b'CODING Update ComplianceLEGAL NUTRITIONUpdateANJC NewsANJC Leadership ANJC News! NUTRITION LEGAL EASEANJC Scholarship REHAB Update loans of less than $25,000 while requiring collateral on loans that exceed thisLEGAL Q&A CHIRO Assistamount. Executive Directors UpdateIn summation, the CARES Act was a necessary stimulus package to preventBy Jeffrey Randolphthe U.S. economy from crashing dueANJC Legal Counsel to the Covid-19 crisis that shut down most non-essential businesses in theQ What unemployment benefits canloan was not used for payroll costs, U.S. However, due to the rush in passingI apply for if I cannot work due toit does not affect your eligibility the act, the government found itselfLegislative Update for a PP loan. If your 7B loan was the Covid-19 crisis?with no choice but to reduce manyused for payroll costs, your PPP INSURANCE Update INSURANCE Update A New Jersey pays 60% of your priorloan must be used to refinance of the acts provisions that providedwage up to $713 per week for forgivable grants and to recharacterizeyour EIDL loan. Proceeds from any them as loans that must eventually be26 weeks for full unemployment.advance of $1,000 per employeeTECHNIQUE Updatepaid back, whether through a reductionFederal Covid stimulus pays an additional $600 per week for 13on the EIDL loan will be deducted in tax refunds for EIP or a reduction inweeks for maximum term of 39from the loan forgiveness amount forgiveness for PPP funds. As of thisweeks. You also may qualify foron the PPP loan.writing, additional bills are pending in Congress to provide for trillions of dollarsdependency benefits if you haveQ What certifications were required in more relief to citizens. Hopefully, thesedependents in addition to yourto obtain a Paycheck Protection MedicareQ&AMedicare Update base payment. If your spouse isProgram Loan and what if I did not additional funds are truly relief and notemployed and you are not, youcertify correctly? OUR HEALTHloans disguised as non-repayable grants cannot claim dependency benefits. as many programs thus far have turnedIf you and your spouse are bothA The primary certifications required out to be. for a PPP loan are: i) current unemployed, only one of you mayeconomic uncertainty makes the claim dependency benefits. Finally,loan necessary to support your Jeffrey Randolph, Esq.if you are able to work but workongoing operations; ii) the funds (the author of Legal Easeless than 80% of your prior workingwill be used to retain workers and Legal Q&A) is anhours, you may qualify for partialand maintain payroll or to make independent personunemployment.of the ANJC and hismortgage, lease, and utility views are not authorized,Q Who can apply or unemploymentpayments; iii) you have not and sponsored, or otherwisebenefits during the Covid-19 Statewill not receive another loan under approved by the ANJC. The informationof Emergency? this program; iv) you will provide provided is for general guidance onto the lender documentation that matters of interest only and may not takeA Employees, contractors, soleverifies the number of full-time into account particular facts relevant toproprietors, and self-employed under the Covid emergency actequivalent employees on payroll your individual situation. The applicationand the dollar amounts of payroll and impact of laws and health care canwho are out of work and are vary widely based on the specific factsphysically able to work. If you arecosts, covered mortgage interest involved. Given the changing nature ofphysically unable to work, applypayments, covered rent payments, laws, rules and regulations, there may befor short-term disability. If you areand covered utilities for the eight omissions or inaccuracies in informationnot a traditional employee gettingweeks after getting this loan; v) contained in these materials. Accordingly,a W-2, you need to produceall the information you provided the information you receive is providedtwo years of tax returns or otherin your application and in all with the understanding that the authorevidence of income history. Yousupporting documents and forms and the ANJC are not herein engaged inhave to have at least 20 basewere true and accurate; and vi) you rendering legal, accounting, tax, healthweeks of wages earned or grossaffirm that the tax documents are care or other professional advice andwages that are at least $8,600. Aidentical to those you submitted to services nor are they providing specificbase week is any week you earnedthe IRS. Any false certifications that advice with regard to your practice, thewere material to the application treatment of any specific illness, disease,$172 per week or more.could result in no forgiveness of deformity or condition, or any other matterQ Can I apply for A Paycheck Protec- the PPP loan proceeds and, in that affects trade, commerce, or legaltion Program Loan if I alreadyegregious situations, possible rights of others. As such, this article shouldapplied for an Economic Injury not be used as a substitute for consultationDisaster Loan from the SBA?prosecution for submitting a false with professional accounting, tax, legal,certification to the SBA. health care, or other competent advisers.A Yes. If you received an SBA EIDL Before making any decision or taking anyloan from January 31, 2020, action, you should consult an appropriatelythrough April 3, 2020, you can trained professional. apply for a PPP loan. If your 7B www.njchiropractors.com I 7'