Self-Employed During the Pandemic? Lawmakers Did Not Forget You

Usually, in times of economic dislocation such as the COVID-19 pandemic, the self-employed get no special government help. For example, you generally do not receive benefits that employees get, such as unemployment and paid sick leave.

But this time it’s different. Because of the COVID-19 pandemic, you can qualify for the following seven benefits:

PPP Extended—Act Fast or Miss Out

This is likely it—your last chance to obtain first- and second-draw Paycheck Protection Program (PPP) monies.

A new law, the PPP Extension Act of 2021, extends the expiration date to the later of May 31 or when the money runs out. Note the phrase “when the money runs out,” and be forewarned that this can happen within weeks. So don’t procrastinate—not even for one day.

New Forgiveness Rules for Past, Current, and New PPP Money

Good news: the new Paycheck Protection Program (PPP) law enacted with the stimulus package adds dollars to your pocket if you have or had PPP money.

Note that the PPP money comes to you in what appears to be a loan. We say “appears” because you typically pay back a loan.

We all have certain financial goals that should be achieved in 1, 5 or 10 years. However, this will require hard work and sacrificing take home pay. You may find a second source of income to reach your financial goals quicker. If you want to make some good money online, you need to have commitment and be open to new income opportunities.