 Hi, good afternoon everybody Tom Stewart here with Liz Trotter. Hey, Liz. How are you? Hey? And what is today? Wednesday afternoon and day something another of the coronavirus Pandemic this unprecedented event. I'll just go ahead. Oh, wow You know we've been on for 20 seconds. I guess that's a record maybe That was pretty impressive. Hey Bridget Hello, okay, we have some new people on the on the facebook live here. It looks like today too so We we had a couple of pretty cool Facebook lives on the last couple of days. We had Joe Walsh on monday and he was telling us about some of the correspondence and discussions he had with the offices of his Of the US senators from his state of Maine and how they're working with like Marco Rubio and some other senators on extending the eight-week period for ppp Spending to 16 weeks Still hasn't become law yet. I don't even know if they've put forth a formal bill yet I haven't seen but You know, there's a lot of people that that have it on good authority that we're going to see That happen and actually become law before Before early june, I guess that first week of june has been some people's ppp funds run out and They want to get that in place before before that happens that there are funds run out but their eight-week period is over and That kind of turns upside down a lot of the different logic of you know, how to how to manage the ppp Fund so that's something we want to keep an eye on and we had Megan likes on yesterday and Um Megan is awesome. I mean she's a wealth of knowledge about All these sba programs and just accounting and numbers in in general that was a lot of fun If you missed either one of those you might want to go back and and and take a look there's a whole lot there to be learned and We were on such a roll yesterday that we kind of got swamped with questions and Did our best to keep But um, there were there were questions. I know there were questions that went unanswered and if We want to put any of those out there today We'll swing back around to it and do our best to make sure that we get everybody's questions answered Yeah, um, so I know there were quite a few of them. I am really sorry you guys I was trying but you saw Hey, you guys saw how There was just too much information Nobody was talking slowly yesterday on that facebook live. There was no wasted time or space So, uh, it was it was just tough um Tom i'm trying to pull up some of these questions from yesterday if you're wondering why i'm just like playing up with my phone on a facebook live Yeah, that's that's what I normally do when we're on these calls Or on these facebook lives. All right. I'm trying to pull up some um anybody so anybody have any questions right now about What's going on? What's new? Um, if not, what are you guys all doing coming back? I'm sorry Where's that little name is gone? Hey starling Good to see you Fine to find my page here I can go ahead and share Something that we discussed earlier this week. Um, we were talking about various Calculators to manage the ppp loan program and this one, uh, joe mentioned on monday and we've been using that Here is as well and It's a really good. It's a really good calculator. I've given Kyle several options and this seems to be his go-to win and they just recently updated it on the 18th After the release of uh, some of the guidance that came out over the weekend So i'll take this link and i'll put this on the uh resource page of cleaning business today, but If you click maybe pull that up to tom I can try There's a download here somewhere. I promise you i've done it Oh, here you go. Oh Here you go so It's got your schedule a and it this looks a little bit more like the Look the form from the sba doesn't it? Yeah Which that was um, what was it megan or i can't remember now joe Well, yeah, this is this is These guys this this this this firm. I think they're out of massachusetts We've been using their calculator for several weeks But this is new the calculator that was out there before the 18th looked completely different And look this says it was updated as recently as today Oh, wow. Okay. Well joe did say that this one is linked up to work with Uh, what is schedule a That that we have to fill in so that that was You know what convinced me that this is a a great one to be using We've got the schedule a right here on the tab nice And look at it. It really does look very very similar to the calculator doesn't it so you know Maybe in a in a subsequent facebook live Not today because I need to spend a little time with this myself, but you know, maybe we could spend more time in this and do a deep dive and You know, this is this is completely different A new deal from what was out there last week Yeah But uh, if you want to download it, I just put the link there in the chat I do feel like every time we turn around where as you know, I I shouldn't say that Every time we turned around everything was changing for a while for a week And then we kind of had a little lull like three weeks and not much happened You know, not a lot of changes people were getting their ppp people were getting their idle monies And not much was really changing and then bam again friday Friday hit and then we got more info on saturday got a little bit more info on monday Here we are wednesday. I haven't seen anything new since monday But I actually haven't been looking either. So I feel like we're here. We are again being Just battled around uh more stuff happening and more more changes well one piece of information that that Megan shared yesterday that You know, I was oblivious to is the prospect of more idle funds showing up and You know, if you're entitled and and many of us who've been getting idle funds here recently Are really kind of taking a haircut. We were entitled to more, but they're kind of capping it at 150 that the belief is if You can go back for more now if you've already signed your agreement and gotten funds how you do that is is a little Little questionable. We don't don't you know goes in that category We don't know how that would work, but