Second Stimulus Check Update - HEALS Act ANNOUNCED!!! Second Stimulus Check Update July 28, 2020 The Senate officially named the second stimulus check the HEALS Act. HEALS stands for Health, Economic Assistance, Liability Protection, and Schools Act. The second stimulus check is confirmed, once again, $1200 stimulus check for individuals, $2400 for married couples who file taxes jointly, and $500 per child dependent. Now the changes with the $500 for dependents, there is NO age cap for a child who is still being claimed as a dependent on the filer's tax return. Now the second biggest item on our stimulus check scoreboard was the unemployment benefit. It will stand at $200/week moving forward till the end of September. As for October 2020, the unemployment benefit will trans from into a 70% payment of your ordinary income. Keep in mind that the HEALS Act is still only a bill and not a law yet so that may change moving forward. The Paycheck Protection Program will be applied to businesses that have lost 50% in revenue and are on the likely list still. The big switch from the pending list to the likely list is the liability protection for businesses. Liability protection from the HEALS Act, is geared towards restaurants, schools, medical centers, businesses to create some extra layers of protection from being sued by patrons who may claim they caught the illness from attending their establishment. When liability protection was first introduced there was a 5-year statute of limitations, that has been changed to only one year. Employee retention credit is also in the HEALS Act bill. This is made for businesses that had a 25%-50% drop in income, they will qualify for a 50% tax credit, up to $30,000 per year, if they keep their employees. And that's your Second Stimulus Check Update from The Kwak Brothers! Hope you enjoyed it! 😃 Thanks for Subscribing & Liking our Video! The Kwak Brothers are millennial real estate investors who have acquired over 82 Units of Rental Units and have raised over $20,000,000 of capital for their real estate deals. They are based out of the Chicago-land area and they are dedicated to helping hard-working people become financially free real estate investor! They specialize in owner financing acquisition and raising capital. They are the creator of the FORCE Strategy (Find the deal, Owner Finance It, Raise the Capital, Cashflow It, and Expand your Financial Freedom) 📧 Get Our 1:1 Real Estate Investing Coaching and Mentoring: https://thekwakbrothers.com/thekwakbrothers ⌨️ FREE 7 Day Trial To PropStream Real Estate Investing Software: http://reisoftware.thekwakbrothers.com 📊 Pay Off Your Mortgage In 5-7 Years (On Average): https://www.youtube.com/watch?v=eGVn9iq1e6c 💻 JOIN OUR FREE FACEBOOK GROUP FOR LANDLORDS & PASSIVE INCOME: https://www.facebook.com/groups/bestreigroup 📡 PROTECT YOUR ONLINE DATA AND ACTIVITY WHILE CLOSING DEALS AND GENERATING NEW LEADS WITH NORDVPN: https://go.nordvpn.net/aff_c?offer_id=15&aff_id=40858 🔊 Our Podcast Channels: 📻First Deal Experience: 🔹Spotify: https://open.spotify.com/show/7pnHJSNl7vPVFzq69IzC6B 🔹iTunes: https://podcasts.apple.com/us/podcast/first-deal-experience/id1282240923 📻Landlording Automated: 🔹Spotify: https://open.spotify.com/show/1LTAeRg2ZAT1ATI1mdtWM0 🔹iTunes: https://podcasts.apple.com/us/podcast/landlording-automated-podcast/id1504548975 GET SOCIAL WITH US: 📣Facebook: https://www.facebook.com/thekwakbrothers/ 📣Instagram: https://www.instagram.com/thekwakbrothers/ 📧 Hire the Kwak Brothers to Speak: info@thekwakbrothers.com #healsact #secondstimulus #secondstimuluscheck ======================== ---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.