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Letters: A One Time Gift From The Government
A reader writes in about unemployment assistance
April 6, 2020

T
here are many unemployed at area businesses due to the COVID-19 coronavirus. A reader writes in about assistance that may be available:

I’ve read recently about “go fund me” accounts established to help those out of work. Currently, under the circumstances, there are many out of work staff, workers, servers, clerks, teachers, etc, currently unemployed, due to no fault of their own all throughout our Pamlico County.

Under the CARES Act, signed last week by the President, and for the very first time, any worker who applies for unemployment assistance in the USA and of course in NC State guidelines as well, if they qualify, and please note, I am not giving legal or tax advice here, can receive their benefit for NC unemployment if they so qualify, PLUS a flat up to $600.00 per week for at least 8 weeks if unemployed that long. Average of $800-$950 /week.

Any business, being a business under 500 employees, can also apply for Federal PPP assistance where the owner can get a SBA loan, 100 % guaranteed and forgiven 100% by the SBA from our local banks, and never have to pay it back, if the business pays the employee their wages and pay and keeps their jobs.

We at the Masters, LLC. Wealth Management Group, a local business who remains Open For Business, will be more than willing to assist any unemployed individual in our County at no charge, 100% complimentary to help an individual to get their benefits. We are here to help anyone who needs assistance with their paperwork.

Let’s keep the “go fund me” type accounts for those in dire financial straights with an illness or unforeseen medical bills or immediate food needs.

This one time gift from the government really and truly is a one time gift.

Thank you and stay safe.

Regards,

Gary C Mastrodonato
Oriental, NC
April 6, 2020

Gary C Mastrodonato, The Masters, LLC. Wealth Management Group are not a licensed tax or legal professional, and in no way is this letter, meant in any way, to give tax or legal advice.

Editor’s note: Forbes has an article outlining the CARES Act.


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