Most beauty and barber professionals, booth renters, salon suite owners and independent stylists and estheticians are allowing thousands of federal relief dollars to slip by them, unclaimed.
The Professional Beauty Federation (PBF) wants to make sure the beauty industry obtains its fair share of this last remaining federal government opportunity, given how hard Covid-19 lockdowns and restrictions hit the beauty industry.
PBF is pleased to present a self-guided, online portal to assist self-employed individuals in recovering income disrupted by the pandemic through Families First Coronavirus Response Act (FFCRA) tax credits. Whether these disruptions happened in 2020 or 2021 or both, then they may be eligible for up to $32,220 under the FFCRA. This tax credit money can be used without restrictions, unlike prior PPP funds or other federal loans.
The FFCRA is a federal law passed in the U.S. in 2020 to help address the impacts of the Covid-19 pandemic on families and businesses. Qualified self-employed beauty and barbering taxpayers could receive sick leave credits up to $5,110 in each 2020 and 2021 if they were sick for any reason during the pandemic eligibility periods. Self-employed pros could also receive family leave credits worth up to $10,000 in both 2020 and 2021 if they had to care for someone, like a child during online schooling. This is a 100% refundable credit.
Fred Jones, PBF legal counsel and advocate, states, “All of our beauty and barber professionals felt the financial pinch during the pandemic, and this is our chance as an association to help the industry get some much needed relief. We’ve been helping employee-based salon owners for the past year apply and receive millions of dollars with ERC, and now we have an opportunity to help the self-employed — the true heart and soul of our beloved industry. Even if an independent beauty or barber worker received PPP, they still likely qualify. And if a self-employed professional qualifies, the money is theirs, free and clear with no need to apply for forgiveness.”
The PBF will also allow the self-employed/1099 spouse or significant other of beauty and barbering pros to use their online portal, even if they don’t work in the industry.
For more information on how to apply, please go to www.ProBeautyRelief.com/ffcra.