COVID Tax Relief (Finally) For the Self-Employed

Sick Leave Tax Credits
Available to 1099s

Sick Leave Tax Credits Available to 1099s

self-employed-image-square

Get the full amount you are entitled to.

Now that you’re here, there are only 3 easy steps between you and potentially receiving significant amounts of cash back from the IRS.

Either click here to get started or keep scrolling to learn more.

This is a TAX CREDIT, not a loan! Receiving this credit will either reduce the current amount you owe to the IRS or be sent to you directly in the form of an ACH or check. Any FFCRA credits you receive are yours to use and spend however you see fit. You NEVER have to pay this back! What are you waiting for?

self-employed-image-square-02

To qualify for the Self-Employed Sick Leave Tax Credit, you must meet three factors:

1. Identify as a Self-employed individual. A few examples, but not limited to, include:

  • Rideshare, food, or product delivery drivers
  • Gig workers
  • Earning an income via e-commerce sites like eBay, Etsy, Amazon, etc.
  • Running a freelance business where you provide services to another company but are not directly employed by them
  • Sole proprietors
  • Independent contractors (1099 workers)

2. Have filed a Schedule SE of IRS Tax form 1040 in 2020 and/or 2021 with a positive net income and paid self-employment tax on your earnings.

3. Have missed work due to Covid-related issues.

NOTE: Unfortunately, if you were an employee who received a W2 form in 2020 or 2021, your employer might have already claimed the FFCRA to cover your sick leave, making you ineligible to apply through Valiant Capital.

Who Qualifies for the Self-Employed Sick Leave Tax Credit?

The FFCRA allows for a 1099 contractor or self-employed individual to qualify for paid sick time if they were unable to work or telework because of COVID-19. A few qualifying reasons include, but are not limited to:

  • Following a federal, state or local quarantine or isolation order
  • Advised by a healthcare provider to self-quarantine
  • Experienced Coronavirus symptoms and were seeking a medical diagnosis
  • Caring for a child or other individual, who was subject to an government-issued or self-quarantine restriction
  • Caring for a child whose school or daycare was closed or unavailable
  • Obtaining a COVID-19 vaccination*
  • Recovering from illness related to the COVID-19 vaccine*
  • Seeking or waiting for the results from a  COVID-19 test*

NOTE: reasons with * only apply if you’re seeking credit for dates between April 1, 2021 – September 30, 2021.

sick-leave-happy-business-owner

How Do I Apply for the Tax Credit?

Step 1. Visit Valiant Capital.

(You’re already here, good job!)

Step 2. Confirm your eligibility.

Use our pre-qualification survey to see if you qualify and to calculate your estimated tax credit.

Step 3. Get your previous tax statements together and start the application.

We’ll need a few details from you about the dates you’re applying for and the income earned in 2020 and 2021. By having Valiant Capital handle these steps, you’ll save 10+ hours.

Step 4. Sign a few docs, upload your ID info, and select your payment options.

Step 5. Payment.

Valiant Capital charges a 18 – 25% processing fee (based on your payment option) along with a $250 non-refundable verification fee that will be deducted from your overall processing fee.

Step 6. Submit your application directly to the IRS via Valiant Capital.

Our streamlined process does the heavy lifting for you so just sit back and relax!

A little background and history on the FFCRA and how this opportunity came to be

In March 2020, the Families First Coronavirus Response Act (FFCRA) was enacted, aiming to support businesses in providing paid sick leave and unemployment benefits amid the COVID-19 pandemic. Initially targeting employers with W-2 employees, it aimed to alleviate the economic strain brought by the crisis.

In December 2020, the Congress approved the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which broadened the scope of the FFCRA to include not only employers but also self-employed individuals. This expansion brought relief to freelancers, independent contractors, and gig workers, making them eligible for tax credits reimbursing lost income due to COVID-19-related disruptions.

Our expert team will help you determine how much you are legally entitled to.