technically we should should be able to request more funds But it was Megan's Advice that if you can afford to to hold out even if you've gotten your portal Kind of slow walk that and you've got like 30 days to log into your portal so You know don't wait till day 30 But you can wait a couple of weeks before you even log in and after you do that I think she said you've got another 60 days once you're into your portal until you have to actually execute your remits on the contract so Walk that with the hope that more idle funds become available in which case you can go back and say man This 150 is not going to cut it. I need I need more Yeah, I thought that was a great idea too late for me, but um, you know, I've already signed everything and done, but Yeah, I mean I was I was on that in five minutes bang I'll read the contract later Totally what I did But you know another side of that is Our hr expert that we've been working with it has told us that There's an opportunity if you Have any reason why you think you might be entitled to more BP money you can go back and ask for that And I know at least one person That has already accepted their ppp been spending it for two weeks now And is going in and saying hey Um, I didn't I just was in a hurry. This thing came out so fast I signed it. I did the I did everything But I just pushed it through as fast as I could I didn't I didn't even pay attention to some of the details and his bank is shoving through another ppp for him For the second uh, he's k1. He's like, I didn't know that I could Um claim my k1 on there. I didn't know that I and we had another thing too. There was something else Anyway, it looks like he's gonna get you know another 60 grand or so That's center us to take take a look at that. Yeah, um And I know that we've had some discussions over the last couple, you know last last number of weeks about Now the opportunities to to acquire accounts from competitors So I wonder if you Did that if you could go back and say hey, you know, I have the opportunity to hire Twice as many people as I had before because I you know bought a competitor But I can't do it without more ppp money Yeah, if you can make an argument that you're creating jobs and I'm making this up I don't know if they would you know, what kind of documentation we need but That would be an argument that would be a discussion worth having I would think Absolutely, I hadn't even thought of that but I I bet that's gonna get you a little bit My thinking is if they're going to do it for one person, they're going to do it for more people Right, there's an opportunity out there and it sounds like when he first Went to his bank. They're like what no the ppp. No, uh, that's not the way it works And when he explained his side, they're like, oh Okay, yeah, let me see what I can do. Let me get you another application and let's let's work that out So I'm just thinking that that opens up a whole a whole world of in his case He already had funds dispersed. So they already ppp money in his bank account Yeah And his thing was he was gonna run out He was gonna run out on like the seventh week. I think he said might have said six week Anyway, he was gonna run out. I'm assuming his eight week window is all still that that didn't Yeah, no, it didn't change. He's still in it No, um The idea of going from eight weeks to 16 weeks and the ability to kind of shift that window around a little bit And we had some discussions yesterday where we're Megan Things and Joe mentioned this on a Monday as well that it's not out of the question that We might be able to get more ppp funds as part of You know extending the the time period They're going to be giving us we we hope they're going to be giving us to to spend those funds Well, and I was looking over it again after talking with Megan Yesterday and it looks like even though our funds are You know, actually it's an eight week coverage, right It actually can be up to 10 weeks the way it's written because it's written In and not or it says that you can collect the money on the or pay the money on the front side so The example we're using like is if you got your money deposited on on april 30th Then payday is on may 1st if you pay on may 1st that is It's when the the monies were the the debt was incurred when when you The the people earned the money, right is not actually when you got the money Bases versus a cruel base accounting there letting you right flavor you want to use No the way it's saying though I read it again. It says that you can do this And you can do this on the other end. So on may 1st you can pay for Out the hours that have already been accrued and on the back side you can Move your pay up to account for So in essence, you're making your eight week window bigger than eight weeks 10 weeks Which is what which is what our HR person was saying is conceivably right now They're telling you it's an eight week window, but it could conceivably be 10 weeks of payroll So a payroll fund. I'm like wow, okay, but that's why some people are also running out a little bit early too When we had that discussion a few weeks ago the guidance or at least the the pervasive thought was It works the same way as the internal revenue service treats your income like on a cat most cash basis You get your funds on wednesday if your first payroll is two days after that then tough luck. That's one of your you know Eight week payrolls even though that work was done prior to even you know getting the money So and Megan was saying the same thing. Just remember she was saying just pick one Whichever one you're going to use pick that and so you'll either get it on the front or you'll get it on the back You'll get one one of the Right one or the other But the way it's actually written doesn't mean anything the way it's written right and tomorrow could be written differently But the way it's written today is you can do this and you can do this so I guess the question is What do you have to lose by putting forth the 10 week and the bank says no we really can't do it that way well, you know, well Okay