 Yeah. Hi, Tom Sturdy, cleaning booth is today and I'm with my partner with frotter and this is our daily five o'clock eastern time call to discuss what's up with with the coronavirus. Today we're going to be taking some time and we're going to be telling it like it is as it pertains to going to the small business administration website and applying for a 7a loan. Yesterday we talked about what was in our circle of influence and what was in our circle of influence and we really don't want to be burning a lot of calories, fretting over things that are really be on our control. The one thing that is in our control is we can all as business owners go to the small business administration website and go through that application process. I think most of us have not yet done that. There have been some changes of the last couple of days in terms of how that whole process works and we're going to walk you through that. I know that the piece of legislation that was in the house passed today and I understand it was actually signed into law. I have a power point deck here that shows you just a little bit of what that's about at a high level and here we go with the old TV thing again but I'll fix that. I love it when it does that actually. Hey Sarah. When I was in college they warned me that might happen sometime later in my life and I never believed them. Here's some resources. I'm going to copy and paste in the thread that gives you more detail of what they're calling the care act, the criminal aid relief and economic security act. Part of this is the SBA loan program and it's program called 7A. It's been around for a while but they've made changes to it specifically for to deal with the coronavirus and the impact it's having on business owners. The amount of money you can apply for is equal to your monthly payroll times 2.5 so basically it's 2.5 months worth of your payroll. The exact calculation for how to do that we'll save that for another time. I don't even know myself at the moment but just give you some idea of which money we're talking about and you can use that money to cover payroll to cover employees salaries to mortgage rent utility and parents premiums and any other debt you have if you got bank notes or car payments or anything that's some type of note you can use. There's an opportunity to have that loan or at least part of it forgiven. The monies that you use to cover payroll or to cover interest payments or rents or utilities for the eight-week period after you get the loan can be forgiven. Basically it turns into a grant you don't have to pay it back provided that your payroll doesn't you don't lay anybody off. If you've already laid people off you can bring them back and still qualify for that grant. If it makes sense to do that or not it's really complicated and that's for another discussion as well but that's just kind of how it works. On that one is that the $10,000 grant that everybody's talking about or is that something different? The application process is the same. You go to the SBA website by applying for that 70 loan you're a candidate for that $10,000 you know grant as well. But my question is is the $10,000 grant that everyone's talking about is that what you were just showing right there? That's something different right? That's like pre-mandering right up front just because you are business employing people. I don't know all the criteria for that at the moment. It might be out there. I don't know. We're going to be researching that over the weekend and try to get more information on that. Tom I just have to say real quick I'm glad I know you. I'm really glad I know you. Thank you for doing all this. Let's be honest it's a mixed bag right? There are times right but for right now I'm really glad I know you. Thanks for taking this on for us all too. I really appreciate it. I have to say it on here so that I don't have to say it just one on one. Good stuff Tom. Okie dokie. Do we want to jump right into the SBA website and kind of go through the steps for how we do this? Would that be helpful? People will love that Tom. So here we go. We're going to do the... Can you guys see my screen? Is this okay? Yeah. Oh I did want to talk about one thing while you're doing this too Tom. So there is some there's conversation going on. Should I or shouldn't I? What if I am like a Dave Ramsey follower and I don't believe in taking out loans and you know Dave Ramsey is suggesting right now. No don't take out loans. He's recommending that you not that instead you you know cut expenses and do all the things. So I don't know what do you think about that for our industry, our people and is there another side or is it just you know bottom line is do what your conscience tells you to do. You need to be looking at me at the end of the day you know you have to do what your conscience tells you to do. A loan is a tool. You need to be thinking about it as an investment but you know if you have a shock to your business that you need cash in order to preserve that asset that business that you've built then you know there's a I think the majority of business consultants would tell you you know you borrow the money to save your business that the alternative is you close your business. Now Dave Ramsey might be saying you know can save your business without borrowing the money. Well if you can do that that's great. The problem is setting here now you don't know six months from now if you're going to be able to do that without our money. So my advice is what's two steps. What we're going to show you today is how to apply for it and most likely you'll be offered money. At that point you can make a decision. No I don't want it. If they want to