quarters preceeding the day she filed. If she didn’t, she will only qualify once the federal ‘unemployment on steriods’ kicks in (supposed to be April 1 but who knows how long it will take states to adopt the new rules of the CARES act).
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Ah this might be it. If she didn’t have wages prior to 9/30 then it wont work. If she files on April 1, then she only needs work prior to 1/1 (I believe this is how Washington does it.)
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That’s exactly right. It looks like states are trying to take the new bill into account by the end of this week, so she would also be able to get the additional 600/week if she applies in April sometime.
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Yeah @tabbaker. I would advise her to file again tomorrow if she had wages prior to 1/1 or to hold until we get actual guidance about the additional unemployment, hopefully by the end of the week.
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Yeah the Chamber of Commerce thing made it sound like for someone self employed, “payroll” is what you made last year pro-rated to the length of time in question now. That made me think there’s a chance. I’ll check out the application you linked, thanks!
Looks like there are two loan programs, one of them excludes deriving more than 1/3 of your income from gambling. That’s the economic disaster one. The payroll protection one doesn’t seem to say anything about it.
I’d be surprised if you didnt need to do payroll type things like take out payroll taxes and such in order to qualify
That’s just the ~7.5% that the employer withholds right? I have to pay that first off my schedule C, then my income gets passed to my regular forms and I pay the employee part there. It’s not coming out every 2 weeks, but it’s being paid.