Coronavirus/CARES ACT assistance programs for Self-employed and Independent Contractors (Sole Proprietors)
Under the CARES ACT signed into law by President Trump March 27, 2020, there are several financial assistances programs for small business and sole proprietors in the form of tax credits, loans and grants. Listed below are two of the loans that convert into grants if used for their intended purposes. 1. What is available? a. Economic Injury & Disaster Loan (EIDL) b. Paycheck Protection Plan (PPP) 2. Who can apply? a. Both Self-employed and independent contractors are eligible with less than 500 employees (sole proprietors) 3. What are the eligibility requirements (any of the items below)? a. Do you pay [...]