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Unemployment insurance eligibility

  • 1.  Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-26-2020 19:05
    My reading of the $2 trillion stimulus package is that self employed people (most of us) are going to be newly eligible for unemployment insurance. I am hoping that the Home Office and our members who are good at accounting matters (I'm looking at you Mr. Barnes) will give the rest of us some guidance on how to proceed. Anyone out there have an informed opinion?

    ------------------------------
    Karl Roeder
    Pompano Beach FL
    ------------------------------


  • 2.  RE: Unemployment insurance eligibility

    Posted 03-26-2020 20:04

    Hey Karl (and any other PTG Members who might find this beneficial). It's Shawn from the PTG Home Office

    Please note that the benefits in question have passed the Senate but not yet the House (which should hopefully happen on Friday) and also require the President's signature. That's expected to happen

    What you're referring to is the Pandemic Unemployment Assistance program, which would provide jobless benefits to those who are unemployed, partially unemployed or unable to work because of the virus and don't qualify for traditional benefits. This includes independent contractors and the self-employed, who typically aren't eligible to file for unemployment, and so-called gig workers, who aren't eligible in many states. These benefits would mirror what's available in an individuals state (plus it looks like their might be some additional benefits provided by the state

    It's important to note that (at least at this point), the program is designed to be administered through each states individual system. That means the application process will be conducted through whatever state you currently live in. At this point it's hard to predict how each state is going to handle applications and eligibility within the guidelines that the Federal legislation might set up.

    We're doing our best to keep up and keep members informed. I'm also going to encourage everyone to follow developments within their individual states to see how this Pandemic Unemployment Assistance program will be implemented.

    In the meantime, you can learn more (and see links to all the states agencies) here https://www.dol.gov/general/topic/unemployment-insurance 



    ------------------------------
    Shawn Bruce
    Marketing Manager
    Piano Technicians Guild
    Kansas City KS
    913-432-9975
    ------------------------------



  • 3.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-26-2020 20:14
    ​Thanks, Shawn

    Michael

    ------------------------------
    Michael Gutowski, RPT, TEC
    Central East RVP
    Chicago Chapter
    chicagotuner@aol.com
    847-759-0369
    ------------------------------



  • 4.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-26-2020 21:11
    Thank you Mr. Bruce. That's very helpful.

    ------------------------------
    Karl Roeder
    Pompano Beach FL
    ------------------------------



  • 5.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-26-2020 23:54
    As most of you know, my son, Chris, is a CPA, and is the president of a small (35 member) accounting firm in Colorado Spring.  I just got off the phone with him about the new bailout. He has spent the last two days reading everything he could about this bill, and how it impacts small businesses and self employed people like us. Here is what he was able to find out.

    First of all, most of what we pay every year in taxes is not income tax, but social security, or self employment tax. So the actual impact on our social security tax is not going to be very much. We still have to pay that. But here is how this bill will help us.

    For self employed tuners there are two benefits.

    First, our 2019 taxes are not due until July 15, instead of April 15.
    Second our estimated taxes that we have to pay will be put on hold for at least one quarter, if not the entire year. In an sense we're getting "reimbursed" for our estimated taxes by not having to pay them until later. Because most of us will have less income this year, our tax bill will be less than last year, and that is the "benefit" we will get. We won't get an actual check, but we won't have to pay as much upfront.  (This does not have anything to do with the "hand out" from the government that we should all get, no matter what.)

    For those of you who have employees, and have had to lay them off, you can get money from the government to hire them back. There is a process and paper work that needs to be filled out, but the way Chris put it, it's better to give employers money to hire their workers back, than to give those workers unemployment checks. That is how the Federal government is helping small businesses.

    Anyway, hope this helps. As always, please consult with your own accountant to get the latest details.

    ------------------------------
    Willem "Wim" Blees, RPT
    Mililani, HI 96789
    ------------------------------



  • 6.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-27-2020 00:05
    ​Wim,

    April 15th is when the first quarter installment is due and it's been deferred to July 15th.
    What about the second quarter which is due June 15th? Is that also due July 15th? Or is it later?
    If it's due 7/15, that won't help much if one isn't working.