give you a grant as part of this $10,000 you never have to pay back. It would be my strong advice and I think Dave Ramsey would agree with this. Take the $10,000 you never have to pay back but I would take the money that I would have to pay back and then I would try as hard as I could not to touch penny of it and give that back to the government when it's all said and done and you know that's best case scenario but we don't have a ball. You might want some of that money to keep your business alive for the long run. Well I'm just thinking too that you can take that money you put it into uh savings account and maybe you collect a little tiny bit of money on it and you you know if it's tears down the road and you end up you didn't need a penny of it and you got to use it. What did it really cost you? Yeah I think the the amount of interest you're going to be gaining in any type of uh you know fixed you know asset where you're you don't have to worry about losing the principal is going to be really really low. I was on a call a couple of days ago joking around about borrowing money and putting it in the stock market and they we decided we don't even want to joke about that. That is not. Legally you can't use these funds you're limited in what you can use it for um but just just practically you know you're not you don't use this money to do anything other than invest it in your business. So just just put it in a in a in a savings account and get your .01 interest on it which does nothing but at least at least the principal. Yeah my point was that even if you're not um gonna be earning a lot of money on it you're 100% not losing anything it's not costing you anything you're actually it's in the positive column not in the negative column. Yep absolutely. All right so this is okay so you guys can see uh the SBA website. Yep. You go to sba.gov up here at the top this little yellow banner where it says learn more about COVID-19 small business information. Okay so when they first launched this site the idea was that you applied online. Great idea but in practice it didn't work that well because the website kept crashing so now they've basically redone the program or the application process where they want you to download a bunch of PDFs and um and upload fill them out and upload them. If I click here where it says apply online it brings me to this page. This page has forms to download and we're just going to do that right here. If you're a business like an LLC or or uh a corporation you would use number one if you are let's go back here just to show if you are sole proprietor you would uh do number two but it's it's basically the same process we're going to pretend that that we're a corporation and this is the application so you can actually download this and save it on your computer and then open it up and you can write right in here. The type of loan you're applying for is what they call economic injury EIDL you put there. If you've got you know some military uh experience you might be able to you know take advantage of that here. I'm not really familiar about that um how that works but if you're corporation you put there and then you put in your company and so on and so forth. You can just fill out each one of these and when you're done you can print it and and sign it and scan it because what you're going to do with this form along with several other forms that you're going to fill out is you're going to drag them and drop them here and you're going to upload them and then you're done you've applied but there's several forms that you're going to have to do you're going to have to do this loan application you're also going to have to do number three which is the injury disaster loan supporting information and you just answer these basic questions and if you should be able to get these numbers right out of quick notes um if you if you don't you can get them from whoever does your taxes for you it's a very simple form though you'll need to sign this and date it as well and that would need to be uploaded if I go back here and I'm going to go this form is not terribly long it's uh this is like two pages but it's got this part here it says there's other things that you need to do you need to fill out a what they call an IRS form 4506t and basically that's giving the small business administration access to your tax information and your your your your the taxes that you filed and that form is over here and again you know it's not terribly difficult it's one page saying and you fill it out print it and sign it I'm just going to check in real quick Sarah Bridget Heather uh is this what you guys were hoping to see is there anything else that Tom should be showing on here yeah somebody had mentioned Tom that on the loan on the two page that there were questions and I can't remember which numbers I want to say 1415 1617 a good Bridget um that that thing always messes with me that they are just skipping for some reason can you look at those questions and see what those might be we're going back in yeah all right and I can't remember exactly which ones they were maybe you could look at we can't really see them or I can't any anyway can you guys see my screen yeah it's just really small I have a small screen so how about that yes so much better okay okay um this is actually sorry Karen was saying you need your P&L I need a P&L statement form 1368 we'll get to that Karen yeah okay so we're good with how to fill these detail like number 15 15 um I think zero goes in all of this because this is more for if you got hit with a storm or something a hurricane um your dad you haven't lost any equipment you haven't had any real state damage you haven't lost your