Government Money on the Table for Small Business Owners

Empowering Small Businesses with the Sick Leave and Family Leave CreditThis week on Money in the Bank with Franck highlights a critical financial opportunity for self-employed individuals, featuring insights from Ryan Haider and Matt Craig of Lendesca. The often-overlooked Sick Leave and Family Leave Credit (SLFL) is a tax credit born from the CARES Act. With billions of dollars still unclaimed, this program offers a lifeline for self-employed individuals impacted by COVID-19 in 2021.COVID Money is Still on the TableThe COVID-19 pandemic amplified the financial challenges faced by small businesses and independent workers. For many, understanding eligibility for relief programs became a roadblock. This credit is particularly targeted at gig workers, contractors, and other self-employed professionals who faced significant income disruptions due to illness, caregiving responsibilities, or other pandemic-related constraints.Lendesca has simplified the process with a tech-driven platform. Their approach minimizes the traditionally complex IRS processes, allowing applicants to navigate eligibility quickly and securely. By leveraging IRS data directly through encrypted systems, Lendesca eliminates the guesswork, reducing risks of errors or fraud.Click this link to quickly check your eligibility! : https://setc.lendesca.com/application?refid=IC371How the Credit WorksThe Sick Leave and Family Leave Credit allows eligible individuals to amend their 2021 tax returns for a refundable credit. Depending on lost earnings and the number of affected days, qualified applicants could receive substantial refunds, up to $32,000. This is not a small deduction—it’s a direct cash refund that can be used for payroll, business expenses, or personal needs.Time is of the essence, as the window for amending 2021 tax returns closes in April 2024. Lendesca’s platform expedites this process, offering options for applicants to either receive their refund upfront through an advance or wait for the IRS to process their amended returns.Why don’t I know about this yet?Many CPAs are either unaware of this program or deem it too complex to manage for their clients. Lendesca steps in to bridge this gap, ensuring the self-employed community doesn’t miss out on funds that can significantly impact their livelihoods.Self-employed individuals—including Uber drivers, realtors, and freelancers—should act quickly to determine their eligibility. With approximately $44 billion still unallocated, the SLFL represents a tremendous opportunity for economic recovery at the grassroots level.How to ApplyThe application process begins by answering a few eligibility questions at Lendesca’s dedicated platform: https://setc.lendesca.com/application?refid=IC3718. From there, Lendesca handles the heavy lifting, retrieving IRS data and calculating the credit on behalf of applicants.This initiative underscores the importance of supporting the small business ecosystem and ensuring that available resources reach the people they were designed to help. If you are self-employed or know someone who could benefit from this program, don’t wait. Visit https://setc.lendesca.com/application?refid=IC3718 to take the first step.With the deadline fast approaching, now is the time to claim what’s rightfully yours. Share this information widely, and let’s ensure no small business owner or freelancer is left behind. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit franckcushner.substack.com