Sidekick Services / Paid Newsletter FAQs

How many newsletters will I get?

12 - 20 each year.

One, at the beginning of each month, with the important due dates, helpful links, and tools. Sometimes, you may receive an extra newsletter, if it pertains to a timely + specific topic. For instance, opportunities - like the PPP Loan, or if there are important changes with tax + licensing rules or procedures.

What will be included, specifically?

  • Reminders for Due Dates - for taxes, license renewal, and LLC / PLLC renewal.

  • Links to how-to articles, walkthroughs, or information.

  • Handy tools + worksheets to make biz chores easier.
    And

  • Planned for 2022: more tools for tending your Money Garden and being Happy at Work.

  • Topics cover:

IRS Taxes - Filing and Prep
Sending in Estimated Quarterly Payments to the IRS
WA State Taxes
King County Taxes
Seattle Taxes
+
Renewing PLLC / LLC
Renewing Seattle License
+ More

What does the newsletter cost?

There is a monthly fee for the newsletter. You can choose what you’d like to pay, based on your situation and how you feel. Suggested prices:
$15 - I’m new to business / on a strict budget
$20 - I want to pay the Suggested amount
$25 - I’m thriving and want to send some love back your way
$26+ (custom amount) - You have saved my life! I want to show a huge gratitude!

How many months is something due?

5 - 9 months, depending on your situation.
If you file Annually with WA State, you’ll have things due 5 - 7 months out of the year.
If you file Quarterly with WA State, you’ll have things due 7 - 9 months out of the year.

Why am I paying you monthly, if some months there is nothing due?

Three Reasons:
1 ) It’s helpful to know when nothing is due, so you can have peace of mind.
2 ) Some months you’ll be receiving a LOT of content and forms. Others are very light. Your monthly fee reflects the average value.
3) Providing regular payments, helps me to be building materials for you year-round.

Also, the months in between are a great time to rest from biz chores, to refine systems, or to work on being Happier in your job. Sometimes I will provide tools or articles related to this other work.

Is there a bonus for signing up?

Currently … there is no bonus for signing up.
If I develop one in the future, I’ll send it to all the subscribers first!

What if I no longer wish to receive Sidekick Services, but want to know about classes, workshops and other services?

I have a new Announcement List. It’s free to join. I will share about any new workshops, classes, books, and openings available for Friendly Tax/License Consults. (FYI - These announcements will go out first to Sidekick Services.)

Do I need to join the Announcement list as well?

The simple answer - No.
Why? If you are on Sidekick Services, you’ll receive all Announcements. And, you’ll receive them first! The Announcement List is a great option if you decide to leave Sidekick Services.

Is this useful if I live outside of Seattle?

Many readers have shared … that Yes! It’s still helpful if you live outside of Seattle.

For two reasons:
1 ) You get supported for IRS tax prep and filing, relevant to anyone working in the U.S.
2 ) The reminders about local taxes (city, county, state) often prompt readers to get in touch with their own local agencies to find out what is due.

Will it be different, now that we’re paying for it?

At first, not really. Eventually……….Yes!
With your support, I’m planning to up-level both the Sidekick Services and the Business Apothecary. But, it will take some time + money.

  • Hopefully, you will someday see:

  • New design of the newsletter

  • Additional and redesigned tax + money tools

  • Updated how-tos and walkthroughs

  • A web re-design for the Apothecary
    + More!

Why did you switch to a Paid Newsletter … when you said earlier that you wanted to keep it free?

I really, really wanted to keep it free, modeling after NPR or Wikipedia. Over time, I learned that it wasn’t sustainable. I had a few donors (thank you!), which was encouraging and so helpful. Also, it was only just enough to cover tech costs and provide a tiny bonus.

Over time, I realized the following foundational ideas:

  • To fully develop the newsletter and tools, and to really serve you all abundantly, I need 1 - 3 days a month for writing and design.

  • NPR and Wikipedia have regular fundraising campaigns. I didn’t want to start inundating you with those kinds of messages! I’m a fan of only sending need-to-know stuff to you and your inboxes.

  • The value of what I’m providing is designed to save you $500 - $1500 a year or more + intangibles like less stress, more peace, empowerment. And this is worth charging for.