inventory or any any uh improvement you've made to a property that you've done so all of these would be zero all yep that's the one that everybody's asking do I just skip it should I put something in there just but the thought which you're filling out applying for economic injury EIDL they'll know that this is because you've lost business because of the coronavirus and they would not be expecting to see anything here so you can leave it blank or put zero either one you'll be fine right now you guys we're just talking about applying for the loan so we'll we'll answer your questions in just a second this is just showing how to apply for the loan oh um sorry I misunderstood what Heather was uh maybe we better answer these questions real quick Tom so so this loan is to help pay payroll whether we are open or closed that's what Sarah wants to know in part you can definitely use it for that you can use it to cover rents you can use it covering banknotes um mortgage anything that was in place or not anything but they have to have been in place as of February Heather wants to know also is this is this the form I think she means form here to bring up paying our staff or letting them collect unemployment to pay the loan back or get a grant we've already laid off okay not that yet Heather and that Sarah says I heard we should be paying employees that are working extra all that are working we should be paying them extra since the unemployment pay pay is so high and incentive to work yet we're not there yet hate to need it says to put question marks in number 15 you may do that if you actually that implies you actually incur the loss you just don't know how much it was so if a tornado blows your building away you know you have property damage but you might not know how much that what you put a question mark there in this case you do know that your building is is I presume to be fine so that would be either breakers you could also put in a in there you may be that it's not my my hunch is that they're going to be getting so many of these that you know I have no idea how they're going to underwrite all this I mean they're just going to I presume there's going to be rubber stamping the stuff they they wouldn't have time to read it I wouldn't think I don't know just asking about number 16 Tom she's thinking we leave that blank as well so I think maybe we should run through the questions real quick okay insurance coverage yeah that doesn't apply because there is no insurance for yeah 15 and 16 and all this about policy number all of that has to do if you're applying for you see they got like most of this has to do with physical damage real property business contents you know your inventory gets washed away if you're doing economic injury there is no insurance there is no loss of inventory or you know real estate or whatever so 15 16 would would be empty 17 this is your information you would do that you determine if you put in your SSN or your EIN if the owner is you as an individual you know Liz Trotter Tom Stewart it would be the name would be Thomas Stewart that's what my mother called me and my personal social security number um if you have like an LLC that owns your cleaning business then it would be you know some name LLC and it would be the EIN of that LLC for most of us I believe we as individuals own our businesses so it would be our personal stuff um Tom let's see Karen is asking what if we had contractors and not employees for a number of employees which have they put under number of employees I don't even know where is that question that is a good question it's here somewhere I totally want to say over the rainbow it is here somewhere I don't know the question I can I mean I don't know the answer 100 percent if I were filling it out I would count them as employees even though they aren't but I might be wrong um I don't know I would too Karen I would let them come back and tell me hey those weren't employees those were subcontractors because they don't have a place to fill in the number of subcontractors if they have I do I do understand in the the new legislation that became law today that independent contractors will be able to apply for a lot of the same benefits of employees will be able to in terms of lost wages and employment so it seems like information won't show somewhere okay so Sam says so on the personal information if we are in LLC filing taxes as a sole prop then it is just all our personal info for an LLC it depends where um if you're an LLC my cleaning company LLC the applicant's legal name would be my cleaning company comma LLC and the presumption would be that you've got a federal ID for that LLC and you would plug that in there down here if you as an individual if Samantha Snyder owns that LLC then you would put your name here and if you owned it a hundred percent you'd put a hundred percent if you owned 50 percent you know somebody else owns 50 percent you would put your name there and I mean you're the person applying for it there's somewhere else that you so exactly where she would put her social security there then she put her EIN earlier then put her SSM there this would be her personal social security information yes and yes I'm sorry um Sam had asked I said yes Sam to the 16 blank yep yep 16 is blank so if you've got a partner and you're like you know 50 50 then you put your partner's name here and that would be 50 percent you'd have their social security number there and so forth so we've got this form this is the application we've already looked at this little simple form here which they call the supporting information and this you can get out of QuickBooks or your account you can give that to you kind of go