All they're gonna say is They're not saying that we can't do anything. All they're saying is that part's not forgiven We're only gonna forgive this amount. Well, you still had to pay it one way or the other So if it was still legitimate hours that you were paying for it wasn't Something that you were you know people sitting at home And you're paying them But if it was money revenue coming in to cover that you've lost nothing by reporting that Megan made a really good point though and and and this comes from an informed perspective because she's been working with banks She's actually volunteering her time training uh people in the banks on on on How these programs work they're gonna do it But more than likely you're going to be working with an administrative assistant that doesn't anything understand anything about a payroll or a small business or any of this so The simpler you can make it and keep it The easier it's going to be to to to get through that process. So You know, it's what actually made me go back to read it time because Megan said that Megan said we're going to be working with an administrative assistant Who doesn't know anything about payroll has never owned a business etc And they're just being trained what to look for on this form And what they're going to be looking for is that eight week date and the The way it's written currently is It's those paid dates the days that you pay so you can pay monies So that have not that that were earned outside of the eight week and You can pay early Uh, you don't have to have that week flex or whatever on the on the other now. You can't pay You can't pay in advance. So on the on the back side You can't pay on june 30th for monies that they're going to earn in july you can't do that but if June 30 is the last day of your 56 day window and this is the other thing that that Megan said Think of it in terms of days rather than eight weeks. So What eight times seven is 56 56 days Yeah, and If somebody worked on day 56, you can pay them for that right there that day Yeah Yep on that day And then we were talking about the 56 days because I think it was making it a lot easier for people that got funded on saturdays and sundays Because they were starting their money on monday. No, no, no, no It's the 56 days, which is super helpful It's if you got if you have funded on a monday Nobody's having trouble with that math, right? It's eight weeks and easy But people that got funded like on saturdays and sundays is unmasked up There there was another change that I really Oh, I know the other change was around The 1923 and the 1900 dollars and 23 cents that people were assuming that they could automatically pay themselves each week and You know Megan explained that math is not it's not 1923. Everybody was doing that on a hundred thousand dollar Year max, right? But they're not doing it that way. They're doing it on your 2019 So that's a completely different number for a lot of people out there For most of the people that I know anyway, it's a much You can't necessarily give yourself a big raise for the state week period No, you can't I think they megan didn't megan say no more than 25 percent right Yeah To be safe no more than 25 percent But in my mind that kind of falls under if you're paying yourself and if the bank says no We're not going to be able to give you all of that. I guess the question is would they at least give you What you know you made in 2019 In which case you really aren't any worse off anyway because you are paying yourself And it's just your own money if if you want to give it back You don't want to keep that as a one percent loan well then Just give it back And so that that doesn't really hurt you. It's just you're not going to get as much forgiven But again, it's like you're not going to get as much free money You're just going to get some free money just a lot You're just going to get a lot of free money. That's all It's funny how the money works. You know the whole you know aversion to loss and oh my gosh I can't get as much free money as I thought I was getting So now I'm so disappointed And it's funny because and you find yourself thinking that Even while you're reminding yourself. Yeah, but it's free money. I know but So it's just an odd thing Hey, Linda. Good to see you. What's up with you today? We have very many people on the on the facebook live today Not yet I think people were Worn out with all the information that megan gave them yesterday. Where were you going? Were you gonna be able to send me a link to No So, uh, she is not wanting to Announce until tomorrow once you get set on her website Got you well come back tomorrow. We got something pretty cool to share with you But we can't tell you about it now because it's secret Hey, leslie Yeah, we got it. We got a secret cool thing though that happened uh to somebody somebody in my mma group and uh Yeah, she's gonna share tomorrow, which will be really really fun. Hey, great. Oh, alice and a lot of people here I guess well, we just can't see you guys if you don't comment. Hey, alina We had to suffer for that free money. Yeah, I'll give you that alina yeah It wasn't just uh easy for it wasn't falling from the sky like manna from heaven, right? We did have to work a little bit for it But i'm a froland, but you know, i'm surprised at how hard i'll work for free money In a relative sense though, I think most of us have worked a lot harder And had less to show for it That's the truth too, Tom. That is absolutely the truth You know, i was thinking about some of the some like projects we've done over the years and Like the lack of sleep and just all of you know, I mean just You know the heavy lifts and at the end of it, you know, we wound up making you know What seemed to be good money and it was good money. It is good money, but in a relative sense, it's like Wow, we're cleaning out. It wasn't free Really wasn't free money. No, we're very hard for that. But now we're we're we're cleaning homes with relatively no cost of good sold for the next few weeks that's uh In a relative sense that is easy