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⚠️⚠️Breakdown of Video:⚠️⚠️
1. 0:46 $600 per week with Unemployment for Everyone Including those Self-Employed, 1099 earners, Independent Contractors and otherwise self-employed people like: LLC owners, s-corporation owners, Uber Driver, Lyft Driver, Amazon Flex, Realtors, agents, freelancers, writers, barbers, dancers, restaurant waiters, handyman, construction workers, etc.
The stimulus bill approves $600 per week for up to 13 weeks available through your State’s Unemployment Website. This money is for self employed AND regularly employed people and is in addition to your state unemployment benefits, as long as your income has been affected by this event. State unemployment benefits have been extended to 39 weeks.
2. 8:27 $10,000 EDIL Grant with the SBA.
How to Apply Walkthrough: https://youtu.be/6f7AtMyDoJc
The stimulus bill approved a $10,000 grant for self-employed people (with or without employees) as completely free money. You must self-certify that your income has been affected. LLC, S-corporation, and landlords members may try to apply multiple times, though its possible your social security number will limit your ability to receive multiple grants.
3. 13:49 $10 Million Free for Small Businesses: Paycheck Protection Program.
The stimulus bill approved up to $10,000,000 in free money for small businesses with fewer than 500 employees to cover payroll expenses and costs of keeping a business up and running including wages, salaries, tips, premiums, debts, equipment costs, and more. Apply through the SBA *or* a local credit union or bank. This is a forgivable loan that congress states “shall” be forgiven IF you follow the terms of the loan.
It does appear that you can apply for both the EDIL grant AND PPP, however you’ll want to review program terms once you’re offered a loan.
4. 18:07 Free Business Help through Grants to Business Development Programs.
This is like Undercover Billionaire - if you're starting a business, your local development programs are basically free money.
5. 19:20 $0 Mortgage. Here's how to get mortgage forbearance AND what to negotiate. Additional details for landlords and terms.
5.5 24:32 $0 Rent. Here's how to lower your rent.
6. 25:57 New Deductions & Savings through Health Savings Account (HSA). https://metkevin.com/Lively
7. 29:00 New Terms for 401k (why the 401k Crushes the Roth IRA). The 401k terms are an absolutely amazing way to access emergency funding penalty and tax free for 3 years with extended payback terms.
8. 31:34 Donation Bonus. If you currently take the standard deduction a new donation loophole has opened, make sure you let your CPA know about your donation.
9. 33:24 Student Loan - big benefits to student loans as well as a MASSIVE loophole for over $5,000 in TAX FREE money from your boss - this is huge!
10. 35:42 Stimulus Checks - Most of us already know about the stimulus checks. Incase you don't, make sure you get your money as fast as possible by watching this:
Get Stimulus Check as Fast as Possible: https://youtu.be/BteIDjBmc_E
11. 36:29 Paid Leave. Family First Response Act. Another way to get free money.
12. 37:54 Qualified Investment Purchases (QIP) - Write offs for Rich.
❎I am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Kevin MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Kevin's videos. If you need ANY professional advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. financial advisor or the appropriate professional for the subject you would like help with. Linked items may create a financial benefit for Meet Kevin®. The Paffrath Organization is a licensed real estate brokerage doing business as Meet Kevin® in California under DRE #02032575.
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