    Michael

    ------------------------------
    Michael Gutowski, RPT, TEC
    Central East RVP
    Chicago Chapter
    chicagotuner@aol.com
    847-759-0369
    ------------------------------



  • 7.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-27-2020 00:09
    Chris wasn't sure about that, yet.  Details are sill being worked out, but he is pretty confident that no one will have to pay any estimated taxes until the end of the year. He didn't say if that means in December, or on January 15.

    Remember, the House has not yet voted on this, but it's expected to do so of Friday.

    ------------------------------
    Willem "Wim" Blees, RPT
    Mililani, HI 96789
    ------------------------------



  • 8.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-27-2020 08:13
    If one isn't working, will not his estimated quarterly payments be much less? As in, what I will do is send in *something*, but it'll be very small because I don't anticipate earning much for some of these quarters. Or am I thinking incorrectly here?

    ------------------------------
    John Formsma, RPT
    New Albany MS
    ------------------------------



  • 9.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-27-2020 08:20
    Hi John:
    You can calculate how much your estimated payments should be, based upon your actual income. Just be aware that you'll have to send in much more when boom times resume. I think most of us have much more work during the holiday season
    so you'll need to send in more for that quarter. I'm not sure if this has to be done on a consistent basis, either way. Much like using a mileage deduction or actual expenses when calculating auto expenses. At the end of the year, there is a penalty for not sending in enough estimated tax. Don't ask..
    Paul McCloud
    San Diego



    John Formsma
    If one isn't working, will not his estimated quarterly payments be much less? As in, what I will do is send in *something*, but it'll be very small because I don't anticipate earning much for some of these quarters. Or am I thinking incorrectly here?

    ------------------------------
    John Formsma, RPT
    New Albany MS





  • 10.  RE: Unemployment insurance eligibility

    Member
    Posted 03-27-2020 09:54
    Our quarterlies are supposed to equal last years owed taxes. Theoretically using your posting we could end up with penalties because we didn't pay enough. Make sense?

    ------------------------------
    [Ronald] [Moore]
    [Ft. Wayne] [IN]
    [260-241-1772]
    Moorepiano.com
    ------------------------------



  • 11.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-27-2020 10:25
    Yes, that's what we do. But I thought we make estimated payments based on last year's amount...i.e, an estimate. Then, once the return is filed, it is known whether the estimates were correct, or whether there are any penalties due. It would seem that a penalty is due only when an estimated payment wasn't made, or if it was way off in its amount. (This is why I use an accountant, because I just don't want to think about all the different minutiae of tax law.)

    ------------------------------
    John Formsma, RPT
    New Albany MS
    ------------------------------



  • 12.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-28-2020 14:00

    As I understand it, you use last year's income as a guide, but you pay quarterly estimated tax based on your present income.  That's what I've always done.  I have never gotten fined for any discrepancy.  Here is a bit from the IRS website:

     

    To figure your estimated tax, you must figure your expected adjusted gross income, taxable income, taxes, deductions, and credits for the year.

    When figuring your estimated tax for the current year, it may be helpful to use your income, deductions, and credits for the prior year as a starting point. 

    https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes

     

    The key word is "expected."  It makes no sense at all to send quarterly payments based on last year's income.  If there's a tax expert out there who knows otherwise I'd like to hear it, or someone who has gotten explicit direction on this straight from their accountant.






  • 13.  RE: Unemployment insurance eligibility

    Member
    Posted 03-28-2020 17:06
    Loren, you may have to pay a penalty if you underestimate by too much.  Unless...you pay, in quarterlies, the total amount you owed in the prior year.

    --
    5 Tarr's Lane WEST
    Rockport, MA  01966
    978-546-8428





  • 14.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-27-2020 13:00
    Estimated taxes are based on last year's income/taxes paid. If you paid a total of $20,000 in taxes last year, then this year's estimated taxes are $5000 per quarter. If you were making the same as last year, that wouldn't be a problem. But if you're making half of what you did last year, that would an extreme hardship.