money, isn't it? Leslie's wanting to know where Molly is again Um Yeah, and megan didn't like us saying free. She wanted to remind us that we're still paying the taxes on that money too So it's not 100 free. Don't get sucked into that that thinking Okay, megan I took that to heart as well So she shared a lot on that facebook live yesterday. My brain was like Okay, I gotta absorb everything is molly at home Yeah, molly was here earlier janice was here. We were uh finishing up some of the the last parts for um The phc professional house cleaner program and uh, we were shooting some video and we had molly here But janice left and and took her with her Yay for both of them, right? Yeah Yeah, the break it's not hard on the little girl when you guys are busy She got under the wheel of my chair yesterday Nothing there in here. She lost it. You know how I knew there was a little clump of hair on the Astores, but she didn't yell Oh Probably but she helps all the time for various reasons like when I'm trying to sleep at night Oh, yeah, she's in her crate Well, leslie don't worry. It sounds like she didn't get hurt too bad. She's fine. She's fine. She didn't get hurt at all These are resilient and you know how they like get under your feet. It's like, you know, we're gonna step on her a few times she gets Kind of around with your feet when you're trying not to fall. I feel so bad Luckily, she's a little bit bigger. So it's not as hard. I think she's more in your it's when they're tiny or it's even worse Oh goodness so Uh, so what else what else are you guys doing? Anybody get any money? I know somebody that just got their idle money today Anybody here on the facebook live get any idle money or ppp funds? anybody Well, looking forward to that hearing about it everybody already Yeah, everybody's all got their money. They're all spending it. They're all doing all their fun stuff already, uh Well, you guys we can always shut down the facebook live early today if nobody has any Questions or anything? We thought you guys would have a lot of questions after mega yesterday because we were drawing in them yesterday where We weren't able to answer them all Okay, greg says is it better to spend more than the ppp loan and submit all of these approved expenses to ensure 100% is forgiven well I mean if you're spending monies on Things that you would normally be spending money on Anyway, what do you have to lose but say this is the money that I spent over that period of time And I think that it all meets the criteria and if you're getting some negotiation with that administrative assistant from the bank that Megan was telling us about yesterday then, you know, maybe maybe some of it gets negotiated away What I'd be careful about though is Spending money that you normally wouldn't be spending thinking that It's ppp money that's going to be forgiven and one being wrong that would that would be unfortunate Because it would be really sad to not get the benefit of the ppp money Right and just sort of end up back in the same place. That would be sad Wouldn't be the worst case scenario But it it wouldn't be the happiest of times either Tom Debbie wants to know why why should we apply for the idol? Why if you don't need the money or Is there is there a reason to do it? She's already got her ppp Well at the moment unless you're doing something in agriculture I don't think that you can apply for it if you haven't already but the thinking is That there'll be some more funds out there. That was what Megan was sharing with us in which case We can all jump back in again Even if you got your monies if you didn't get all of them you could could could request more and I guess I guess my answer to that is You know, we don't know what we don't know yet And it's better to have it and not need it than needed and not have it And it's really cheap money and it's meant to be a bridge loan You pay it back over 30 years. You can pay it all back at one time if you want but It's 3.75 interest I don't think interest or first payment even comes up till what the first year Year, which is what I was going to say debbie is it is literally Free to hold on to for a year. There is no There's nothing so just for a security blanket That's that's the main reason why I want to really have that that money I I just really like having that cushion like Tom said it is a what kind of an event y'all unprecedented Right, we don't know. I mean we all kind of feel like okay. Things are things are cleaning up They're opening up again. Everything's looking good, but We don't know we don't know where this is going to take us and the the financial stability of the country Is funky to y'all It's just there's a lot of money going out in ways that it has never gone out before Even the experts don't know, you know, how how am I going to know what's going to Be happening any year? How is Tom going to know? How are you going to know debbie? That's why we're I'm recommending and take the money and be safe and there's an aversion to or you know, all right there's a lot of things said and written about debt and you know the whole idea of being you know debt free is is You know from a personal standpoint from personal, you know, how you Spend your personal money and how you lead your personal life. Certainly. You don't want to be spending beyond your means you don't want to be using credit cards to finance In you know recreational activities and discretionary whatever that you really can't afford and In my mind that's really at the heart of you know being being debt-free is about from a business perspective You know most large businesses publicly traded companies all of them not almost all of them Even companies that you know have more money They know what to do with still go out and borrow money on top of it just Because they can at really low interest rates and it gives them even that much more of a buffer security blanket if you will and What's happening here with this unprecedented event is Not because we were bad managers not because we were Spending more money than we were making and