In order to receive all the money you’re entitled to from 2020 and 2021, we need to start processing your application soon! Let’s guarantee you receive all the money you’re entitled from the US Government to continue supporting our great nation and our economy!

Get Pre-Qualified Now

*Valiant Capital can only amend e-filed returns. If your 2020 and 2021 tax returns were paper filed, please reach out to your financial advisor for the next steps.

Frequently Asked Questions about Sick and Family Leave Credit (FFCRA and ARP) in Relation to PPP and ERTC:

What is the Sick and Family Leave Credit under the FFCRA and ARP?

The Sick and Family Leave Credit is a tax credit provided to employers who offer paid sick and family leave to their employees as mandated by the Families First Coronavirus Response Act (FFCRA) and the American Rescue Plan (ARP).

Who is eligible for the Sick and Family Leave Credit?

Eligible employers are those who provide qualified sick and family leave wages to employees who are unable to work due to specified reasons related to COVID-19.

What are the qualifying reasons for taking sick and family leave under these acts?

Qualifying reasons include the employee’s inability to work due to their own COVID-19 illness, quarantine, caring for someone with COVID-19, or caring for a child whose school or place of care is closed due to COVID-19.

How is the credit calculated for qualified sick leave wages?

The Sick Leave Credit is calculated based on the employee’s regular rate of pay, up to specified limits, with different daily and aggregate limits for various qualifying reasons.

Is there a maximum limit on the Sick and Family Leave Credit?

Yes, there are maximum limits on the credit, depending on the type of leave and the qualifying reason. Employers should be aware of these limits to accurately claim the credit.

Can employers claim the Sick and Family Leave Credit for leave taken after March 31, 2021?

The FFCRA’s mandatory leave requirements expired on March 31, 2021, but the ARP extended the tax credit for employers voluntarily providing paid sick and family leave through September 30, 2021.

How does taking the Paycheck Protection Program (PPP) impact eligibility for the Sick and Family Leave Credit?

Employers who receive PPP loans are not disqualified from claiming the Sick and Family Leave Credit. However, they cannot claim the credit for wages paid with forgiven PPP loan proceeds.

Does claiming the Employee Retention Tax Credit (ERTC) affect eligibility for the Sick and Family Leave Credit?

Employers can claim both the ERTC and the Sick and Family Leave Credit, but not for the same wages. Wages for which the ERTC is claimed cannot be used for calculating the Sick and Family Leave Credit.

What documentation is required to claim the Sick and Family Leave Credit in coordination with PPP or ERTC?

Employers should maintain detailed records and documentation to show the appropriate allocation of wages for claiming both the Sick and Family Leave Credit and other COVID-19 relief programs like PPP and ERTC.

Where can employers find more information about navigating the interaction between Sick and Family Leave Credit, PPP, and ERTC?

The Internal Revenue Service (IRS) provides guidance and resources to help employers understand the coordination of benefits when utilizing the Sick and Family Leave Credit alongside PPP and ERTC.

SBA Loan Application Process

SBA Loan Application Process

Considering that SBA Loans are guaranteed by the Small Business Administration, it seems slightly easier to qualify for the loan. However, this may not be totally true as you are still dealing with banks.

Most traditional financial lending institutions still insist on reviewing your credit history, financial statement, and possible collateral for you to qualify for an SBA loan.

A comprehensive business plan and proof that you are capable of servicing the loan will be required of you to qualify.

However, with a five-step process, you are sure of getting an SBA loan, stress-free thereby shunting the entire process traditional financial institutions will put you through. These processes include:

Step 1   Applying for prequalification: When you contact our loan officers, you will be expected to fill out our application form. The loan officer guides you through the entire process as they issue you an interest letter and may possibly visit the business site if necessary. Once the term of the loan has been agreed upon, the loan immediately goes into underwriting.

Step 2   Underwriting/Credit Approval: The information from the application process is carefully analyzed during the underwriting and is approved by the loan committee if the necessary requirements are met. The term of the approval is issued in a commitment letter.

