Updated: Apr 2
Beauty Pro Friends take a deep breathe!!! You are not alone in this financial crisis that this pandemic may have caused your business and income. There are people in our industry and other places working on our behalf to help bring relief to small businesses like yours. We have gathered together all of the resources known to date that you may be able to take advantage of.
Tax Deadline and Payments Extended. The original deadline to file your 2019 taxes has been extended to July 15, 2020. See further details on IRS website. https://www.irs.gov/coronavirus
Unemployment Benefit Insurance. The unemployment benefit insurance may be available to you via the new CARES (Coronavirus Aid, Relief, and Economic Security) ACT. Visit the U.S. Department of Labor site frequently for updates as the details have not been fully updated on their site regarding self-employed. In what we have learned about other unemployment insurance benefits programs like the Disaster-Related Benefits which is “a major disaster is a natural catastrophe such as a severe storm, hurricane, tornado, straight-line winds, and associated flooding that resulted in a Presidential declaration of a disaster,” self employed individuals are included. Under the Disaster-Related Benefit, the Georgia DOL also site explains, “any individual who is unemployed as a direct result of a declared disaster may apply for DUA. This includes self-employed business people, farmers, loggers, commissioned-paid employees and others whose unemployment occurred as a direct result of a declared disaster, but who are not eligible for the state's regular unemployment insurance program.” Under this program pertaining to natural disaster relief we are assuming that the new CARES ACT will somewhat resemble the same or similar guidelines. Be sure to follow your state’s department of labor (Georgia https://dol.georgia.gov/gdol-covid-19-information) site for official updates and guidelines or visit https://www.dol.gov
SBA LOANS. The U.S. Small Business Association is offering loans at low interest rate of 3.75% to small business owners suffering from COVID-19. Non-profit organizations may qualify as well. To take advantage of this loan you must apply. For more details visit https://www.sba.gov/disaster-assistance/coronavirus-covid-19
Access the Small Business Owners’s Guide to the CARES ACT https://www.sbc.senate.gov/public/_cache/files/2/9/29fc1ae7-879a-4de0-97d5-ab0a0cb558c8/1BC9E5AB74965E686FC6EBC019EC358F.the-small-business-owner-s-guide-to-the-cares-act-final-.pdf
Beauty Industry Updates is another resourceful website for updates that affect the beauty industry during this pandemic. https://beautyindustryupdates.com
Note: You must visit the links provided in this article for accuracy, details, and updated information pertaining to each subject. For your convenience links have been provided to IRS, SBA, DOL, and Beauty Industry Updates.