making you know bad business decisions This is this is a natural disaster and this is what the sba. You know, they're they're treating it. That's what economic What's the idl stand for economic Injury disaster loan economic injury disaster loan Think about that disaster. This is no different than you know hurricane or flood or you know, you know Most of us were doing everything right the way we were supposed to and bam this You know disaster hit us. So that's That's a very valid reason for for her taking out a loan especially one that you can pay back over 30 years because You know if your business qualified for that idl loan You you should have more than enough free cash flow to pay that off a little bit at a time over the next 30 years plus We're not personally guaranteeing it So worst case scenario a year from now you kind of get to the point and it's like, you know, this business isn't working I'm going to have to shut it down And then you know, I don't I don't think any of us are personally on the hook for that. Am I correct in my thinking? Yeah, that's what everybody's saying. That's what we're hearing tom. So I'll we talk to your accountant about that again to to to make understand, you know 100 sure but And really even that doesn't matter it might not be written yet. It's not written in stone, right? What what's what's out there right now is changing. We know it's changing within the next two weeks for sure So knowing that Okay, you make make decisions based on that but Another thing that I wanted to say debbie is Even if you don't want to have any debt at all It might be a smart move to have that money sitting in the bank Just because you don't know what's going to happen Hopefully in a year in one year, you'll have a better sense of what's going to happen If in a year you determine. Yeah, you know what? I really didn't need this money return it You just return the money and there's no penalty Right. That's what I heard no penalty Alayna The question about you know, does interest start occurring from day one? even though you're not making your first payment for for a year a lot of Notes work that way that you might not need to you might not be asked to make a payment until x number of months in the future But interest starts occurring at the beginning Alayna, I guess we can share what what we learned yesterday what um, Megan shared with us. She said that The interest least I thought I heard her say that the interest doesn't even start accruing until the end of year one He said 11 months Megan said 11 months so I mean to me that just seems like It really is just a little pillow that you have in your account if you don't touch it There I can't see even one reason not to not to apply for it Uh, and hold on to it at least for those 11 months. I mean at a minimum those 11 months Okay, so we do have some questions here too Tom linda wants to know was it determined yes or no on workers comp being part of the ppp forgiveness We saw More than one article. I think we posted we've actually posted one in the cleaning business today resources That specifically said I think it was from from cabbage in their roles and they said workers comp. No, it's not part of You know it cannot be treated as ppp funds That being said You know, I don't know what's in this spreadsheet that we just looked at and we don't know what changes might be coming when they go from You know assuming they go from an eight week window to a 16 week window The other part 12 so And it's not going to change your business thinking You're not going to not hire somebody or not give somebody hours because of the workers Comp component anyway, so that kind of falls under the category of I'm not even going to worry about that I'm just going to go ahead and try to clean as many houses as we can and use the money the way you know pay people and the way that we normally would and At the end of whatever number of weeks that we have we'll sit down with with with a bank or An administrative sister or somebody I don't know and we'll figure that part out and fill out our form and That it will be what it is. It's not that you're not going to be spending that money anyway So it's just whether or not it gets forgiven. So it's kind of a non issue It just doesn't matter one way or the other. All right. So leslie has a weird one tom She has an employee that turned out work and training So leslie assumed that she quit now the employee says she is scared and she felt like she was forced to quit So is she going to get any flak for this? Like I'm not sure what you mean by flak leslie. Um, what I would say on this one is good news is She is you've got it in writing that she quit regardless of if she felt forced to quit or not She said she was scared and that she quit So it's not going to impact your number, which is good, right your ftd number and then as far as Getting flak I'm guessing that you mean unemployment flak So if you're thinking unemployment flak um Doesn't sound like any of us are going to be getting any kind of unemployment flak for a while. I mean we're all gonna Big picture all going to end up taking the brunt for it But individual companies don't sound like they're going to be is that how you're reading what you're saying to tom Could be I guess, you know another dimension of flak could be some type of e e o c claim that you know, she was Coerced and forced out I'm sure that wasn't the case, but that doesn't prevent people from claiming whatever they want to claim I would take you know all the documentation in terms of any correspondence that she's sent you and make sure that's in a safe place And write your own notes in terms of how it went down She wants to stay on unemployment denies quitting just doesn't want to work I guess as a state by state thing the federal law says if you know being afraid is not a reason not But there's some states. I think texas is Employee-friendly as texas is I think at least somewhere on one of these calls we somebody mentioned that texas um Will allow you to continue to take your your unemployment if you claim So I would