Step 3   Packaging: Upon approval and the signing of the commitment letter, the loan is either packaged as an SBA 7(a) loan, SBA 504, or USDA B&I loan. A closing checklist will be provided to you, all third-party reports ordered and titles opened.

Step 4   Closing: The file is ready to be closed once the lender has gotten the approval from the SBA or USDA and has also received the third-party reports. A closing date of your convenience will be chosen.

Step 5   Servicing: Once you have received the loan, it is important you begin to service it regularly as agreed in the contract terms.

SBA Loan Requirements

SBA Loan Requirements

In order to qualify for SBA loan, certain documents will be required of you. They include:

  • A valid Driver’s License
  • Voided Business Check
  • Bank Statements
  • Business and Personal Tax Returns
  • Business Debt Schedule
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sintia is a proud Houstonian who is earning her Bachelors of Psychology at the University of Houston Downtown. In the future, she hopes to become an Immigration Lawyer where she can live out her passion of helping individuals relocate for greater opportunities. Sintia joined Valiant Capital in April 2020 as the Support Specialist where she enjoys engaging and helping clients with all documentation needed to finalize their loan request.

In her free time, she volunteers at her church as a youth group leader where she enjoys making a positive impact in the youth community.

Sintia Carcamo

Support Specialist
Houston,TX
832.942.3187
support@valiant-capital.com

Ariana is a recent graduate of Texas A&M University where she received her undergraduate degree in Kinesiology and minor in business. As the adidas Campus Agent, she crafted unique ways for students to interact with the brand and increase brand exposure by aligning national campaigns with a localized corporate agenda. Her passion for fitness led her to become a Certified Personal Trainer and work as a fitness coach for D1 Sports training while she completed her undergraduate degree. For Valiant Capital, Ariana works as the Marketing Specialist where she launches social media campaigns, creates marketing materials, and implements promotion strategies.

In her free time, she enjoys crossfit, wine tasting, and traveling.

Ariana Roy

Marketing Specialist
Houston, TX
281.964.7272
marketing@valiantcapital.com

Scott is currently pursuing his degree in economics with a minor in business from the University of Texas at Austin. Scott’s previous undergraduate internship with Ascendant Industries developed his passion for finance. He began working with Valiant to further his knowledge of financial/credit analysis. Scott enjoys helping clients in order to see their businesses thrive.

 

Apart from work, Scott is passionate about soccer, Houston sports teams, and being outdoors.

Scott Marker

Commercial Underwriter
Houston, TX
512.917.4608
scott@valiant-capital.com

Mario began his career in retail management working for a Fortune 500 company. Since 2009, he transitioned into entrepreneur-ship within the financial services industry. With over 11 years of business development as an entrepreneur, his primary goal is to add value to all his business relationships by connecting their financial needs to Valiant’s strong financial support network.

Most importantly he values his family of four children and his wife of 11 years.

Mario Cavazos

Partner
McAllen, TX
956.975.9750
mario@valiant-capital.com

Anthony brings a truly global perspective to the team. With a total of 20 years of experience in finance and real estate, Anthony has previously worked locally in Houston as an Investor Relations/Fund Manager. Internationally, Anthony lived and worked in London, England as a Tax Accountant for Professional Athletes and Property Developers. In George Town, Grand Cayman, he also served as a Foreign Payment Specialist.

Anthony attended BPP London University and holds both a bachelor’s degree as well as a master’s degree in accounting earned in the USA.

Anthony’s particular talent is financial analysis and projections. He has made significant contributions at Valiant by saving time and money through insightful projections and new business opportunities.

Anthony’s many achievements include being Employee of the Year twice at his previous place of employment, an award for London 2012 Olympic Volunteer, the Bank of America’s Employee Global Award, and various other employee awards for going above and beyond.

