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**an important new rule on unemployment benefits
hidden in the new PPP loan guidance from the sba is a whopper!
it says that employers issuing a written offer to laid-off employees to come back to work can still use that for loan forgiveness purposes (so a lot of restaurants/bars will start doing this)... and the real kicker is this!
"Employees and employers should be aware that employees who reject offers of re-employment may forfeit eligibility for continued unemployment compensation,"
https://www.journalofaccountancy.com...aign=05May2020
Always been that way. Unemployment isn't a vacation, you're supposed to go back to work when available.
exactlyOriginally Posted by Rain Chains
this is fantastic news, hopefully this will bring to an end the people collecting more on unemployment than they were working
Sure , re open my bar
I'll gladly go back to worm
But the amount of work available won't be at the same level will it?
I’m a personal trainer at a gym... if my gym opens back up and my clients don’t come back right away and wait a month.... will I still be able to collect unemployment?
Theres a question on unemployment that says "Are you actively seeking work + did you refuse any work" another one saying "do you expect to be called back to work and if so what dates".... been there for years
right, but in the past you could just get away with saying whatever you want
now there will be documentation from the EMPLOYER that says you refused a written offer... so not only could you be forced to pay back some unemployment, you could be held criminally responsible for fraud/lying
Int question. If a gym's open but there's no clients, is a trainer employed or unemployed?
Are you paid exclusively from clients for appointments or do you also get paid by the gym for your time?
This is just a guess, but if you're only paid by clients, I think you'd still be fine for Unemployment. But if the gym pays you something for your time, that's gotta be employment at some level, which must have some kind of negative impact on Unemployment compensation somehow. But again, that's just a guess.
That's always been the rule with Unemployment. If you deny work at any point then you do not qualify for unemployment for that specific time period.
In the hotel industry, we have housekeepers that don't have full time hours every week, they can get unemployment on the weeks we don't have hours available. However, we record everything, so if we called them to come in and work and they say they can't, they cannot get unemployment that day but they can other days.
Important new rule is get a damn job ...lol
yes these have always been the rules, but you also haven't had all of these workers on unemployment getting paid MORE than if they were working
i would guess you will have at least 20x the amount of denied/repaid/investigated unemployment in the coming weeks/months than you did over the past 10 years combined
People will milk it for every cent
As well they should
F uck it
I'm making half my normal salary on umemployment but i'm not going back until after July. My turn to take advantage of what i've been paying into. I should look at food stamps also.
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i think as long as you are not making more than 50 percent of your salary, capped at 504 in NY, you can collect the difference between what you bring home and 504
Milky... my big hang up is whether or not my guaranteed payments will be included in my payroll costs when it comes time to apply for forgiveness. The lingo seems to be in my favor with the structure of my business being an LLC (partnership). But when I spoke with my bank during the process I was told two different things. When getting my qualified amount they said to use my GP in addition to my payrolled employees to calculate my qualified ppp loan amount. When I closed on the loan, the guy said he didn’t think GP could be forgiven. I just didn’t think he seemed to sure with all the uncertainty surrounding the “rules”. This makes a huge difference if my GP will be included. I will be able to meet the 75% no problem and would not worry about bringing all my labor back on since I’m still too slow to justify it.
whats your take?
I get paid by the gym for my time. I’m a hourly worker, but my clients will not be coming back immediately once it opens. So will I go 3-4 weeks with no pay... or will I be able to get unemployment? I’m currently getting it.
Why would your gym pay you hourly to be there with no clients? I mean if they hire you back and pay you that’s on them but your making money either way. Take the job back get paid. If they end up not affording to keep you on go back on unemployment. Or just tell them to keep you on unemployment until there is work? That would seem like the logical thing to do for them anyway.
True
If my restaurant calls me back and we only go at 25 % occupancy(as per the new social distance standards), me and the rest of the servers and bartenders will work about 10 hours a week, with way less sales and tips. We will not pay be able to pay our bills.
LB gets it.
My commute before the coronavirus was 1 hr 20 min.
My commute during shelter in place was 25 min.
My commute 1 week after the governor opened the economy again is still 25 min.
This means no one who stayed home before is going back to work.
This will be the new norm. Pay people to stay home and play all day.
You're in Atlanta, Pavy?
I think it should be. Up to the $100k annual max per partner. But I know it's an open question. It's criminal that they haven't sorted this out. I pay myself a salary through my sole member LLC s-corp so I don't have to worry about that, but GP should be treated as the functional equivalent.
Yes darrell.
Milk it best u can !! Gov't been stealing from u since u started working !!
we were supposed to get clarity by april 26th, that never happened so everyone is in limbo on that question and others
the sample forgiveness calculators aren't much help either
a couple of additional problems that nobody has clarity on yet...
1) ppp loan forgiveness is supposed to be based on payroll for the 8 week period following receipt of the loan, but aicpa is arguing that in states that are still under stay-at-home orders, the date should be adjusted to start following the end of those orders
2) congress' intent was to make the loan tax-free... but then irs came out last week and said the payments made with loan proceeds were not going to be deductible (essentially making the loan taxable)... there are a couple fights about this going on at the moment
and for those that say unemployment always worked like this, how many times in the history of unemployment have people been criminally charged? it's coming, there is an emphasis and priority on arresting anyone taking advantage of these programs... there were 2 ppp arrests yesterday
Part of collecting has always been you need to prove you are actively looking for a job.
How soon will that requirement come back?
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