If you are self-employed—or maybe you know someone who is—there is a tax credit that you might not know about. Ryan Yumina of SETC Pros and his client, Scott Singer, are here to tell us all about it. It’s really good information that could help a whole lot of people. So, let’s start with this tax credit and what it is?
The self-employed tax credit comes from the CARES Act, passed back during COVID times. It applies to 40 to 80 million Americans who are eligible for up to $32,120 each. That’s a lot of money. Yeah, it’s insane! So, we heard about all the help that was happening during this time when the CARES Act passed. How did this kind of slip through the cracks, and why don’t more people know about it?
You know, I really don’t know. Most people heard about the things that helped employers, like the PPP and the ERC. Many employers were actually able to claim this credit for their employees. But for people who aren’t someone’s employee, or who are 1099 contractors or small business owners, this is the credit for them to help offset days missed.
So, talk to me about some of the professions that were most impacted by this until they heard about it and then got the help. We’re talking again about those 1099 employees, but who else would be eligible for this tax credit and might need your help to get it?
Absolutely. Any small business owner who had to shut down due to their kids’ schools being closed or daycare centers being closed is going to be eligible. Then you have #realtors, #barbers, #hairstylists—they were deeply impacted. One of the biggest groups is #Uberdrivers, which is where Scott comes in. You are an Uber driver. You also do some freelance work. How did you hear about this program, and let’s talk about how it was able to help you.
Yeah, so I’m an Uber driver here in Chandler, Arizona, and I do some freelance work for live events, which of course were shut down in 2020 and 2021. As self-employed people, we love it because we set our own schedule and we’re our own boss, but it comes with risks. We don’t get paid time off, and we don’t get sick leave. During those times when I couldn’t work, I just couldn’t work. I didn’t get paid for that time, and I had no idea there were all these tax credits. I heard about the PPP and I heard about celebrities getting them, but I was like, what are they doing for me? What about me?
So, you two found each other on social media?
Yeah, because I post on social media, on TikTok and Instagram, about the gig economy. Ryan reached out to potentially get the word out to other Uber drivers like me. I got back over $2,500 with mine, which is not quite the maximum, but still a lot of gas money. It definitely makes a difference.
We should also mention there is an expiration on this money, but the time frame to access this tax credit is pretty quick, right?
Absolutely. The deadline is April of next year, tax day for us. What makes us different is that we streamline the process. We created proprietary technology. Folks just get on our website, https://setcpros.com/powerhouse which takes about seven minutes. No tax document upload is needed. We are able to pull all the data we need directly from the IRS and process everything. Then you send it in. The typical waiting period for the IRS before you should get some money back can vary from 8 to 20 weeks. Then they’ll get a direct deposit or a check in the mail. It’s always fun when you open your banking app and see what you just got from the IRS. So, you guys can make it very quick and easy and help a lot of people who, again, may not have known this existed.
So don’t miss out on this chance to make the process quick and easy while helping those who may not have been aware of this opportunity. Take action now and start your application today!
https://setcpros.com/powerhouse
Disclaimer: The information provided in this blog post is for general informational purposes only and should not be considered as legal, financial, or tax advice. The availability and eligibility for the self-employed tax credit may vary depending on individual circumstances and current regulations. While we strive to provide accurate and up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the information contained in this blog post. Any reliance you place on such information is therefore strictly at your own risk. We disclaim any liability for any loss or damage arising from reliance on the information provided in this blog post.
#Truckers #InsuranceAgents #RealEstateBrokers