    ------------------------------
    Willem "Wim" Blees, RPT
    Mililani, HI 96789
    ------------------------------



  • 15.  RE: Unemployment insurance eligibility

    Member
    Posted 03-27-2020 19:25
    If you're only making half of what you made last year , your estimated taxes this year would also be half of what they were last year.

    ------------------------------
    Bruce Trummel
    Piano Tuner
    Marysville CA
    916-989-9000
    ------------------------------



  • 16.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-27-2020 19:31
    Bruce

    You are allowed to make adjustments to your estimated taxes, but you have to fill out paper work. And if you get it wrong, and still don't pay enough, you get penalized.

    What the government is doing this year is allowing you to delay making any estimated taxes until the end of the year without penalty.

    ------------------------------
    Willem "Wim" Blees, RPT
    Mililani, HI 96789
    ------------------------------



  • 17.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-27-2020 19:40
    I emailed my accountant this:
    "What is the REQUIREMENT when we pay quarterly estimated taxes? My income will be down a lot because of C0VID-19, so I was thinking to pay less quarterly tax payments this year.

    Some of my piano tech friends think we HAVE to pay based on last year's earnings. I was thinking that we estimate them based on the current year projected earnings.

    Would there be any penalties as long as payments were made in approximately the right amounts?

    (I understand they'll probably ease a lot of requirements, but I was wondering what's the thing to do based on current tax law.)"

    The response:
    "You are right. There are only penalties if you don't pay in enough to cover your taxes. Yes; I think they will be especially lenient. And you know that the first payment is now due July 15."

    ------------------------------
    John Formsma, RPT
    New Albany MS
    ------------------------------



  • 18.  RE: Unemployment insurance eligibility

    Member
    Posted 03-27-2020 22:50
    I think that as long as you have at least 75% of your tax liability paid by the end of the year, there will be no penalty. I don't know if the IRS nit picks about quarterly estimate based on last year's tax liability.
    I figure my quarterly taxes from a Quarterly Report generated by Quicken. I reserve 30% from each deposit and send that in. It's more than my tax liability at the end of the year. I carry over the overage and do not take a refund and it usually covers the next quarter's amount due. This quarter is only 12% lower than last year, so there will be some carry over to the 2nd qtr.
    The only tunings I have scheduled are two performances in mid May and the performances for next season's Cape Cod Symphony concerts in the fall and winter/spring 2021. Maybe after next week, people will be calling for tunings. Before the stay-order, I had tuning requests and I was waiting for others in the area.  They had said they let it go too long and it really needed it; I hope now they now realize that they need to keep it in top shape all the time. Hoard tunings :-)

    ------------------------------
    Regards,

    Jon Page
    mailto:jonpage@pianocapecod.com
    http://www.pianocapecod.com
    ------------------------------



  • 19.  RE: Unemployment insurance eligibility

    Member
    Posted 03-28-2020 09:15

    From the instructions for Form 1040ES:
    "General Rule
    In most cases, you must pay estimated tax for 2020 if both of the following apply.1.You expect to owe at least $1,000 in tax for 2020, after subtracting your withholding and refundable credits.2.You expect your withholding and refundable credits to be less than the smaller of:a.90% of the tax to be shown on your 2020 tax return, or b.100% of the tax shown on your 2019 tax return. Your 2019 tax return must cover all 12 months."

    In addition to avoid other penalties,
    those estimated "quarterly" payments must be paid on time or late penalties apply.
    No, they are not "nit-picky", but that's what Form 2210 is for.
    If you don't figure out the penalty, they will.
    It is always the last calculated line on the return & is included in the "Amount you owe" line above it.

