Covid 19 Tax Credits for Self Employed - Sick & Family Leave Tax Credits for Sole Proprietor

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  • čas přidán 11. 09. 2024

Komentáře • 46

  • @MEF29777
    @MEF29777 Před 3 lety +3

    Thank you fir this VERY IMPORTANT info ! I added form 7202 and my credit refund jumped up $1000 thank you!!!

  • @melissamartin9694
    @melissamartin9694 Před 3 lety +5

    If you collected PUA or UI you can’t get this credit for any of the weeks that PUA/UI was received. I didn’t know that at first and almost filed a 7202.

    • @hienthanhnguyen
      @hienthanhnguyen Před 2 lety

      how would you know for sure if you collected PUA then you could not claim this credits?

    • @whoisharo4689
      @whoisharo4689 Před 2 lety

      Yes you could

    • @Mountainman524
      @Mountainman524 Před 5 měsíci

      Whatever they don’t ask what weeks or days. Sound like a need

  • @grahamwinn8989
    @grahamwinn8989 Před 3 lety +2

    Your eyeglasses are funny as hell.

  • @l.300
    @l.300 Před 3 lety +3

    All of the video on this channel are such a blessing 😇 thank you!!

  • @Techpodshed
    @Techpodshed Před rokem

    I never got sick or none of my family members got sick, can I still double dip? 😆

  • @ixelrivera
    @ixelrivera Před 2 lety +1

    Such a helpful video.
    Thank you !

  • @patrickboyle118
    @patrickboyle118 Před 3 lety +1

    So is the daily rate for up to 10 weeks , if we had to stay home with our kids? And 2 work weeks times the daily rate for up to 2 weeks if WE were sick ?

  • @user-nj3nl4mt3p
    @user-nj3nl4mt3p Před 6 měsíci

    My son was 20 years old in 2021. He was a student and dependent. He was sick with coronavirus and I was taking care of him. Can I add those days on form 7202?

  • @Rhonda858
    @Rhonda858 Před 3 lety +1

    What do I do If I am self employed but I started working on my own towards the end of 2020. So I wasn't self employed when I filed my 2019 tax return. I'm also filing Married filing seperate this year but in 2019 I filed as married filing jointly. So do I still use what our AGI was for 2019 to figure out how much I earned to qualify this credit? Or how do I figure this out? Also how can I claim this credit if I already e-filed my 2020 tax return without knowing about this credit? Also I heard that President Biden made a change regarding how much unemployment we can receive before we are required to pay taxes out of our PUA benefits? I also didn't know about this new credit when I e-filed my tax return, so what do you suggest I do should I file a amended return?

  • @msCyber
    @msCyber Před 3 lety +2

    I was self emplyed in 2019 to march 2020. But started getting unemployment benefit on may 2020 on ward. I was caring for young boys while the school closed. Can I still get this benefits? At least from March till I start collecting PUA . Thanks , great content and subscribed. Cool glass 😎

    • @divinedynasty222
      @divinedynasty222 Před rokem +2

      Never responded wow.. 🤦🏾‍♀️ i was wondering this too

  • @DreamFirms
    @DreamFirms Před 3 lety

    Thanks for sharing your knowledge!

  • @nicolashuerta7140
    @nicolashuerta7140 Před rokem

    I have a question first of all thank you for this video I think I can finally get some kind of money back but I have a question can I use my 2022 earnings for 2020

  • @epianguiano7880
    @epianguiano7880 Před 3 lety +1

    is 10 work weeks the same as 50 days or 70 days? thx

  • @Rhonda858
    @Rhonda858 Před 2 lety

    What if My husband just started being self employed in 12/15/2020 , and him and I both caught covid-19 in February 2021 and where both out of work for 10 plus days but I realize we can only claim 10 days. But when I attempted go claim the sick and family leave credit on form 7202 it said we weren't eligible for it, why?

  • @rosedonato9419
    @rosedonato9419 Před rokem

    Hello are you filing this for people? If I needed your services? And also does this apply to state and federal taxes both or just federal?

  • @aliciasexton9744
    @aliciasexton9744 Před 3 lety

    is this credit solely for CoVid 19 or does it also apply for self-employed individuals that were out of work (during this time) that had to take care of a parent/family member due to a different ailment?

