Is a Second Round of Stimulus Checks for $2,000 Each Month in Our Future?

[Derranged]

Damn. Did you file your taxes this year ?

Not yet. I was too busy in February and March and when I heard about the extension, I let it go. That screwed me because it disqualified me for a PPP small business loan. Not that I would've been entitled to much money anyway. Oh well....

[BostonGuy]

I'm still waiting for my $1200 check and to get approved for the self employed pandemic unemployment.

https://www.irs.gov/

> get my payment

[Derranged]

https://www.irs.gov/

> get my payment

Thanks, BallpahkFranksGuy

[man down]

Lol I know a boat dealer and he is selling boats so fast he can't order them fast enough.
I went to buy a new Corvette and there's still a waiting list.

Small business are getting loans and the ones that have stayed open and had to pay employees anyway are getting fat checks. They don't have to pay it back because they're paying employees with it. They're taking the money they would have paid them with and buying shiet.

Then my wife's employees that were making 250 to 300 a week part time are now making 1k per week until the end of July unless they let the wife open the store.

Then a family of four got 3400.00 for the stimulas.

People are doing better now than before. But we need more? Lol

[BostonGuy]

Lol I know a boat dealer and he is selling boats so fast he can't order them fast enough.
I went to buy a new Corvette and there's still a waiting list.

Small business are getting loans and the ones that have stayed open and had to pay employees anyway are getting fat checks. They don't have to pay it back because they're paying employees with it. They're taking the money they would have paid them with and buying shiet.

Then my wife's employees that were making 250 to 300 a week part time are now making 1k per week until the end of July unless they let the wife open the store.

Then a family of four got 3400.00 for the stimulas.

People are doing better now than before. But we need more? Lol

If companies misappropriate the loan funds they will be forced to pay the money back. If a company is spending frivolously on nonessential expenditures then the loan signors can be held personally liable.

[man down]

If companies misappropriate the loan funds they will be forced to pay the money back. If a company is spending frivolously on nonessential expenditures then the loan signors can be held personally liable.

C'mon guy, you know how this all works.

I went fishing with a friend three days ago that got two checks. He runs a tax service. He knows all the ins and outs. As long as you pay 75% of the loan to your employees you don't have to pay it back.
If you are open for business and making money you just set that money to the side then use the loan money to pay employees.

This is happening all over. They rushed this bill. They should have made it so you had to show a loss of income more than 50% but they didn't.

I read a link the other day saying people have more in saving now than a few months ago.

This 1k unemployment per person is adding up. Think about a husband and wife that bring home 600.00 a week each. Now they're bring home 1k a week each and aren't spending money on shiet like going out to eat.

But everyone can't lay their rent lol.

[GhostofDempsey]

Think about who is really pushing for $2K per month all the way to election day. Who benefits the most by keeping people out of work by giving them free checks in the mail? Great way to ensure unemployment keeps rising and the economy crashes completely. Who is paying for all of this? The every shrinking middle class who are losing their jobs.

[BostonGuy]

C'mon guy, you know how this all works.

I went fishing with a friend three days ago that got two checks. He runs a tax service. He knows all the ins and outs. As long as you pay 75% of the loan to your employees you don't have to pay it back.
If you are open for business and making money you just set that money to the side then use the loan money to pay employees.

This is happening all over. They rushed this bill. They should have made it so you had to show a loss of income more than 50% but they didn't.

I read a link the other day saying people have more in saving now than a few months ago.

This 1k unemployment per person is adding up. Think about a husband and wife that bring home 600.00 a week each. Now they're bring home 1k a week each and aren't spending money on shiet like going out to eat.

But everyone can't lay their rent lol.

I did webinar the other day on this topic and they covered this exact issue.
Yeah, you can set aside the money and use it for payroll, rent, etc. but if you are spending money out of your business checking on nonessential business expenses then, that demonstrates that the company didn't really need the money in the first place and they may or may not have to pay it back.

It was a big money grab for a lot of businesses and, as you said, rushed without thinking about the ramifications. I think the government had to act swiftly though as a lot of small businesses do need this lifeline.

[man down]

I did webinar the other day on this topic and they covered this exact issue.
Yeah, you can set aside the money and use it for payroll, rent, etc. but if you are spending money out of your business checking on nonessential business expenses then, that demonstrates that the company didn't really need the money in the first place and they may or may not have to pay it back.

It was a big money grab for a lot of businesses and, as you said, rushed without thinking about the ramifications. I think the government had to act swiftly though as a lot of small businesses do need this lifeline.

I agree lots do. But there's a lot that didn't. My old partner got 68k and our old accountant made sure he won't have to pay it back.

Extending unemployment and another stimulas will just make people not want to go back to work.
There's so many people out and about all over it's unreal.

They can go out and play but hell no, we can't go to work! Lol

[////]

Transparent political stunt.

Dems opposed & stalled the initial stimulus, now they're pretending to fight for "2000 per month" weeks from the lockdown being lifted. ZZZZzzzzz