    The stimulus bill did not address these payments, but the Treasury did & the IRS confirmed it.
    As of now, only taxes due on 4/15 are effected.
    Therefore, the 06/15 payment is now due BEFORE the extended 04/15(now 07/15) payment.
    These latter dates MAY be adjusted as needed.
    https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-deadline-and-federal-tax-payments-regardless-of-amount-owed





    ------------------------------
    John Gallen
    OWNER
    1040 Pianos
    S Windham CT
    860-428-6045
    ------------------------------



  • 20.  RE: Unemployment insurance eligibility

    Member
    Posted 03-28-2020 09:32
    It's been a while since I read the regulations.  Thanks for pointing it out.

    ------------------------------
    Regards,

    Jon Page
    mailto:jonpage@pianocapecod.com
    http://www.pianocapecod.com
    ------------------------------



  • 21.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-28-2020 15:16
    Hello, all. Joel here.
    This is an interesting topic and if we come at it from solely avoiding penalties, John Gallen's post is the best of all. Keep in mind, those General Rules quoted (indicating that both conditions must be met) apply to the question of whether or not a person has to pay estimated tax payments, not necessarily how much to pay.
    In normal times, my accountant has always told me that there are two ways to avoid a penalty for under-withholding:

    1. Send in during the current year what you paid for last year - in full and in installments
    2. During the current year, send in 90% of what you will eventually owe for the current year - in installments.

    It is my understanding that either of these will avoid penalties.

    Number 1 is a fixed amount
    Number 2 is a guess but you are safe from penalties if it is an educated guess and covers all that you eventually will owe in the current year.

    Since a techniician and/or rebuilder's income will fluctuate wildly, we have always used the first choice. Some years we wound up having to pay more taxes but have never been penalized.
    But these are not normal times, so further discussion is most welcome.  Keep in mind, any tax questions must be definitively answered by a qualified accountant (thanks to Wim for the information from a professional source).

    Hope everyone is well and stay safe!
    Joel Rappaport




    ​​​​​​


  • 22.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 03-29-2020 11:14
    It looks like this thread is now about taxes, rather than unemployment insurance eligibility.  I'm eager to know what assistance the new bill offers the newly unemployed, self-employed sole proprietor.  It is my understanding is that benefits will be administered by the states.  But since I've never qualified, I don't know how you even get in their system, and have not heard any particulars about what those benefits may be, or what it's based on. 
    Has anybody heard more particulars about this yet?

    Since the discussion is currently about taxes/income/quarterly payments, it does have bearing on financial decisions I'm making right now.  I'm taking the occasion of next-to-no income to employ a strategy endorsed by both my CPA and financial advisor, and that is to take this opportunity to move money from my IRA (taxed as it's withdrawn), over to my Roth (tax-free).  These transfers will count as income, but will cause no increase in my taxes, since income is now nil.  With the stock market so low, that money in the Roth will grow as the stock market gradually recovers, and my retirement will look better.

    But if I have a sudden, unanticipated influx of money from the Feds (which I'd be an idiot to turn down!), I could wind up with a nasty tax bill....

    Greetings to all,
    Linda Scott





  • 23.  RE: Unemployment insurance eligibility

    Member
    Posted 03-29-2020 14:02

    Good points, Linda.
    All of my retirement funds are in Roth vs traditional accounts.
    There are a couple other advantages to the Roth:
    there are no minimum withdrawal requirements starting at age 70 1/2;
    there are no tax consequences to the beneficiary(ies);
    there is no tax upon withdrawal after age 59 1/2;
    withdrawal after 59 1/2 is not subject to penalty or income tax;
    there is a "5 year rule" regardless of age, meaning funds from a Roth cannot be withdrawn within 5yrs of first funding a Roth;&
    amounts withdrawn do not count as income that could cause taxation of SS benefits received.

    Remember that the amount of conversion from a traditional is:
    unlimited(ie limited only by the amount existing in the traditional); &
    subject to federal(& state if applicable) income taxes; &
    must be completed by 12/31.
    You can spread these conversions over multiple tax years if needed.

    Any year that you expect to be in a low tax bracket(this year looks like a good candidate for many), consider the Roth.
    Remember that contributions to the Roth do not reduce your taxable income as does a traditional contribution.