check in this, you know, I guess, you know, we check and see what how california rules on that You need to because it it's not really your business once she's already quit. How's that going to come back on leslie? um I guess it's a matter of she's still drawing unemployment at some point will that come back on her loss run and will leslie be paying Is that across the country is that state by state? That's across the country. It's not supposed to Not supposed to be able to okay, so we'll all be playing A whole lot more for unemployment insurance, but it's all in one big pool. So it doesn't matter Yeah, things anyone individual That's right. Your company isn't going to be penalized more because your employees did something worse than this other company. We're all going to be like raised together The the the big thing if we offer somebody their job and if they Don't accept it for for whatever reason if you can get some type of Confirmation from them in writing that they're not going to be returning that, you know, you they're not going to be accepting your offer. That's Ideal at the very least Send them some correspondence Asking them to respond within some amount of time and you can put that in the file just showing that You know, this is what I did and they never responded. So you I He did respond. She said she's not coming back. She was here in this case. That's uh That's ideal. Yeah, I'll win. All right. We got a question here from Beatriz. This was my question yesterday She is an LLC self-employed. She received four weeks of unemployment insurance retroactively for april She didn't make any money On on macex on macex is when she got it the next day. She received her ppp money She claimed the ppp immediately on her weekly ui report. I'm back at work now. What do I do with the ppp money? I'm afraid to touch it manage instantly send this as a Not understanding that last line But other than that I think this is kind of straightforward your unemployment money You got paid for the period of time that you are unemployed Now you're done with that. Hopefully you're off of unemployment if that's what i'm reading here You're off of unemployment now and now your ppp will pick in I feel like it's pretty straightforward here that it's You're probably just nervous Beatriz because you're like, I don't want to double dip Just don't so make sure that you're off of your unemployment Make sure that you know your dates and then pay yourself through your ppp Yeah, you don't Taking unemployment while you're giving yourself a paycheck at the same time. That's Could get you in trouble Yeah, that's the double dipping that we're talking about don't do that So just make sure that your unemployment is canceled and that you're done and then the next day you can start Giving yourself pay through your company again. Your ppp will will cover that All right amber my idea my oh my idol is pending approval. Yay Good job amber. I'm excited for you Uh debbie. Oh look at this debbie says the sba asked her if she wanted to She was the one asking why should I tell me why should I apply for an idol? The sba asked you did they reach out to you debbie and asked you if you wanted to apply I would be I would be careful about that because I'm Oh the scams, huh? Yeah, I would You know unless you'd had some previous correspondence or some discussions and you knew for sure who you were dealing with that You know, especially if they're saying all you need to do is give me You know your bank account information and a few other you know piece of confidential thing and we'll put money in your bank I don't know That that might might not be Legit, you know what I did debbie. I and I didn't do this I came to me an article the top 10 COVID-19 scams And I think something along those lines was one of them sba reaching out to you and asked me I totally forgot about it already. I hope they don't try to get me. Apparently I'm a mark So but you might you might do a search on that, you know top 10 COVID-19 scams. I That was an article. Hey denny. Good to see you Okay, greg's got a question here, tom Rosemary got her unemployment check deposited yesterday Although today she got an email from the state saying that her social security member name and address were available on their website For a while and that we might want to lock down our credit I temporarily removed freezes with the three agencies to allow the sba to look at my information for the idle loan Thank you, ohio for making our life more difficult Yeah That's so You know the type of stuff happens I mean unfortunately, it's not in common you know Banks umpromised, you know companies get come. I mean, it's just you know People have our people have our personal information that shouldn't have it. That's pretty much a done deal. I do I do freeze my credit reports and That's an aggravation too, especially now because I froze them. I had to unfreeze them for the the sba loans and Some of it got tangled up and they said they were still frozen and I don't know and I got it I'm frozen and then we went around and around and around eventually got it worked out, but It's an aggravation, but I'm kind of paranoid when it comes to stuff like that I'm more paranoid since I met Tom, but Elena wants to know owner compensation is part of ppp forgiveness, correct? Okay, you mentioned you talked about that earlier less we learned about But Megan gave us a little bit of more information. What did she say? She gave us something new yesterday. Didn't she I guess it um It was talking about historically how much you were making and we'll go back to 2019 and look at what your your your compensation was you can't You know if you typically you're paying your yourself You know 50,000 a year. You can't give yourself a hundred percent raise for this eight week period Can't take yourself up to so we've heard a lot about that hundred thousand dollar cap, right? But you can't take yourself up to that hundred thousand dollar cap if you weren't making 75 grand before she said 25 you know and a lot of A lot of us business owners will pay ourselves