The widespread impact of COVID-19 in 2020 and 2021 significantly affected businesses across the board. Today, relief is available for real estate professionals, as well as self-employed and independent contractors like yourself. You now have the chance to claim relief compensation of up to $32,220 under the Families First Coronavirus Response Act. These funds are designed to offset lost work days resulting from lockdowns, illness, quarantines, and school closures. Unlike other programs such as PPP, these tax credits require no repayment or forgiveness and can be spent as you wish! Invest in your business, take your family on a well-deserved vacation or attend the real estate conference of the year.
As the CEO of your own business, seize this opportunity to invest in tools for your business, education and your future retirement. The ONE Marketplace is available to guide you though business growth tools and programs.
To utilize our platform, you must have reported self-employed income on your Schedule C (of your 1040 Tax Return) in either 2020 or 2021 and had your income impacted by COVID in one of these ways:
- You had Covid and/or quarantined
- You took time off to be tested or get vaccinated
- You missed work due to a reaction from the vaccination
- You were subjected to a Government lockdown
- You had a child home due to school closures
- You cared for someone else
There are just a few quick and easy steps to claim the money you are legally entitled to —so let’s get started
“Family” is in the name of the law, so it’s self-employed pro’s with dependents who will receive the most from this program. But even those who didn’t have dependents during COVID can qualify for personal sick leave compensation. This tax credit(which we refer to as SETC) was designed to help you recoup losses from COVID-related lockdowns, quarantines, and school closures
YES!!! But don’t take our word. Go directly to the IRS page to read more about this program. Here is their link with further information: https://www.irs.gov/newsroom/tax-credits-for-paid-leave-under-the-american-rescue-plan-act-of-2021-specific-provisions-related-to-self-employed-individuals
Any 1099 independent contractor, booth/suite renter, and self-employed individual may be qualified to receive FFCRA funds. To qualify, you must have filed a Schedule SE as part of your 2020 and/or 2021 1040 Tax Returns, which reports your self-employed income.
YES! If you both file a schedule SE, you can both file for the refund. However if all the income is reported under one person, only they will qualify for the refund.
We have created an online and automated system for you to easily submit your claim directly with the federal government for these funds. You just need to have filed a Schedule SE as part of your 2020 and/or 2021 1040 tax returns (to verify your self-employed income) and have a driver's license or other official photographic ID (for purposes of verifying your identity).
No. This is not a loan. These funds have been allocated to the FFCRA program by the federal government and will not need to be paid back.
No. FFCRA provides money for Self-Employed/Independent Contractors to be used without restrictions.
There is a 20% fee that is collected when you get your Tax Credit.