    While I'm not a CPA, EA, CFP, or even an RPT,
    I've been preparing taxes professionally for over 27yrs.
    If you have any questions, please don't hesitate to email, call, text, FB message, etc.
    I'm not difficult to find, but you may have to leave a message.










    ------------------------------
    John Gallen
    OWNER
    1040 Pianos
    S Windham CT
    860-428-6045
    ------------------------------



  • 24.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 04-03-2020 14:21
    Resource guide for grants, loans, taxes, etc.
    Get the CARES Act Guide

    ------------------------------
    Steven Rosenthal
    Honolulu HI
    808-521-7129
    ------------------------------



  • 25.  RE: Unemployment insurance eligibility

    Member
    Posted 04-03-2020 20:08
    There have already been updates to some of this information as released in the SBA Guidelines on 04/03.

    --
    John Gallen,
    (860)428-6045 CELL
    Production Supervisor: Brooks, Ltd. Piano Parts, LLC
    Owner: 1040 Pianos(Tax Preparation)
    Owner:Vintage Piano Repair(Piano Moving)
    Treasurer: Master Piano Technicians
    Treasurer:Calvary Baptist Church of Preston, CT
    Treasurer:Guilford Smith Memorial Library, South Windham, CT
    Ambit Energy: Independent Consultant(www.gallonsofenergy.myambit.com)
    Institute Director, May 2019 Piano Technicians Guild's NEECSO Regional Seminar
    Convention Director, August 2019, Master Piano Technicians





  • 26.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 04-03-2020 21:36
    John

    You should get out of the house once in a while.

    ------------------------------
    Willem "Wim" Blees, RPT
    Mililani, HI 96789
    ------------------------------



  • 27.  RE: Unemployment insurance eligibility

    Member
    Posted 04-04-2020 08:24
    What I have read so far with what is available is that the self employed can not receive benefits. You can apply for a SBA loan at 5% interest. It may be forgiven if the majority of it goes to paying employee salaries. Unless you are incorporated, this rules out me and most everyone self employed.

    From the Mass. Dept of Unemployment website I read this:
    • The federal government has advised states against implementing specific programming options providing financial assistance to the self-employed and those not traditionally covered under the regular unemployment program until guidance has been issued. DUA is urging the federal government to provide guidance on Pandemic Unemployment Assistance as quickly as possible so that we can help the self-employed, those who have exhausted eligibility under regular unemployment, and others eligible for the new program get the resources they need during these difficult times. Unfortunately, until more specific guidance is issued, those who would not traditionally qualify for unemployment insurance remain ineligible for benefits through the UI Online application system. However, once guidance is given payments under Pandemic Unemployment Assistance will be retroactive to January 27, 2020.


    ------------------------------
    Regards,

    Jon Page
    mailto:jonpage@pianocapecod.com
    http://www.pianocapecod.com
    ------------------------------



  • 28.  RE: Unemployment insurance eligibility

    Member
    Posted 04-04-2020 17:17

    There is no 5% loan as part of the recent disaster relief.
    As far as MA goes, you will have to wait until they get into compliance with the federal guidelines.
    On CT, one of our members filled out the form as if he were the employer.
    This is entirely new to the states.
    The self-employed were never covered. The forms are not yet developed by employees that are now working at home in their pajamas yet.

    In the PPP, the salary of the self-employed IS their Net Profit from business on their schedule C if a Sole Proprietorship(includes single member LLCs).
    For partnerships, the amount is from their K1s reported on Schedule E.
    For C Corporations & those treated as S Corporations(these do exist in our group as single person entities), it is based on their W2.
    The eligible amount, basically, is the above annual amount divided by twelve x2.5.
    That is eligible PPP amount.
    Apply for the Paycheck Protection Program with an eligible lender:
    https://www.sba.gov/document/sba-form--paycheck-protection-program-borrower-application-form
    Some of the PPP MAY BE FORGIVEN if the criteria is met.
    If forgiven, there will be issuance of a 1099C, meaning it will not be treated as income.
    The non-forgiven portion of the PPP is paid back over 2yrs at 1%.

