Hold on - Stop the presses ! ! ! I'm mad

[Glenn Briglio]

So as an owner of your company you can collect unemployment monies?

[Randall Klein]

E ZEEEE Jack, wait til June before going bonkers

[Jack Matyas]

Originally Posted by Glenn Briglio

So as an owner of your company you can collect unemployment monies?

Yes- My company is a corporation - I am President and an employee who pays unemployment taxes to the state and according to my accountant I did the right thing by filing for compensation benefits .That said I have not received any money yet .

[stage1scott]

Originally Posted by Jack Matyas

Yes- My company is a corporation - I am President and an employee who pays unemployment taxes to the state and according to my accountant I did the right thing by filing for compensation benefits .That said I have not received any money yet .

same boat here Jack-signed up last night. While we are technically "open" for repairs, NO ONE is driving their cars, so NO ONE needs to repair their cars and NO ONE is spending money at the moment-3 oil changes last week.
As an aside, tell me you went to the sba website and signed up for the "forgiveable" 10k loan! If you didn't, do it now! it is aimed at guys like us.....

start here https://www.sba.gov/funding-programs...ter-assistance

[rognelson777]

Originally Posted by Jack Matyas

Yes- My company is a corporation - I am President and an employee who pays unemployment taxes to the state and according to my accountant I did the right thing by filing for compensation benefits .That said I have not received any money yet .

think about the benefits you do get already, do you expense your racecars, your fuel, your motorhome and trailer? aiutomotive business owners that race usually deduct, expense as advertising, enjoy the benefits you have and have a little consideration for others, like the 3 racers from division 3 that just died or the 1 month old that just passed. imagine how those parents feel.

[stage1scott]

Originally Posted by rognelson777

think about the benefits you do get already, do you expense your racecars, your fuel, your motorhome and trailer? aiutomotive business owners that race usually deduct, expense as advertising, enjoy the benefits you have and have a little consideration for others, like the 3 racers from division 3 that just died or the 1 month old that just passed. imagine how those parents feel.

I think you are missing Jacks point-he doesn't WANT to collect unemployment, he wants to WORK.

[Jack Matyas]

Originally Posted by rognelson777

think about the benefits you do get already, do you expense your racecars, your fuel, your motorhome and trailer? aiutomotive business owners that race usually deduct, expense as advertising, enjoy the benefits you have and have a little consideration for others, like the 3 racers from division 3 that just died or the 1 month old that just passed. imagine how those parents feel.

I'm not sure I understand your post - I do feel for folks who have been affected by the virus but me ( or anyone for that matter ) getting unemployment compensation has nothing to do with them - please explain to us .

[rognelson777]

i guess i was making 2 points to counter your 2 points, 1 being shut down and 2 not collecting unemployment. 1 your business is shut down to hopefully keep you, your employees and customers safe from this virus that has killed 3 racers and is highly contageous. 2 you were complaing that you cannot collect unemployment as a business owner, my point was you get many tax benefits as a business owner to fund your racing operation which far outweighs what you will get in unemployment. so let it go. by the way you can now apply for a loan as a business owner that up to 50pct will not have to be paid back if you can show 25pct was used for payroll and 25pct is used for rent/expenses.

[Lew Silverman]

Alright let's see where we are -



CARES Act allocated approximately 350 BILLION DOLLARS to provide relief to the millions of "small businesses" in this country. The idea being is that if you keep those businesses open and their employees paid the impact on the overall economy wouldn't be as bad. In theory, a great idea! Then "somebody" decided to let the Small Business Administration (SBA) supervise the relief plan. You know, the under-funded, under-staffed SBA is going to manage a multi-BILLION relief program(Has anyone tried to deal with the SBA before? Do you enjoy beating your head against the wall?). Bottom-line is that the Secretary of the Treasury now has a large number of financial institutions doling out the money, and if you don't have a previous relationship with "the bank" you'll be waiting for a while, not to mention the "fees" that will be paid to the banks for their largess. And let's not forget that businesses were told to apply for their "relief" payments as soon as possible, because once that 350 BILLION is spent that's it! "First Come - First Served"!.


Is it too early to say "Follow the Money"?

[Pat6868]

In today's world, corporations and the politicians that serve them will make sure it is very difficult for you to follow the money.