back over here though because this information right in here is the other stuff that we need to do so that form 4506 which you're you're giving small business administration the right to pull your the tax returns that you've you filed they want you to actually upload your most recent federal income tax return for the business so this is a personal tax return this is your the tax return for your company my cleaning company comma LLC their tax return but for Sam if she is um an LLC filing personally it will be her personal tax return right nope let's go back to this again because this is confusing the applicant the person that's the the legal entity that's applying for the loan is the LLC okay if I were doing this I would that it would be castle keepers okay and I don't know what the federal ID is but there is one okay I don't know whatever it is and all the information down here about castle keepers once I get down here to the owners I would have my name and we'll just say a hundred percent to keep it easy my email address you're going to type in your personal social security number there Tom yeah I am oh it's easier that's awesome yeah and you plug in your personal social security number there okay in your financial status your birthday which is in some year I don't I can't remember it was a while ago right and so Linda is double checking that if the business is asking for um under number 17 it is asking for business entity owner as a corporation will that be empty or still put the personal information there again the corporation somebody owns the business every business has an owner the business would you know there are businesses that own businesses okay like there's owning companies that own other businesses mine and you might have a structure like that but 99% of us we as individuals own our company we might have partners where there might be two or three individuals that own it but so you're putting whoever legal entity is here who owns the business who owns the stock who owns the equity in the business so Tom can you explain the difference we have number 17 has owner and then legal name social security number and that has legal name again so in case you have multiple people right as owners but then if you go below that it shows it says business entity owner name what's the difference oh okay this would be an example where it's not a person it is another business that owns all that and that's why it says type of business there yes okay that makes sense all right is that answering everybody's questions around the section see it's um it can be confusing because there's so many different things that all look very very similar okay if it's not hit us up otherwise looks like we can continue on do we need to go through any of these yes no questions how how easy are those Tom hopefully they're all no because if they're yes that might be problematic you know they want to know if you've ever been bankrupt you want to they want to know if uh you you know there are any you know judgments against you i'm just you know um right yeah i mean you might be okay with that i suspect it would be problematic if you know you've been bankrupt or like e if that's yes you're delinquent in your taxes that would probably be be a problem but the questions are what they are you need to answer them honestly yeah you don't have a choice there yeah 19 is kind of the same deal here you know are you a subject of you know an indictment or a you know blah blah blah probably be you know if you say that now that probably makes it a little bit simpler but again you gotta you know fill these fill all this out honestly all right let's see Bridget says that's a business entity owner part with two partners will be n a so yes because you would have filled those two names up above under legal name you wouldn't have a business entity owner so again we've got the application we've got this supporting information which is like a one pager yeah need to do this IRS form here that gives uh small business administration the ability to access your all the tax information that they're gonna want and we also have to do just two more documents um schedule of libraries and there's a personal finance statement this is basically a form where you're gonna put down who you owe money to this is the instructions i guess um there's downloads for the instructions for some of these forms too if you're you're not clear but what i keep doing that you're looking for form 2202 not the instructions for 2202 instructions go up schedule up go right here there you go but it maybe keep going oh there it is i wonder why they have the instructions separate if they're maybe they've got them backwards this is the form okay so they say instructions it's not the instructions it's the actual form so they can't i don't know how they're gonna process all this they can't even get the links right on the website i don't feel optimistic right now or i should feel more optimistic right they're just gonna be like rubber stamp rubber stamp rubber stamp we're in trouble guys okay now so this is like a one-pager and you just you know who you owe money to if you you know have car note you put that there and you know how much you still owe on it the date you got at the original amount and what you pay each month you know if you got uh you know it's going to be bank notes if you got like a uh a line of credit if you got some type of you know loan for for whatever this but what about your power bill that's money well that's not a liability that's an expense it's not um so what do you explain maybe explain so maybe explain that a little bit more you know people are confused by that these are mine this is money that you've