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MONDAY MORNING UPDATE #2
Financial Assistance Available for
Self-Employed Individuals
To Our Valued Clients:
New information is becoming available multiple times per day and we are committed to getting it to you as quickly as possible.
Unemployment Benefits:
The CARES Act expanded unemployment programs to individuals that were not covered by traditional unemployment benefits. This includes business owners, self employed individuals, independent contractors, gig workers and those with limited work history of wages earned.
To apply for the Pandemic Unemployment Insurance, you will need to apply online CLICK HERE
The individual must certify that he or she is otherwise and able and available for work, except that the individual is unemployed, partially unemployed or unable or unavailable to work due to one of the following reasons:
- He or she is diagnosed with COVID-19;
- He or she has symptoms of COVID-19 and is in the process of seeking a medical diagnosis;
- A household member has COVID-19;
- He or she is providing care to a household member with COVID-19;
- A child or other person in the household for which the individual is the primary caregiver is unable to attend school or daycare due to COVID-19;
- The individual is unable to reach work due to a quarantine;
- The individual is unable to attend work because a healthcare professional advised him or her to self-quarantine;
- The individual is scheduled to commence employment and does not have a job or is unable to reach the job as a direct result of COVID-19;
- The individual is the sole wage earner in his or her household due to death of the head of household as a result of COVID-19;
- The individual was required to quit his or her job as a result of COVID-19;
- The individual's place of employment closed due to COVID-19; and
- The individual is self-employed, is seeking part-time employment, does not have sufficient work history, or otherwise would not qualify for unemployment benefits under another state unemployment program.
Individuals who are able to telework with pay or who are receiving receiving sick leave or other paid leave benefits are not eligible.
Unemployment coverage is extended for a total of up to 39 weeks.
All unemployed workers will be entitled to an additional $600 per week for up to a total of four months related to COVID-19.
Paid Sick Leave of Absence for Self-Employed:
Under the Families First Coronavirus Act (Section 7002), there will be a credit available for Sick Leave for Certain Self-Employed Individuals.
This section provides a refundable tax credit equal to 100 percent of a qualified sick leave equivalent amount for eligible self-employed individuals who must either: A) Self-isolate or B)
obtain a diagnosis, or comply with a self-isolation recommendation with respect to coronavirus.
The credit is allowed against income taxes and is refundable. the qualified sick leave equivalent amount is capped at the lesser of $511 per day or the average daily self-employment income for the taxable year per day.
For eligible self-employed individuals caring for a family member or for a child whose school or place of care has been closed due to coronavirus, the qualified sick leave equivalent amount is capped at the lesser of $200 per day or the average daily self-employment income for the taxable year per day.
In calculating the qualified sick leave equivalent amount, an eligible self-employed individual may only take into account those days that the individual is unable to work for reasons that would entitle the individual to receive paid leave pursuant to the Emergency Paid Sick Leave Act.
A self-employed individual must maintain documentation prescribed by the Secretary of the Treasury to establish his or her eligibility for the credit.
Please note, the paid sick leave for self-employed individuals will be a credit on the 2020 personal tax return.
It has been brought to our attention that FL unemployment website is running slow due to the large volume of applications being processed.
We will continue to become educated on all of the assistance available and will send additional updates on an ongoing basis.
Please feel free to contact us with any questions and thank you for your continued support as we navigate all of this new information.
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