Get ready for this: “I’m from the government, and I’m here to help.”
Here’s the deal: “I’m going to give you $20,833 today. I want you to give me $5,448 no later than two years from now. You can keep the $15,385 difference, tax-free—no strings.”
It’s true. The lucky recipient could be you. To obtain the full $15,385 tax-free cash result in this deal (one of many COVID-19-related assistance programs), you must
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be self-employed,
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have no employees, and
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have self-employment net profits of $100,000 or more.
If you are self-employed, you have no employees, and your net profits are
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$75,000, you pocket $11,538, tax-free.
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$50,000, you pocket $7,692, tax-free.
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$25,000, you pocket ... Log in to view full article.