    The $10K Grant is an advance of the EIDL, which is a loan.
    you must apply for the loan to get the grant.
    You may get the grant but not the loan.
    If you get the grant, it is applied against the loan.
    The EIDL is a 30yr loan at 3.75%
    The application is here: https://covid19relief.sba.gov/#/
    You can apply to either or both.

    For example, if your W2, K1, or Net Profit were based on a $50K net profit,
    the PPP would be 10416.67.
    If you receive the grant(advance from the EIDL), this PPP forgiveness amount is reduced by the grant amount to $416.67.
    If based on $100K, the PPP would be $20833.33., reduced by $10K to 10833.33 if the EIDL advance were received.








    ------------------------------
    John Gallen
    OWNER
    1040 Pianos
    S Windham CT
    860-428-6045
    1040pianos@gmail.com
    ------------------------------



  • 29.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 04-04-2020 18:12
    Thank you John, for your very helpful reply to Jon, regarding the application for these "grant/loans" in Massachusetts.
    Best,

    ------------------------------
    Patrick Draine
    Billerica MA
    978-663-9690
    ------------------------------



  • 30.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 04-05-2020 08:17
    John,

    We are a sole proprietorship, but my wife is an employee of the business. (Her side of it is furniture restoration and sales, though it is a joint venture and all income goes into the same pot).

    NH does not require spousal employees to pay into the un-employment fund. I pay her a fixed amount each year. Both sides of our business (pianos and furniture) have gone largely flat (though I have some rebuilding work going on right now).

    Do you have any ideas how this arrangement might play out in regards to any of this compensation stuff?

    Pwg

    ------------------------------
    Peter Grey
    Stratham NH
    603-686-2395
    pianodoctor57@gmail.com
    ------------------------------



  • 31.  RE: Unemployment insurance eligibility

    Member
    Posted 04-05-2020 09:08
    First, regarding terminology.
    YOU are a Sole Proprietorship & your wife is an employee, UNLESS
    you are a qualified joint venture(QJV) meaning you both participate equally in the business.
    If a QJV, you produce two Schedule Cs & split both the income & expenses.
    This gives each SS earnings.
    If both share in the business, it is a Partneship & would file a 1065
    with K1s given to each partner reported on your personal Schdule E.

    Regardless of which scenario above,
    you should both qualify as "employees" even if only one is
    in reference to the EIDL, PPP, and even unemployment.
    As stated before, specifically with the states, they may not be fully
    ready to implement the unemployment aspect.
    The banks that will administer the new loans
    also just received guidance this past week.
    Even the SBA did not have complete information ready until Thursday evening.
    This will take some time, but you don't have to & shouldn't wait to file.

    Since your wife is an employees (if properly reported with 941s),
    I'll add this to the pot:
    she may be eligible for fully paid sick leave & partially paid family leave.

    --
    John Gallen,
    (860)428-6045 CELL
    Production Supervisor: Brooks, Ltd. Piano Parts, LLC
    Owner: 1040 Pianos(Tax Preparation)
    Owner:Vintage Piano Repair(Piano Moving)
    Treasurer: Master Piano Technicians
    Treasurer:Calvary Baptist Church of Preston, CT
    Treasurer:Guilford Smith Memorial Library, South Windham, CT
    Ambit Energy: Independent Consultant(www.gallonsofenergy.myambit.com)
    Institute Director, May 2019 Piano Technicians Guild's NEECSO Regional Seminar
    Convention Director, August 2019, Master Piano Technicians





  • 32.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 04-05-2020 09:34
    Yes, 941's are faithfully filed and paid.

    Do I apply to NH unemployment security or through a bank?

    Pwg

    ------------------------------
    Peter Grey
    Stratham NH
    603-686-2395
    pianodoctor57@gmail.com
    ------------------------------



  • 33.  RE: Unemployment insurance eligibility

    Member
    Posted 04-05-2020 10:04
    I believe thru the state unemployment office, in person or online.