a modest salary and take the rest of the financial benefit, you know on our k1 as a dividend and She said this is one of those examples of where you're hurting yourself because none of the k1 funds The way that it's currently written her interpretation would be counted towards Towards your compensation So you'd be limited to be to paying yourself what you are historically paying yourself on a whatever period of time You were paying yourself prior to all of this 2019. I believe is what she said Yeah, she did Okay, let's see. Oh leslie saying she wants to stay on unemployment. She's a nice quitting just doesn't want to work now Okay, that's actually easier right Tom. Yeah That's now you employment when your job's available to you typically is an option if presuming that you let the unemployment security commission in your state know that She declined your offer to come back to work And she doesn't have to quit so I can't remember who gave us this information One of the experts gave us this information though that you give the written you give the written Offer of when they have to come back you give them the terms can't be anything less Then they were making before you can't give them less hours less money anything like that if they refuse then I'm just like tom said if they don't respond Then you can send them the certified letter if they refuse and say that they're not coming back But they don't want to quit that's fine. You you might want to just as a nice person to tell them You understand And you have the option you can either let them go at that point Or you can tell them that their job will still be available for them when they're not scared But but you still have options The the main thing here is you don't have to work This again is like a good position for you to be in because it doesn't affect your FTE numbers Don't know why I keep doing this. I guess because everything keeps changing. Yeah But your it doesn't affect your she won't go against your FTE number and she's also not Not hurting you in any way. She's she Layed it out clearly for you of what what she's doing. So Hey, I don't know. It's kind of a win Leslie, you know, it probably doesn't feel like a win I think the big thing here is we got to kind of be careful and not to get tied up in our own shoelaces It feels wrong It's like No, you can't collect unemployment. You're just wanting to take advantage of the system I've got work for you and you're trying to take the government money and do nothing. So we're We're making it like We we think they're not right and they're wrong and that might not be your case Leslie But that's what's happening to a lot of us. I know we're getting Tied up in our own shoelaces, but the law is pretty clear and it's pretty easy about how we move forward and I would say you're actually in a good position. Your company is anyway We all have to do a gut check and make these decisions based upon you know, our own values and how we want to run our company, but For when you're trying to sort some of this stuff out least in my mind From doing what the law is telling me I'm supposed to be doing that's usually a pretty safe place to be And there are some people too On the flip side of that Let's say you have a really great employee that you really love And you know, she has high anxiety and you know, this is really stressing her out and she just Can't work. She just really really can't Are there options? Is there work that you can give her from her home? so Maybe or maybe you can just allow her to be on unemployment and then offer her the job when she comes back I don't know. I know somebody that's doing that. I know somebody that employees said hey Um, I think we are not supposed to be open. We're not we're not considered essential you're misinterpreting the governor's orders and I'm going to turn you in unless you put me on unemployment And she was so caught off guard that she said, you know, I just why don't you just take a paid two-week vacation? And you know, we just won't talk about this again All right. Well, that's I guess that's a that's a strategy so She was really concerned that all of her employees were going to come Looking for a paid two-week vacation, but apparently that didn't happen. So Everybody's doing what they think Makes the most sense and how how to make it work for them. So I would never thought of that that that wouldn't have been my solution, but it seemed to work for her You know, I guess it's a human side of this. I mean, I suspect there are some people that truly have a phobia about Being exposed to a pathogen Absolutely You're not going to convince me that that some people aren't truly afraid because They're I know somebody who I would consider to be a real manly man and he's afraid of pictures of dust mites You read my mom It's not me Not Tom, but I mean People are people are afraid of what they're afraid of it is what it is right? Look at the people that are afraid of spiders That's the afraid of spiders or you know clowns mice, whatever I'm okay. So we have another question. I had to do it Tom had to Okay, okay. Thanks. I thought I had to return. Oh, no, you don't have to return your ppp Beatrice. You're good there Yes, you I canceled immediately. This is also confusing. You know what Beatrice? We're all over that we agree and that's why we're on these calls and that's why we keep bringing on all these experts Because we all need the guidance. We all need the help and you heard Megan yesterday frustrated too, right? She's like I'm one of the experts and I don't even know all this stuff But you know, she does know she knows that over the next couple of weeks a lot of what we believe Is going to be or is is going to change substantially But she's gonna have to read All those pages again after they've been changed even though she's read them a dozen times over the last You know a couple of months Yeah And she did tell us not to get too Too wedded to this information because it's going to be changing facts All right. So Debbie has a question here Tom. I am a sole prop and I don't pay myself