We'll discuss what's in the stimulus bill and how you should be utilizing the benefits. President Donald Trump has signed legislation that Congress approved this week that will allocate a massive amount in funding to support the U.S. economy, workers, and small businesses. The hallmark of the $2 trillion stimulus package were one-time $1,200 direct payments to adults making up to $75,000. But the legislation also included a number of proposals aimed at supporting small businesses that have been hard hit as the crisis has forced businesses to shutter in accordance with social-distancing orders from state and local officials across the country.
A $350 billion forgivable loan program designed to ensure that small businesses do not lay off employees
A 50% refundable payroll tax credit on worker wages will further incentivize businesses, including ones with fewer than 500 employees, to retain workers
Looser net operating loss-reduction rules that will allow businesses to offset more
A delay in employer-side payroll taxes for Social Security until 2021 and 2022
Sole proprietors and other self-employed workers could be eligible for the expanded unemployment-insurance benefits the bill provides
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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