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Started By
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1099 Financial Relief
Posted on 4/22/20 at 6:11 pm
Posted on 4/22/20 at 6:11 pm
I do consulting work (1099). Like everyone else, my work is shut down. Cannot find any info on financial relief for 1099’s.
4
Posted on 4/22/20 at 6:14 pm to RedShirt
PUA unemployment or PPP both available for 1099 self employed
Posted on 4/22/20 at 6:18 pm to RedShirt
Get with your local bank quickly. You need 2019 schedule C from your taxes (even if your taxes aren't filed you need the schedule C) Plus a 2-page application to fill out. The amount you can get is: (your schedule C amount)/(52 weeks in a year) * (8 weeks the Gov't will give you for lost money)
Posted on 4/22/20 at 6:18 pm to ValZacs
Thanks
Posted on 4/22/20 at 6:37 pm to wickowick
What about if you only did contract work beginning in September? Does the 2 month average (Thru 2/16/20) work in this situation as well?
Posted on 4/22/20 at 6:46 pm to Muice
Double check but i am almost sure it does - there is specific verbage regarding new or newer businesses
Posted on 4/22/20 at 6:53 pm to ValZacs
What if you've only suffered a 50% decrease in earnings?
Posted on 4/22/20 at 6:54 pm to RedShirt
Mine got approved today. Went through small community bank. Had to turn in all my 2019 1099s. Divide by 12, multiply by 25. Pretty simple.
Posted on 4/22/20 at 7:06 pm to Dayman
quote:
What if you've only suffered a 50% decrease in earnings?
Doesnt matter if you have suffered no loss in earnings
This post was edited on 4/22/20 at 7:07 pm
Posted on 4/22/20 at 7:10 pm to RedShirt
APPLY FOR EIDL LOAN
might be too late
most of us here applied on 3-30
might be too late
most of us here applied on 3-30
Posted on 4/22/20 at 7:15 pm to ValZacs
quote:
Doesnt matter if you have suffered no loss in earnings
So the government is giving away money to all 1099s even if no loss or increase in earnings?
Posted on 4/22/20 at 8:03 pm to Dayman
Pretty much
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