03-26-2020 09:43 PM
I tried to look up whether we can get a stipend from the stimulus package. What I read seemed to be saying we need to file for unemployment. Is there something else we should be doing, do you know? Do we have to reach the point of no sales to be eligible?
03-28-2020 05:26 AM - edited 03-28-2020 05:28 AM
Self employed people can't file for Unemployment benefits.
Self-employed people most certainly can file for unemployment benefits in most states, even during the good times, depending on how their business is structured. If folks have their Ebay business set up as an S corp and pay themselves a salary out of their earnings, which I do, then in most states you could get unemployment. Here is a link with a table of states (article was from before stimulus and does not include stimulus info):
www.nerdwallet.com/blog/small-business/unemployment-benefits-selfemployed/
Folks - please, please, please do your own research. So much misinformation is disseminated on this forum.
03-28-2020 05:51 AM
Again, this is wrong. It is "free" money. All those who get a stimulus check will be required, on their 2020 return, to claim it. They are doing it this way so that those who do not qualify for the stimulus based on their 18 and/or 19 returns, but are adversely affected in 2020 can still claim the credit when filing this year's returns. Instead of getting their stimulus check now, they would get it in a year or so.
To be clear, this is money that you would NOT have received unless of the pandemic. Also important to note, that if you happen to win the lottery and have high income this year, you still will NOT be required to pay back.
Educate yourselves folks, it's all out there.
03-28-2020 07:45 AM
You stated this:
"The reason for her to get it is because she was paying into the unemployment system and deserves it"
This is totally incorrect. The employer pays taxes into the unemployment insurance fund. Workers do not. Worked 41 consecutive years after college and 7 years of part time/summer work prior to graduation, never had even a "Yankee Dime" deducted out of my pay check for unemployment taxes.
03-28-2020 07:49 AM
(Again, this is wrong. It is "free" money.)
I wouldn't exactly call it free. It's just going to be added here.
U.S. National Debt Clock : Real Time
03-28-2020 07:52 AM - edited 03-28-2020 07:54 AM
@cynthealee2 wrote:If she files a claim and keeps it up as long as I think she's going to be out of work the system will pay her way way more money that she has paid into it.
That is why it is called "unemployment insurance" and not an "unemployment savings account".
Some collect more than they pay in. Others pay in more than they collect.
03-28-2020 07:58 AM
03-28-2020 08:24 AM - edited 03-28-2020 08:25 AM
Either way... I told her if SHE wants it, she'll have to figure it out. She'll have to google how to do it, have to fill in all the forms and have to keep up with it.
Morally there is no way I am helping her do it, but it's her Karma and I've laid out all the pro's and cons for it.
Now don't get me wrong... if she was 25, on her own, married, or had a kid I'd be all over trying to help her figure this stuff out...
Btw if people are serious about needing jobs Wal-mart and the rest (grocery stores and such) are dying for stockers / order packers / delivery drivers right now. And they are hiring as fast as they can.
So are the companies that do home care work for the elderly and the disabled which would free up nurses and the like for the hospitals. They need people to come in and clean house, make food, for lack of a better term 'babysit', potty breaks and or keep em company and they provide the masks, gloves and the like at least the one my oldest child works for does. They were desperate BEFORE the virus hit, I signed up (for my brother) a local job hunting site and they had ads every day 3 and 4 times a day for this late Feb early March and it's only gotten worse. They pay better than the restaurants and the other non essential places that have closed during the crisis.
03-28-2020 09:45 AM
My kid graduated college in December and started his job in January. Good to know he will get a tax credit because he won’t qualify for a check.
BTW this threshold of $75k means a totally different thing if you live in LA or NYC vs living in GA.
03-28-2020 10:11 AM
@the*dog*ate*my*tablecloth wrote:My kid graduated college in December and started his job in January. Good to know he will get a tax credit because he won’t qualify for a check.
BTW this threshold of $75k means a totally different thing if you live in LA or NYC vs living in GA.
Agreed... 75K here means they are rich and "living high on the hog" 😉
03-28-2020 10:32 AM - edited 03-28-2020 10:36 AM
The stimulus bill, does indeed, include something for the self-employed. It's called "Pandemic Unemployment Insurance." It covers, gig works, contract workers, freelancers and the self-employed. Details aren't there yet for exact qualifications, but I believe that if you have been self-employed, made enough income to qualify under your individual states' income guidelines, and filed taxes for 2019, you could be eligible.
While it's true that you can technically still sell online if you can't go out and source for items to sell because your state is in lockdown, that means the pandemic has affected your income. My state is on lockdown and the thrift stores in my area closed almost two weeks ago. I haven't had anything to add to my store here and sales are petering out. My closet over at PM has completely died. No sales at all.
Think about it this way. While some businesses can remain open during the lockdown, their sales may not be sufficient to keep them going and they'll decide to close down rather than pay rent, utilities, etc. In our case, those costs are eBay fees. I also believe there may be some provision in the stimulus for people whose income is greatly reduced but not wiped out altogether. Don't quote me on that, though, I only read that in one article and I don't remember which article it was, so consider it a rumor rather than something substantial.
03-28-2020 10:57 AM
Sorry, I got the name of the program slightly wrong. It's "Pandemic Unemployment Assistance."
Here's an article that mentions it:
Q: I'm self-employed and didn't previously qualify for unemployment. Am I eligible now?
Yes. This bill creates a new program, called Pandemic Unemployment Assistance, that extends benefits to gig workers, contractors and others who wouldn't otherwise qualify for unemployment compensation but cannot work due to the coronavirus emergency. You'll get the $600 per week, plus half the average unemployment benefit in your state.
03-28-2020 04:23 PM
@the*dog*ate*my*tablecloth wrote:BTW this threshold of $75k means a totally different thing if you live in LA or NYC vs living in GA.
Someone making $75K for last few years should have enough saved up for a 6 month emergency fund if they live within their means.
03-28-2020 04:33 PM
@atikovi wrote:
@the*dog*ate*my*tablecloth wrote:BTW this threshold of $75k means a totally different thing if you live in LA or NYC vs living in GA.
Someone making $75K for last few years should have enough saved up for a 6 month emergency fund if they live within their means.
Well that is really going to depend on where they live, how many kids they have, etc. While it is a nice salary for many places, it isn't for others. So the details are important and has a bearing on how much if any someone is able to save.
03-28-2020 08:12 PM - edited 03-28-2020 08:13 PM
@mam98031 wrote:
@atikovi wrote:
@the*dog*ate*my*tablecloth wrote:BTW this threshold of $75k means a totally different thing if you live in LA or NYC vs living in GA.
Someone making $75K for last few years should have enough saved up for a 6 month emergency fund if they live within their means.
Well that is really going to depend on where they live, how many kids they have, etc. While it is a nice salary for many places, it isn't for others. So the details are important and has a bearing on how much if any someone is able to save.
Well, for once, I have to agree with you, hehe! You can get a 5 BR 3 Baths Home (with 350 days of sunshine) here in NM with mountain view (or even with an in-ground pool, if you are lucky) at or below 280,000 whereas a friend of ours just said, a garage in the neighborhood he is looking to buy would easily cost 200,000 - 250,000 in Cali - without the house or the lot on which it is built. So, yes, California, but also some other places in the country, is definitely far more expensive than the average areas. I assume renting is the same way, in such posh neighborhoods, must be very expensive. And commuting takes a lot of gasoline.
PW🐿
03-29-2020 06:21 AM
$117K per year is classified as "low income" in the Bay Area. You would not even be able to come close to living on $75K.