borrowed that you have to pay back so you borrowed money to buy a car or to buy cars you borrowed money to buy equipment you borrowed money to buy an office you borrowed money just as a line of credit to do other stuff with you said i'm going to pay you back over the next 60 months with this monthly payment typically there is like a a monthly payment associated with it and some interest probably an interest yeah there's interest associated with these things all right we've got a question here from vert on the personal financial statement do we fill one out for the business as well as the owners example heather vert and one organized mom okay personal financial statement we haven't gotten to that one yet are we are we going to cancel in just a second are we okay with the liabilities anybody i just know a lot of people get confused between liabilities and expenses but i think you explained it well enough yep this is so the question was about this form here um yes i think so and then sarah is asking only for the business not personal even if you're an escort talking about this form here he's talking to you guys vert and sarah is this the form y'all are talking about go over it anyway tom this form here is personal this is you this is the human being you setting here miss this is tom steward this is liz trotter this is the the the the the financial information pertaining to the people whose names are on on on 17 of this form here okay so um this is what vert and denit and everybody's looking for sarah's question was back about liabilities she wanted to know liabilities only for the business not personal even if you're an escort correct if you've got personal credit cards or like a car or you know like a like a mortgage on your house that would not be included because those are your liabilities not liabilities of your company remember your company is who's applying for this loan this is the last thing we have to do and this is what they call a personal financial statement um i would guess we've probably have filled these out before in some form or fashion a lot of times if you're borrowing money from from a bank they want to see something like this um i have a question up at the very top right hand corner it says expiration date 331 uh 2021 never mind i don't have a question but this is you as an individual how much money do you have in the bank savings accounts i mean basically you just need to look at what you got and get the dollar amount now you gotta take a time frame by the way this is as of um so this doesn't have to be as of today you might not have all this information but you could do it as of say 12 31 19 might be a little bit easier i can tell you that's what i did um just because you got all your year in stuff and all your statements everything's just a little bit easier than having to track down numbers that you might not have have readily um available but over here it's like your liabilities in terms of money you are currently current bill that you have and notes that that that that that you owe to to banks and so on and so forth and if you're really stuck on this i would probably get with the person that taxes i don't know i think they've got instructions for this no no instructions this is probably the trickiest part right here a lot of information wanted there yeah notes payable i mean what you know this is you personally i think uh somebody somebody sarah maybe you were asking like your personal debt like yeah if you've got a house note if you got a mortgage you bought a house and you got a mortgage that information would go go here um they want to know if you own stocks bonds stuff like that want to know what real estate you own do you have any taxes you haven't paid although i build these you have life insurance they want it all geez i hope they're not going to reduce because of life insurance or something what the heck but you know this is just your opportunity to find out every single freaking thing they can't about you yeah they know it they know they know this anyway but um i'm not a cpa i'm not an expert with with how you know the the sba does its thing i've filled a number of these out in the past and i've never had any you know my experiences nobody expects us to be you know right to the you know last penny just you know be honest don't make stuff up and don't consciously hide stuff but just do do the best you can and again the volume of these things that they're going to be getting is such that they're not going to have time to go through all this that's my guess so bridget wants to know what would be a good time frame three months or last year do they do they give you that well a lot of these these assets and liabilities there is no time frame it is if you can if you want to do this say you know at the beginning of march or you know at the at the end of 2019 i wouldn't go back any further than the beginning of 2019 but just pick a date you know i'm going to do this 12 31 19 and i'm not typing for some reason while he's doing that didn't he the answer your question is bridget's got it here for you 2202 oh that's the liability form yeah yeah okay so if that's the date you picked then you would go back and look at your statements i would in for that particular date and you have the bank statement for that particular date and you know if you add $5,000 in the bank then it would be $5,000 so it's not it's not like how many you know how much revenue did i generate or how much money did i make it's like just that snapshot in time whatever date you pick here you know how many assets you know give me give me the assets you held and you know the money that you had in the in the the other asset you had and the the