    ------------------------------
    Regards,

    Jon Page
    mailto:jonpage@comcast.net
    http://www.pianocapecod.com
    ------------------------------



  • 34.  RE: Unemployment insurance eligibility

    Member
    Posted 04-05-2020 10:27
    Unemployment is through the states.
    As per Jon Page comments,
    each state may or not be fully implemented yet.
    --
    John Gallen,
    (860)428-6045 CELL
    Production Supervisor: Brooks, Ltd. Piano Parts, LLC
    Owner: 1040 Pianos(Tax Preparation)
    Owner:Vintage Piano Repair(Piano Moving)
    Treasurer: Master Piano Technicians
    Treasurer:Calvary Baptist Church of Preston, CT
    Treasurer:Guilford Smith Memorial Library, South Windham, CT
    Ambit Energy: Independent Consultant(www.gallonsofenergy.myambit.com)
    Institute Director, May 2019 Piano Technicians Guild's NEECSO Regional Seminar
    Convention Director, August 2019, Master Piano Technicians





  • 35.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 04-05-2020 12:51
    Perhaps  it would be helpful to limit this thread to comments about unemployment insurance as that's what's up on the marquee.  The federal stimulus package will all be funneled though the unemployment offices so if you want some help that's where you'll have to go.

    I live in Calfornia so I'm going to comment on that state.

    Your first step should be to register with Employment Development Dept. as the unemployment dept. is called in California.   Go too portal.edd.ca.gov.  This will take you to their website where you will have to fill out a form to register.  The form is long and typically opaque.  It took me a few tries and a great many expletives before I was able to finish it.  It's not really set up for the self-employed since they haven't had a chance yet to change the website to reflect our current predicament.  in fact when you get the page where it asks you to list your employers, it more or less tells you to take a hike if you are self employed.   You have to list yourself as the employer.

    Once you're registered on their site, you're put into a queue and some weeks later they will call you to set up a phone interview.   That's the point where I am at now.   I won't really know whether I filled out the form to their satisfaction till I reach that point, but you can imagine that by now they're going to be incredibly backed up.  America has never suffered an unemployment tsunami like this before and it's going to be a very long line so the most important thing to do at this point is to get a place in line.

    Like most bureaucracies now, in fact most large business in general, it's hard to find someone to talk to and ask questions.  In California they have what are called American Job Centers which are, as I gather, an arm of the EDD.   You will find a list of their local offices at: careeronestop.org.   They actually answered the phone when I called, and directed me to someone who could help me with my questions, which they did so through email on a timely basis.

    Some of the stimulus package is also going to be funneled through the Small Business Administration in the form of forgivable loans administered through  banks.  Ostensibly, these would be designated for payroll in order to keep workers on the books, though I doubt there would be little oversight.   As I am a sole proprietor I didn't take this route, but I imagine that their red tape would make the EDD's look like child's play by comparison.

    When I hear back from the EDD, I'll keep you posted.




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    Cecil Snyder
    Torrance CA
    310-542-7108
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  • 36.  RE: Unemployment insurance eligibility

    Registered Piano Technician
    Posted 04-05-2020 14:03
    If you are not qualifying for a SB loan and need money to tide you over look into a home equity line of credit (if you own one).  I do have a home equity line of credit (Bank of America) which happened to be expiring later year which prompted me to look into closing it and opening a new one.  Current rates, depending on the bank and your credit score, can be quite low right now as the Federal Funds rate is now 0%.  The HELO that I just signed has an introductory first year rate of 1.75%.  I happen to have a very high credit score which helped and generally the higher the line of credit you open the lower the rate.  On a HELO you are not obligated to use it, of course, it's just there if you need it.  When it adjusts after the first year the rate will  be ~2.75% unless interest rates change, which doesn't seem likely in the near future.  This one is tied to the prime by my credit history and score gives me a -.5 adjustment to the prime.  Terms will vary, of course, depending on your specifics.  But that is far lower than you can get from the Feds right now, though there is no "forgiveness" clause.

    Worth looking into if you need it.

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    David Love RPT
    www.davidlovepianos.com
    davidlovepianos@comcast.net
    415 407 8320
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