  • Anyone desiring to thrive in self-employment can afford this monthly fee.

  • This model will be like Spotify, Hulu, G-Suite. It’s something you want or need, and it costs money.

Is this a Business Deduction for IRS taxes?

Yes! I would suggest putting this under “Supplies”.

What is Memberful?

It is the company that will process your payments, and keep the subscriber list updated. Whenever you’re changing your payment information, updating a credit card, or canceling, it will be through Memberful.

What if I want to cancel?

You can cancel any time, through Memberful. If you’re not sure how, please email me at jennygirlfriday@gmail.com, and I can do it for you. (Please allow 5 - 10 days, if you cancel through me.)

What if I want to change my monthly amount?

Stay tuned … I will find an answer and report back. And/or email me at jennygirlfriday@gmail.com, and I’ll see how to do this for you. (Please allow 5 - 10 days, if you are requesting a change through me.)

This service has been a game-changer for me. What can I do to show appreciation?

Thank you so much! I’m thrilled to hear it! All of the following are welcome: sending me a note in email, leaving a little Love in the Tip Jar, increasing your monthly fee, and/or encouraging friends to sign up. Thank you again! It’s my goal to help you THRIVE and it’s such a joy to know when things are working for you!

PPP Loan - Info + FAQs 2021

**This is an On-Going Blog Post - and will be updated as new information is discovered.**

Apply for a PPP Loan!
... as soon as you can.
Ideally this week.

Because it is 100% forgivable,
if you do a little paperwork.
The value is 2.5 x your average monthly profit.
The program was designed with you in mind

♥

Read on for FAQs ... and please let me know if you get one! ...or what happens.

Check out this Info Sheet > > >

Includes a chart for keeping track of your Paycheck Schedule. Recommend printing back-to-back if possible. Click on either image to get the 2 page PDF.

The Basics

PPP = Paycheck Protection Program
It is part of the federal relief efforts, through the Small Business Administration.

Although we technically don't have Payroll (as a sole proprietor or single-member LLC) ... we're still invited to apply! We are still allowed to get help. For us, it's considered "owner recompensation".

> > The first step is to get in touch with your bank or credit union.

> New application deadline: May 31, 2021

> You will apply for the Funds through them.

> You'll receive the Funds.

> Then, later, you'll apply for the "Forgiveness" with the bank's help.

> When asked how many employees are in your business, some banks will instruct you to say 0 and others will ask you to say 1. Check with them! (Technically, you're the owner, not an employee. But some banks need a number 1 in there for the formula.)

> The only form you should need ... is your 1040 Tax Return from 2019 ... with your Schedule C - this will show what your business profit was. (Which equals your "payroll".) If you see request for other forms, ask the bank!

FAQs

Who can apply?
Anyone who owns a business, including self-employed folks. Even though sole proprietors and single-member LLCs don't technically have a "payroll", we are still allowed. The rules have been extended so that our profit = payroll.

What is the basic overview?
You apply through your bank ... who goes to the SBA to get the funds. Once the funds arrive, the bank may ask for more documents from you. Use the money to "pay yourself". Then, follow your bank's instructions for the Forgiveness Application. Once you pass that process, you do not have to pay it back.

What paperwork is required?
Usually, an online application through your bank. Then, submitting your 1040 Tax Form from 2019. It's possible some banks will take a Profit and Loss Statement from 2020. Then, the Forgiveness Application - I don't know what is on there, but I've read that it is simplified this round.

I tried before, but didn't get it ... is it worth it this time?
This time, more money has been allocated ... it is way more likely that you can secure the funds this time.

I work seasonally, is there anything I can do to boost my loan amount? (The formulas don’t reflect what was truly lost.)
Yes! Some banks have special steps for seasonal workers. Ask someone at your bank or credit union about this. One reader was able to apply as a seasonal work and received about $7000 instead of $4000 (with the classic application).

I have an EIDL loan ... is that an issue?
Yes and no. As far as I understand it - If you used EIDL loan to pay yourself a regular paycheck, then this will count against how much money you can get from the PPP ... but you can still get the PPP! You can use the PPP funds to pay off your EIDL loan (which is not forgiven). Also, if you used your EIDL loan for other things - like rent or business bills - you can get the full PPP loan for your "payroll". Again, ask your bank!