debt and liabilities and how much you owed other people does that make sense basically the information on your balance sheet isn't it come it is this is balance sheet yeah so it's that's kind of easy just get that info from your balance sheet or your account if you don't know how to wear the trick but this isn't this isn't your company now this isn't like getting the balance sheet from xyz cleaning company ink this is your personal balance sheet or what's trover's personal balance sheet actually a lot of people won't have a personal balance sheet if they don't have any kind of like we have one in it personally because of real estate holding so we've had to go through this exercise but probably most people aren't going to have this are they no unless you've done it before i've done this in the past for like getting other loans and stuff and working with banks over the years so i usually just dust off the old one i have and update a couple numbers and and go with it uh jena has uh some a question here tom cleaning companies lack inventory of any significant value some of us hold notes on the cars in the fleet i'm basically personally guaranteeing the loan correct who the guarantor is if you're guaranteeing a note that actually is for your business if your cleaning company took out a loan to buy a car and you personally are guaranteeing that that's a liability for your company not for you personally so that would not show up here that would be that would show up on this guy here because that's your company's note even though you personally are guaranteeing it it's still technically a liability of your company not you personally and then she says wondering if it doesn't make more sense to apply for a line of credit based on residential property that i hold the note on question mark yet there's discussion of these sba loans converting to grant to grants so there's that and then serah's also asking about the grant aspect let me do this let me back out of this i just want to go over real quickly that we've got the application that we need to do and we've got the disaster loan supporting documentation and those we download from like one in three if your sole proprietor would be two and three in addition to that you need to do this guy here your your personal financial statement you need to do the schedule liabilities for your business and you need to do this 4506 which gives sba the ability to get into all your online tax stuff with the irs so it's those five things and you download it you can fill it out within adobe reader if you want to and print it out and sign it you're going to scan it all back in and you then upload it you just drag it and drop it there and you're done so so serah's asking these are the loans that we imagine will be forgivable correct um some of it may be forgivable um under certain circumstances certain circumstances if you're if you don't have a reduction in force if you employ the same amount of people before the note before you get the loan as you i mean excuse me after you you get the loan as you did before you get it then there's a number of expenses that you that you can basically write off and and basically not have to pay the the loan amount for those back like your payroll expenses your uh space let me see we had that here in a powerpoint dot um payroll mortgage rent insurance premiums and other debt obligations could actually be uh no i got that wrong payroll interest payments on mortgages rents and utilities all those for uh eight week period could could be treated as a grant the payroll though i'm not sure if that's a hundred percent or maybe fifty percent of the most recent stuff i've i've seen suggested you might not even be able to get credit for a hundred percent of that payroll but maybe part of it uh okay if i could just elaborate yeah that's why i wanted to spend most of the time on how to go to the sba website and fill out those five documents and upload them because that's all we know we're for sure at this point in terms of of what we want to be doing and if you don't want the loan at the end then you don't have to take it but you're going to be better off having that option than not having that option and you know if you qualify for the ten thousand dollar grant up front this would be you know part of that process as well so you don't have to if you fill out these five documents you are doing everything that needs to be done to qualify for that ten thousand dollar grant that keeps being thrown around correct there's nothing else to do that's my understanding okay it's it is my at the very least you're going to have to do this in order to get in line for it if there's one other thing that you have to do or other things you have to do we'll let you know that next week but sooner you get on to this the better off you're you're you're gonna be all right let's see um then Karen says if you have an employee still working i believe so let's hit that in a second because linda's question's easier and i'll let you hit karen again karen says do we add our latest business tax return i'll wait to see if they request it that's part of that was listed on there wasn't it tom i thought i remember saying yeah you're supposed to be uploading your your business tax return as part of this it's it would be the most recent one you filed if you filed your 2019 you would upload that if you haven't filed that yet if you're working off an extension you would have to do your 2018 all right and then karen is saying she's talking about the grant um and she's thinking that the you see what she's saying here tom if you have employees still working i believe and a certain percentage of employees i'm not exactly sure i think