I get unemployment insurance. Can I stay on unemployment insurance if I have ppp? As long as you are taking a paycheck This falls under the category of You know, you might want to check with your you know accountants or Even talk to somebody at the unemployment office and just explain your situation and ask for Guidance, I mean there's Are you are you working? Are you generating revenue? And if so That would kind of imply that the internal revenue service would expect you as an owner to be taking Some type of compensation in some way if you're actively working in the business, I guess It would you know, I guess it just depends upon on a lot of details And if you're using your ppp money On your and yeah, I don't know that this one's tricky for me. I feel like it should be easy Look, it's only two lines and three letters Seems like it should be easy That's a trickier one. Debbie. That's a good question. Debbie Generating any revenue or you know, are you not working? I guess I mean it's possible to have the ppp money Setting over here in a bank and you're not working. You're unemployed. So Yeah, but you're not using any of that ppp money either so At the At the end of You know, no, you might wind up going back to work next week and maybe hiring some people and which case all that's good But as long as you aren't working and aren't paying yourself anything or Having Yeah, so I guess that depends on the detail still shut down. Yeah, you're good. Just leave the money in the bank And hopefully you open up soon and if you do hopefully you still have some weeks left on your window where you can put it to work Hopefully they extend this it might end up working out really well for you. Debbie might end up working out really really nicely for you They might open up right about the same time that they extend the monies for you and you might be able to start spending that Um, let's see linda. It feels weird watching my ppp checking account money slowly disappear Why I don't want my money to go away Spending that ppp money, but doesn't it feel even weirder to be paying all of these people And your operations account isn't getting smaller Doesn't that feel weird? if your pp Getting smaller at a slower rate than the monies that are accumulating in your operating account then That's good. You're making money Now if your ppp money is going away and you don't have money showing up at greater amounts in your other accounts then That's not good. Yeah, you gotta figure you gotta figure out why but if you're spending that one of those calculators Pull up one of those calculators that we keep linking to and fill fill one of those in if that's happening But I doubt that's happening. Yeah, we need to Use a solid operator what's going on but If you're if you're spending that money on payroll and the people are that are getting those paychecks or Cleaning homes and generating revenue then odds are pretty good. You're making making a lot of money We're we're we're into the five minute warning. Yeah cleaning business today. Let's show that site. It will be nice and Modern cleaning And so there we go clean business If you haven't subscribed it is awesomely easy If you know your email address and if you know your first name and if you know your last name and I'm kidding We all know these things. That's why that's my point. It couldn't be easier Free but you get the newsletters and any other updates that that that we we publish and You know, you get updates on all the new articles that are heading and We got our super secret Coronavirus downloads page. That's kind of the secret between us that do smart business moves And the older stuff here is at the top and this goes back to when we started when we start doing what year did we start doing these lists? Yeah, it does feel like it's been a while And we'll link to that most recent Calculator with all the updates in it here. So that'll it'll be out there tomorrow Um, you know what we don't have the updated ppp information from friday, do we? Oh No, we don't The guidance Yeah, I think I don't think so. I think that's like last wednesday was last one Here's the one published from the 13th last wednesday Yeah Yep, that's the last one. Okay. Well I didn't have anything to do tomorrow anyway, so we'll get all that Funny funny funny All right, just real quick town. We don't have time today Two classes. We think all these people on this call. I'll know about it anyway So sorry for wasting your time. We just give quick We really want to make sure that everybody's getting these that can you guys The COVID-19 course it was on professional house cleaners again today. Um, angela asked about it um, just because She wants to make sure people are taking you know, we're all kind of in the same boat trying to professionalize the industry Is fast and doing this opportunity, right? This is such a great opportunity for all of us. So COVID-19 on the left and uh, phc on the right a professional house cleaner that one is Think kind of like the HCT program But designed for For your cleaning professionals versus Being designed for the owners That'd be the the big difference there Okay, everything's on this page guys pricing everything. Oh, oh one thing for people that already signed up before I've already done it Good news We have a new platform and how it's going to work now is You're going to be in charge of the platform. So you'll be responsible for seeing who Get getting it out there making sure that people take it seeing who took it who's completed it All that gets going to have complete access your own little dashboard I love that. I'm so excited about that Yeah, it's going to be awesome Yeah All righty three o'clock straight up. We're good Tom. I don't know. We ever even done this before I don't know but There's always a chance that somebody can ask us one last question here that would put us into overtime No, that's the last thing we want. Come on. Tom. Let's do it Okay We're done. Thank you. We will see you tomorrow Five o'clock eastern you guys. I have a good rest of your day. Be safe. Bye. Bye. Bye y'all