Apr 08 2020 36 mins 4
This episode is for my US-based solo cleaners only. President Trump signed the CARES Act into law on Friday, March 27th. In this 900 page, $2 trillion bill, congress has earmarked $350 billion in personal stimulus to American families and $350 billion to the Small Business Administration (SBA) to disperse to small businesses across the fruited plain. The personal stimulus is automatic and requires no action. If the Treasury already has your bank's direct deposit on file, you'll receive your money in April 2020. Otherwise, it may take a few months. If you're like me, you just assumed you didn't qualify for any of the other $350 billion. Well, you're wrong. This episode covers the 4 main portions of the CARES Act that the self-employed can take advantage of. Some of the money is first-come, first-serve, so get applying! Before I begin, let's give credit to my source. Denai Wolfe of The Chic CFO has been helping so many people figure this law out since our president signed it. Denai does daily FB Lives in her Profit Factor group and I've had the honor of two expert calls on Zoom with her on the SMART Cleaning Tribe membership that I run and the Total Life Freedom Community that my friend Vincent runs. This episode is a culmination of my knowledge and applying to us... the Solo Cleaning Owners! Make sure to check out this FREE RESOURCE from Denai as well! There are 4 parts of this law that pertains to us, the self-employed solo cleaners. The EIDL is a given. Go apply ASAP!!! You could get up to $10,000. The FMLA, UC, and PPP are the others and you would have to select one! In this episode, I describe how to calculate your average monthly payroll and go through examples of each of these options. I also give an example of a sole proprietor solo cleaner earning $2,000 per month in payroll and how to decide which option to take. I'll share basics here, so make sure to listen to the full episode for more details. Read the rest of this article at the Solo Cleaning School website