Hmm ... I feel like other businesses need it more than me ... wouldn't I be taking money away from them?
We all need support. If you get the PPP funds, and pay yourself, you can ensure that you'll remain a stable and secure part of our economic system and community. Plus, you can use your personal funds to support the small businesses you wish to support! And/or donate to causes you care about.

My business has been steady, so maybe I don't need it. Do you have thoughts around that?
Yes! Many people I know (including Yours Truly) have been able to continually work ... but it's been exhausting, and some of us are starting to hit a wall. If we hit a wall, then our businesses come to a total standstill - without sick pay or disability insurance. The PPP funds can allow you to throttle back a bit, if you've been working steadily. Also, keep in mind, the spirit of this is to "protect" your payroll. Who knows what will happen in the next 6 - 12 months. I, for one, could use some security moving forward.

I got the first round of PPP ... can I apply again?
Yes, you can apply again ... with some extra paperwork. You'll need to demonstrate a 25% drop in income ... for a particular month. For example, if you can show you made $4000 in February of 2019 ... then, only $3000 in Feb of 2020, that would suffice. Again, ask your bank!

I heard about the Special Window to apply, where women or minority-owned business are getting additional funds … What if I already received the PPP loan, can I get these additional funds?
Sorry, at this time, there is no retroactive pay available. Keep asking at your bank, in case this changes.

Do I have to space out the paychecks to myself? Or, can I take the money all at once?
It's possible you can take it all at once. I've been seeing the term Owner Compensation Replacement - referring to this idea. Ask you bank or credit union if this applies to you.

What is the best way to handle the funds, to get the forgiveness?
Put all of the loan funds into a separate Savings or Checking account. Open a new one if you need to. Then, choose a schedule to "Pay" yourself - by transferring your "paycheck" to a personal account. OR, write yourself a check. It's very important that the "paycheck" goes into your personal account. What we're trying to avoid, is using the PPP monies for other costs. Use the chart above to keep track.

What am I allowed to spend the money on?
You must use 60-100% of the PPP money for "payroll" costs. There are a few other approved things - benefits, rent, utilities, operational. Ask your bank.

Am I allowed to use it to pay taxes?
If you are a sole prop or single member LLC ... technically, you, as a person pay taxes (not your business). So, after you give yourself a Paycheck (into your personal account), you can send in IRS estimated taxes from those monies. Having said that, you may NOT use them for city or state taxes - those are taxes your business pays.

I work by myself, I thought Self-Employed people didn't get Paychecks or have Payroll.
You are absolutely correct! Technically, we have profit or an owner draw. Having said that, the PPP Loan is including us, and equating our "profit" with our "payroll".

What happens if it’s not forgiven?
It stays a loan with a 1% interest rate. I think you may also defer payments, but am not totally sure about that yet.

What if I’m too worried about not getting forgiven … so it makes me not want to apply, because that would be way to stressful?
Suggestion, get the loan, go through the steps of paying yourself AND save all in Personal Savings. Apply for Forgivess asap, if you get it, cool! Keep the money. If you don’t get forgiveness, then you can pay it back. It would have been a hassle, I get it …but know this, they want us to have the money to stay employed and to stimulate the economy. So, they’re trying to make it as easy as possible for us.

Want to talk to a real person about this?
Scott Kim is at Verity Credit Union ... and helped one of my clients, Dr. Annie Roepke, a resiliency expert, go through the process. He shared that he's willing to be a resource to NON-Verity Members. I'll be reaching out to him this week.
What?! Amazing!


♥ Scott Kim,
Community Branch Manager at Beacon Hill
scott.kim@veritycu.com
206.641-2864

Bottom Line

This program was created with you in mind!
It is here to support small businesses through the rocky waters of the pandemic, and post-pandemic world.

Get help! Help is available!

For a few hours of paperwork and research, you can receive 2.5x $$ what you earn in a month ... to keep for Free.
Please do let me know if works for you! I'd love to hear how many readers do this. All the best and luck to you!

Good luck to you,

Jenny Girl Friday

P.S. I work for tips! If you this article helped you in any way, please consider leaving a tip in the TIP JAR. Thanks! :)