Self-Employed — Small Business Majority Community https://community.smallbusinessmajority.org/ Thu, 29 Apr 2021 05:22:10 +0000 en Self-Employed — Small Business Majority Community Holiday Season Expectations https://community.smallbusinessmajority.org/discussion/154/holiday-season-expectations Thu, 12 Nov 2020 16:24:38 +0000 Community Digest and Discussion Kevin_SBM 154@/discussions With the holiday shopping season and Small Business Saturday around the corner, how are you gauging sales expectations this year? Are there challenges and market expectations you are hoping to see this year? Let us know in the comments below.

In case you missed it, Small Business Majority is working on a Small Business Holiday Gift Guide. If you would like to be featured in the holiday guide, follow the link here. The full guide will be posted next week on our website!

]]> PPP Forgiveness for S-Corp non-W-2 Owner-Employee Distributions https://community.smallbusinessmajority.org/discussion/123/ppp-forgiveness-for-s-corp-non-w-2-owner-employee-distributions Thu, 18 Jun 2020 19:15:59 +0000 COVID-19: Resources and Discussions for Small Businesses ellaprint 123@/discussions Just took an informative webinar in which Brian and David presented on small business relief opportunities and found that my company may indeed be eligible to get forgivable PPP assistance.

We are an S-Corp with no W-2's and only pay out periodic distributions to our two owner employees.

I had previously been told by a potential lender that without W-2 employees the business was not eligible to apply.
Based on the information in Brian and David's webinar, it appears that the situation may have changed.

What information do I need to verify our eligibility and successfully get through the application process?

Appreciate any insight that will help us navigate this process,
Audry

]]> PPP Forgiveness for S-Corp Owner Employee Distributions https://community.smallbusinessmajority.org/discussion/122/ppp-forgiveness-for-s-corp-owner-employee-distributions Thu, 18 Jun 2020 19:07:18 +0000 COVID-19: Resources and Discussions for Small Businesses ellaprint 122@/discussions Just took an informative webinar in which Brian and David presented on small business relief opportunities and found that my company may indeed be eligible to get forgivable PPP assistance. We are an S-Corp with no W-2's and only pay out periodic distributions to our two owner employees. I had previously been told by a potential lender that without W-2 employees the business was not eligible to apply. Based on the information in Brian and David's webinar, it appears that the situation may have changed.
What information do I need to verify our eligibility and successfully get through the application process?

]]> PPP & PUA https://community.smallbusinessmajority.org/discussion/104/ppp-pua Wed, 06 May 2020 17:03:47 +0000 COVID-19: Resources and Discussions for Small Businesses jv28 104@/discussions Like many small businesses, I applied to various COVID-related government benefits that I am eligible for. In the last two days I learned that California EDD approved my Pandemic Unemployment Assistance (PUA) claim AND my bank approved my PPP application. Is my company allowed to accept both of these? I read that it is ok to accept PUA until the 8 weeks of PPP payroll kick in - is that true? Not trying to "double dip" from these benefits if I am not supposed to but do want to accept assistance that I can.

]]> Sole Proprietor: Unemployment or PPP? https://community.smallbusinessmajority.org/discussion/82/sole-proprietor-unemployment-or-ppp Mon, 06 Apr 2020 19:12:18 +0000 COVID-19: Resources and Discussions for Small Businesses Liberation 82@/discussions I'm a sole proprietor and have no employees or subcontractors. My most recent contract with a client terminated on Feb. 19. I have been looking for new clients, but it's very unlikely I'll find anything. I registered for unemployment on 3/19/20, declaring I was applying due to Coronavirus, and on 3/30/20 I received a response email from the EDD that I don't qualify for any benefits because I'm self-employed, but they still provided me with the obligation to report my work search. Then on 3/31/20 the CARES act came out. Now it seems like I may qualify for PPP, but I've been told during the webinar that I would not be able to register for both. So, first, which one would offer me better benefits? And, second, if PPP offers better benefits, what steps do I take to close my registration as unemployed and then register for PPP? I don't want to start my PPP application late, but also don't want to weave a tangled administrative mess that could delay provision of benefits.

]]>