  • @onenationundergod8
    @onenationundergod8 Před 3 lety

    Thanks for the info but I didn't know this so now I wonder if I should go get it amended! Any suggestions?
    Edited. I didn't actually get sick and need to take off for that purpose so maybe I can't anyways.

  • @tonerivera9003
    @tonerivera9003 Před rokem

    This option is NOT available in 2023

  • @debramckoy2304
    @debramckoy2304 Před 3 lety +2

    Definitely helpful

  • @jcastilloarc
    @jcastilloarc Před 3 lety

    Then i can't file the form 7202 anymore because it's expired?

  • @armenmeliksetyan5058
    @armenmeliksetyan5058 Před 3 lety +1

    Its only if related with Covid? Or it works if i had a surgery, and i wasn't be able to work for a week?

  • @braveheartadmirer99
    @braveheartadmirer99 Před 2 lety

    Hi, Do I claim Covid19 tax credit this 2022 year because me and my family got Covid in February 2021.
    Also am I eligible to claim this Covid19 tax credit even though I was getting unemployment benefits last year?
    Please reply my questions. Thank you

  • @davesoto8324
    @davesoto8324 Před 3 lety

    Can i still claim the family leave if i am not the parent that is claiming the child my son day care had shutdown so i had to stop working and care for him he is 3

  • @philliptexidor3029
    @philliptexidor3029 Před 2 lety

    Can you claim it even though you collected unemployment

  • @jordantesoro9135
    @jordantesoro9135 Před 3 lety

    im have w2 and 1099 nec, the 1099 nec is from amazon flex l, i just try it for 1 month and i made 651, now what to answer in SE tax form part 3 deferral line 18. Thanks in advance.

  • @ariesgirl.
    @ariesgirl. Před 2 lety

    OMG! I need help. Can someone please help guide me in the right direction on what I should do to get started with this? I am ill with Covid, self-employed 1099. I'm not gonna be able to pay my bills bc i can't work due to being sick. please help

  • @isaacpritom9295
    @isaacpritom9295 Před 3 lety

    Like your glasses :)

  • @presise
    @presise Před 2 lety

    nice

  • @lourdesnieves7407
    @lourdesnieves7407 Před 3 lety

    This applies for government lockdowns as well right?

    • @carmenhuertas6147
      @carmenhuertas6147 Před 3 lety

      This is specifically related to Sick leave or Family Leave. the lock down would affect your kids not being in school though. and the credit is for people that could not work, including telework.

  • @danishsalar8318
    @danishsalar8318 Před 3 lety +1

    If schedule c net profit negitive number we will get it?

    • @og1kanobi40
      @og1kanobi40 Před 3 lety +2

      You don't. You can't recover money on businesses and/or business ventures that were already losing money.

    • @MsMimireilly
      @MsMimireilly Před 3 lety +3

      Net profit has to be above 0, so if your business took a loss you won’t be eligible. You have the option to use 2019 or 2020 taxes

  • @yasir8104
    @yasir8104 Před 3 lety

    How to apply

    • @carlel121
      @carlel121 Před 3 lety

      On your tax return, whoever is doing your taxes ask if you can qualify for this credit

  • @simonetrafford4968
    @simonetrafford4968 Před 3 lety

    Hey dude! This vid is so cool! I have been trying to find for a CZcams video similar to yours that informs the ideas in this video. 👨‍⚕️ 🩺Your content reminds me of the channel of Doctor Ethan. Doctor's explanations are really helpful and he actually helped me a lot on midterms. He is the most informative medical student in Nottingham and he talks about diabetes.
    I suggest you check out his channel out and give Dr Ethan a like over here! ➡️ #DoctorEthanStudent

  • @ahmadali-kj3sq
    @ahmadali-kj3sq Před 3 lety

    How to apply

    • @carlel121
      @carlel121 Před 3 lety

      With your tax return, whoever is doing your taxes ask if you qualify for this credit

    • @isabelcastellanos8339
      @isabelcastellanos8339 Před 3 lety

      My accountant has no idea about it

    • @izzeldinmohamed69
      @izzeldinmohamed69 Před 4 měsíci

      Where do I need to sit or mail my application