Author Topic: Coronavirus Stimulus Aid Package  (Read 69445 times)

Offline S209

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Re: Coronavirus Stimulus Aid Package
« Reply #260 on: April 01, 2020, 03:33:50 AM »
+1

Also heard me that the individual bankers mostly wont be incentivized to get these done because they are not really originating or bringing in the customer.. its all relationship based.

The banks themselves are trying to figure out their commission structure under the bill..
Banks receive a 5% origination fee on loans up to 350K and 3% from 350K-2M. Donít know what they get 2M-10M.
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Offline mgarfin

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Re: Coronavirus Stimulus Aid Package
« Reply #261 on: April 01, 2020, 01:28:12 PM »
Why would an essential worker report to work if his boss has to pay him in any case?

Offline Yammer

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Re: Coronavirus Stimulus Aid Package
« Reply #262 on: April 01, 2020, 01:46:27 PM »
Why would an essential worker report to work if his boss has to pay him in any case?
Was one of the Rs concerns about the package.

Offline mgarfin

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Re: Coronavirus Stimulus Aid Package
« Reply #263 on: April 01, 2020, 03:19:15 PM »
Finding a lender to work with you will be the biggest challenge

https://www.washingtonpost.com/business/2020/04/01/trump-coronavirus-small-business-loan-sba/

Offline aygart

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Re: Coronavirus Stimulus Aid Package
« Reply #264 on: April 01, 2020, 09:23:52 PM »
You have wrong information. The 10K is not repaid under any circumstances.

https://www.sbc.senate.gov/public/_cache/files/9/7/97ac840c-28b7-4e49-b872-d30a995d8dae/F2CF1DD78E6D6C8C8C3BF58C6D1DDB2B.small-business-owner-s-guide-to-the-cares-act-final-.pdf
Ok thanks. Will look into it.
Does this require having employees? I did not remember seeing that it did. Is there any reason this can't be claimed by every LLC owning a property?
Feelings don't care about your facts

Offline zevi

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Re: Coronavirus Stimulus Aid Package
« Reply #265 on: April 01, 2020, 09:30:01 PM »
Is there a minimum amount of time  you had to be employed to receive unemployment ?

Offline cgr

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Re: Coronavirus Stimulus Aid Package
« Reply #266 on: April 01, 2020, 10:06:08 PM »
Is there a minimum amount of time  you had to be employed to receive unemployment ?
Usually yes, but with PUA you don't have a minimum requirement.

Offline etech0

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Re: Coronavirus Stimulus Aid Package
« Reply #267 on: April 01, 2020, 10:17:54 PM »
Is there a minimum amount of time  you had to be employed to receive unemployment ?
Waived in NY at this point
Workflowy. You won't know what you're missing until you try it.

Offline CountValentine

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Re: Coronavirus Stimulus Aid Package
« Reply #268 on: April 02, 2020, 08:03:20 AM »
Irs free file
That is not the complete answer to his question.
Before getting to tricks of the pros, let's wait and see if the IRS opens a system for these cases. They did give indication that they may do something.
Tried two sites and it will not let you e-file if your income is zero. Says IRS will not accept e-file for it and must be mailed.
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Offline mgarfin

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Re: Coronavirus Stimulus Aid Package
« Reply #269 on: April 02, 2020, 03:05:11 PM »
This PPP calculator seems to be very good. it has the option for sessional and new businesses too
https://www.nav.com/cares-act-sba-loan-calculator/  

Offline etech0

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Re: Coronavirus Stimulus Aid Package
« Reply #270 on: April 02, 2020, 03:12:16 PM »
who is nav.com?
Workflowy. You won't know what you're missing until you try it.

Offline mgarfin

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Offline justmeha

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Re: Coronavirus Stimulus Aid Package
« Reply #272 on: April 02, 2020, 03:22:47 PM »
Tried two sites and it will not let you e-file if your income is zero. Says IRS will not accept e-file for it and must be mailed.
https://www.washingtonpost.com/business/2020/04/01/bailout-checks-social-security/

Offline TBD

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Re: Coronavirus Stimulus Aid Package
« Reply #273 on: April 02, 2020, 04:33:24 PM »
Application form

Offline shwarmabob

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Re: Coronavirus Stimulus Aid Package
« Reply #274 on: April 02, 2020, 04:34:01 PM »
Waived in NY at this point
are you serious? can you point to a source?
tnx

Offline etech0

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Re: Coronavirus Stimulus Aid Package
« Reply #275 on: April 02, 2020, 04:36:02 PM »
are you serious? can you point to a source?
tnx
It was posted on https://www.labor.ny.gov/home/ last week, that they waived the waiting period. I don't see that now but it does say
Quote
Any claim you file will be backdated to the date you became unemployed. If you are eligible, you will be paid for all benefits due.
Workflowy. You won't know what you're missing until you try it.

Offline etech0

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Re: Coronavirus Stimulus Aid Package
« Reply #276 on: April 02, 2020, 04:37:49 PM »
Also if you click this link on that page:
Frequently Asked Questions about Unemployment Insurance During the Coronavirus Emergency.
https://www.labor.ny.gov/ui/pdfs/ui-covid-faq.pdf

Here is one of the Q&A:
Quote
QUESTION: Do I have to wait a week after I became unemployed before I can receive PUA
benefits?
ANSWER: No, there is no weeklong wait period for PUA.
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Offline JMHO

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Re: Coronavirus Stimulus Aid Package
« Reply #277 on: April 02, 2020, 04:39:47 PM »
Waived in NY at this point
Are you sure? Or are you referring to PUA?

Offline cgr

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Re: Coronavirus Stimulus Aid Package
« Reply #278 on: April 02, 2020, 04:40:40 PM »
It was posted on https://www.labor.ny.gov/home/ last week, that they waived the waiting period. I don't see that now but it does say
I think you're confusing the waiting week with minimal employment requirements.
The waiting week was waived by NY at the start of the crisis, and then instituted by the Fed as part of the CARES Act.

The minimum employment requirements still stand for State Unemployment Benefits, but everyone who doesn't qualify under the State because of that is eligible for Pandemic Unemployment Assistance, as part of the CARES Act. This is administered by the State as well, and in NY now has the same process as a regular unemployment claim. The amount you'll receive depends on several factors, but it'll always be augmented by $600/week from the Fed (no separate application or process needed. It's automatic).

Offline etech0

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Re: Coronavirus Stimulus Aid Package
« Reply #279 on: April 02, 2020, 04:43:34 PM »
The waiting week was waived by NY at the start of the crisis, and then instituted by the Fed as part of the CARES Act.
That's what I said, but now it's not posted on the website anymore
Workflowy. You won't know what you're missing until you try it.