This page is designed to be a quick reference guide to resources
At Salons by JC, our suite owners are the very core of everything we do. We know that with the recent outbreak of COVID-19 many of our suite owners may be facing difficult financial challenges. This is why we have compiled this page of resources as a companion for the large number of educational blog posts we’ve created to help you through this difficult time. Those posts, located in our blog, are designed to be a more active and depth guide to help you through this time.
The Coronavirus Aid, Relief and Economic Securities Act (CARES Act) provide eligible individuals with a one-time direct deposit of funds to provide immediate financial relief, based on your 2018 or 2019 tax filings. For those who filed taxes in 2018/2019, deposits will be automatically made to your bank account, if it was used when filing.
The following guidelines outline the program in more detail.
If you have used direct deposit for payment or refunds with the IRS in the past year, funds will be deposited directly in your account. If not, you can expect a physical check in several weeks.
Another benefit of the CARES Act is the expansion of unemployment insurance and payments to self-employed workers and/or independent contractors. This includes independent salon owners who are registered as an LLC, Sole Proprietor, etc.. The changes the CARES Act implements include up to an additional $600 a week in addition to the individual state unemployment benefits. Currently, this change is set to last for up to four months, ending on July 31st, unless further updated. Pay for unemployment will vary state by state, but the CARES act amount is universal across all states.
To apply for unemployment benefits, visit your individual state’s unemployment website:
The deadline has been extended from April 15 to July 15, 2020. No additional forms or information is required to file your taxes.
For more information visit the IRS website.
Many state and local governments have made changes to the process of evictions. This may include extended deadlines or actual pauses to any eviction processes. For the most up to date information, speak to your landlord or local government officials and let them know you are unable to pay rent due to the Coronavirus.
Much like the changes for renters made by state and local governments, your financial institution may have programs in place to pause or defer your mortgage payments. Contact your mortgage lender to learn more about specific steps they may be taking.
Similar to the previously mentioned changes for mortgages and rent, many financial institutions are implementing similar procedures for auto loan payments. These may be automatically deferred payments or options deferments upon request. Contact your lender to learn more.
The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s (Department) Wage and Hour Division (WHD) administers and enforces the new law’s paid leave requirements. These provisions will apply from the effective date through December 31, 2020.
Generally, the Act provides that employees of covered employers are eligible for:
To learn more, visit the U.S. Department of Labor website
The PBA COVID-19 Relief Fund is designed to help support the licensed beauty professionals who have not been able to work or are experiencing financial hardships due to the COVID-19 outbreak. The Relief Fund will provide $500 to licensed beauty professionals who are unable to work due to COVID-19. The funding is intended to be an emergency aid for short-term immediate needs.
For more information, visit their site here.
These $1,000 grants will provide financial assistance to beauty professionals or students of beauty programs, whose lives have been drastically changed by the mandated closures in response to COVID-19. Available to beauty professionals and students who are unemployed and cannot maintain their regular income during this time, these one-time $1,000 grants will be distributed directly to the applicant to provide temporary financial relief. Applications are open starting April 1, 2020.
To Qualify Applicants Must:
United Way 2-1-1 provides resources for those seeking assistance finding food, paying hosing bills, and other essential services. Call 211 or text your zip code to 898-211 for information.
These grants will provide financial assistance to nail professionals, whose lives have been drastically changed by the mandated closures in response to COVID-19. Available to licensed nail professionals who cannot maintain their regular income during this time, these one-time $1,000 grants will be distributed directly to provide temporary financial relief. Applications are open starting April 1, 2020.
To Qualify Applicants Must:
For more information and to apply, visit their website.
We strongly suggest you speak with a certified financial advisor for professional financial advice and guidance.