she's giving information about i'm not exactly sure what it is the the the the the formula there's gonna be a formula that's going to calculate if your loan with part of your loan can be turned into a grant that's going to be based on the number of people you had working for you after you got the money as opposed to what was working for you before you got the money and even if you had a reduction in force to some degree there's a ratio where if you still got some people working for you then still some of that money can can be turned into a grant not it's it's a smaller amount but you know it's going to take a lot of books i mean the the one of the one of the things that's becoming really clear to me is you take you know managing the funds to figure out if your loan's a grant and all of that and lump over this the the additional requirements are going to be placed on us as employers in terms of the paid fmla and the paid sick time and you know it's a thing if you spend you know whoever gives your book if you do that yourself if you're you're spending a lot of time on that now you're gonna be spending a lot more time on it you know we don't even we don't even know what we don't know at this point but i just fear that it's going to be a lot of red tape so way up the top here there were a couple of questions i said well we're going to get to that later let's get through the forms first um let me see if i can find those i think sarah oh yeah she says okay i'll slow down um all right so here's what heather was saying um oh wait first let me hit heathers is this the form to bring up paying or the forum she is asking about the form is this the forum to bring up paying our staff or letting them collect an employment to pay the loan back back or get a grant we've already laid off 11 of our 28 staff members she wants to know if this is the right place to be asking that question it's certainly a fair question to to ask um honestly i don't think there's an obvious answer to that there's still a lot of gray area in terms of all these laws that have gone through over the last week here exactly how they're going to be applied one thing one one one thing i do believe to be true i i saw this and this makes sense that as far as the paid fmla and the paid sick time as as an employer you've got like a 30 day grace period i don't think that we even have to start dealing with that until we get into may um that's my that's my understanding we got a little bit of time to figure that out um but every you know every i think i think i think i think once we actually have all the rules and can with confidence kind of do the math and lay the risks and the benefits for the various options that we have the answers are going to be different for for different scenarios different businesses we're not all going to you know the best decision for all of us is going to be different i think we kind of have the same situation with sarah's question here i heard we should be paying employees that are working that are working extra since the unemployment pay is so high in incentive to work this is going to be like the whole big topic there too that there's not one clear answer currently around that got a couple extra comments here um sarah says thanks for the work on this it's a lot for you too we appreciate it yeah i i agree especially tom's putting a lot of work into this and then sarah says that takes some of the pressure off i thought i had to figure out um by april first because that april first deadline that everybody's talking about right um make sure that you which i'm going to ask you about in just a second linda says one last question about copies of tax returns does form 4506 t cover that so that you do not have to send a copy sorry just a little confused we still have to upload a copy yes yeah you do have to upload a copy linda um back to the april first deadline tom what's that for i don't even remember okay the law that women that it's going to be going into a fact that requires us to be paying for fmla and for for for sick pay i think it was written april second but don fin who is a really great labor attorney who keeps up on all of the stuff came out with a paper that said actually april first is is kind of the effective date so if you're thinking about letting anybody go so you're not going to be liable for that you know you want to do that before april first and you want to do that march 31 which is a very special date and that's on tuesday tom's being funny because that's my birthday and his birthday is the next day april first april fools day nothing's anything about that either tom no no no so we always go back about that you know yeah and we have a 30 day grace period before we actually have to start complying with filling all of the paperwork and stuff out as it pertains to some of you know those benefits it's not clear to me though that we still might not be responsible for eventually paying that because you know i mean we might we might still if somebody comes in you know april second and says you know i need to apply for fmla because yada yada yada we might have we might have a few weeks to figure out how to do that but once we figure out how to do it we might have to pay them from the beginning we might not i don't know that's that's part of what we don't know have to believe that with all of the stuff that's coming out so quickly and when we have so many people that are intelligent putting a lot of effort and time into understanding it and still having so much confusion that i cannot believe that there is an expectation that this is just going to be smooth as silk and we're just going to find you if you haven't done this on the exact right date and you know it's hard to believe that that that i can you want to imagine that they have the manpower to be able to do some of that stuff how are they even going to make all this happen three point three million people filed for unemployment last week and the weekly record prior to that was less than 700 000 going back to the beginning of time so what is that like almost five times is is is is we beat the record by four and a half times so think about the mountains of paperwork think about the mountains of paperwork that the sba is going to be dealing with i mean mind boggles mind boggles yeah i think you guys said birthday wishes birthday wishes tom hey thank you yeah and uh we're happy to to be doing this uh it's even though it is everybody else is really appreciating it i i think you guys all know by now that the fastest way to learn about something is teach somebody else about it and while we're not technically teaching anybody about anything just knowing that you got to come on here every single day and share the best information uh that's really forcing us to look hard or pay better attention and to understand the information better so it there's a little bit of uh self-serving stuff going on here too win win yeah totally one win there uh thanks linda i i mean i i feel like it's just uh super super blessing to be able to give anything back i mean i i know i personally feel lucky to have tom to be able to figure all this stuff out and i'll tell you guys i'm the one that pushed him to do this he was like let's nobody's gonna count like oh you're so wrong you need to get on there you i mean nobody research is this stuff better than he does he can't get away from it you can't i i've stayed at his place with uh he and his wife before and this is his this is your life when nothing's going on six in the morning until 11 o'clock at night you're doing this stuff so i knew that you would be the person to do it until i'm just jumping on too yeah right sarah we need you guys well not so much me i'm just the the the hand gesture here but absolutely it's definitely tomorrow for sure sam will be here or not tomorrow sorry saturday yeah monday monday at five yeah monday through friday um sam wants to know how can we learn more about the stay at home um paid time off time in the bill there's a couple of links several links that i'll be posting can i can i show the website please also um the arxi link the donfin stuff that he sent out that's that's amazing too sam actually you have this information in the mma group in the growth mma group go there i already posted all the information you could ever want about that but um we'll be posting or show you some links we'll be posting um on our resource page just as cleaning business today over here if you haven't subscribed um if you guys want if you guys want to help help us out derek and me and and and liz just just subscribe to this because we just send out a newsletter and the more newsletters we send out uh just the more the more important um if you haven't read the article here on like some of the science behind what's going on with the coronavirus and how the chain of infection works and how what we do is cleaning companies using hygienic cleaning methods can break the chain of infection this is uh stuff you need to know and incorporate in your training if you go up here to the the website and go to coronavirus download thank you to our resources yesterday we uploaded um uh a word document that that liz uses when it's made to clean the technicians that that goes with their essential um here's a resource here this is uh some IRS information related to um how the paid leave tax credits work kind of that that that sam was asking i didn't know you put that up there that's good i like that um go ahead tom i'm sorry no that's fine and there's other links that that will be posting there over the next couple of days too we'll try to load that up and if anybody else has information that would be useful share it with us and we'll uh well we'll we'll we'll try to get that out to everybody too oops where are we oh no that's a good link though um tom i have a request on your tell it like it is segment on monday if you could give us some information about the rumor that's going around that there are these humongous finds for mentioning even mentioning just the word disinfect in your advertising or um on your website if you could felt like it is around some of that stuff that would be awesome the number i heard today was thirty thousand dollars that that was the fine you don't have to you don't have to give us the answer today you can tell us on sunday that'd be awesome i know you like to have the the real information and do your due diligence and i and i appreciate it and and you know all of that my this you think i have a gen my wife is is kind of the same way janice some of you know her um i'll ask her the question and just kind of plant the seed and a few hours later i've got like a paper that's giving me sources and references and studies and so yeah you guys are a power couple for sure all right well we're we're a little past the hour it's uh friday afternoon um give us your your weekend thing tom i always like it what should we do this weekend uh we uh need to get some rest take care of ourselves eat well this is uh this is stressful stuff and um you know what i mean one of the reasons that i enjoy doing this is that it it kind of relieves some of the stress doesn't it i mean we're all kind of in the discussion together and you know we're working this out together and we're gonna gonna be okay together so um enjoy the weekend we'll be back here yet five o'clock eastern sounds good everybody bye bye