Anthony believes his very humble beginnings and his strong faith has molded him into the man he is today. Since the onset of his career, he has always been determined to make a difference for himself, his family, and his community. Anthony currently volunteers as Treasurer at his local church and served as the Men’s Ministry Leader as well.

Anthony enjoys fishing, gardening, and working on his cars. But most of all, he enjoys spending time with his wife and 3 children in Katy, TX.

His favorite hobby is to watch his daughter compete in college and amateur golf.

Anthony Morgan

Multi-Unit Director
Houston, TX
832.802.2277 ext.909
anthony@valiant-capital.com

Rick is a graduate of Texas A&M University, where he received a Bachelor’s Degree in engineering. After graduation, Rick launched his career in Houston by specializing in land development for over 10 years and worked on various projects such as subdivisions, retail centers, and apartment communities. Rick is a Licensed Professional Engineer with over 5 years of experience providing tax incentives for commercial properties and over 20 years of experience in the construction industry including land development, subsea construction, and certifying commercial buildings for energy efficiency across the nation. Not the “typical engineer”, Rick has the innate ability to bring people together and make connections.

During his spare time he enjoys spending time in his hometown of Austin with family and friends, being on the water, playing & watching sports, and volunteering with the Houston Rodeo.

Rick Alejo

Senior Partner
Houston, TX
281.788.6394
rick@valiant-capital.com

Jesus Cazares is a Houston native with over 25 years of experience in the finance industry. Throughout his experience with commercial real estate, cash-flow management, and financial analysis, his primary goal is help clients overcome challenges with managing their business growth and sustainability. With experience as a small business owner, Jesus understands the challenges with raising capital, he enjoys finding capital solutions that meet his clients needs. Outside of work Jesus enjoys spending time with his wife of 20 years and his three wonderful kids.

Jesus Cazares

Senior Partner
Houston, TX
832.452.5797
jesus@valiant-capital.com

Mr. Abney joined Valiant Capital in April 2020 as a Senior Partner, where he focuses on building relationships with various companies through sourcing, structuring, and executing capital raises and strategic advisory engagements. Prior to joining Valiant, Mr. Abney held various senior management positions over the past six years with a large, international oil field services company. Mr. Abney began his career as an Investment Banker in Canaccord Genuity & #39;s Energy practice that served all sectors of the oil and gas industry. Mr. Abney brings over ten years of industry and banking experience covering private and public equity, debt issuances, mergers and acquisitions, fairness opinions, and restructurings and workouts. During his career,Mr. Abney has been involved in over 35 strategic corporate transactions, including approximately $4.4 billion of various capital raises. Mr. Abney holds a Bachelor of BusinessAdministration degree in Finance from the University of St. Thomas in Houston, TX.

Ryan Abney

Senior Partner
Houston, TX
832.802.2277 ext. 908
ryan@valiant-capital.com

Loan Trinh, a native Houstonian, learned a strong work ethic at an early age. Her banking career consisted of working for Amegy Bank for 11 years in Wealth Management. Prior to Amegy she also worked for JP Morgan Chase Bank and Comerica Bank. In addition, she was a graduate of a competitive formal credit underwriting program. Her most recent role in Banking was Vice President and Private Banking Team Leader. Her role consisted of delivering Private Wealth Services and managing a portfolio in excess of $200 million dollars in loans and deposits. She’s passionate about business development, networking, and community involvement.

Loan earned a Bachelor’s degree in Business Management with a minor in accounting. She is currently licensed in real estate in Texas and Florida. She was an active member of the Houston community; She volunteered at non-profit organizations such as Ronald McDonald House, Junior Achievement, and Kipp Schools. She was a member of Commercial Real Estate Women in Houston and Asian Chamber of Commerce. She was the Chairwoman for the annual auction fundraiser at Cornerstone Academy and Co-Chair for CREW Golf Tourney fundraiser. Loan currently resides in Naples, Florida with her son.

During her free time, Loan enjoys outdoor activities, such as fishing, paddle boarding, and traveling.

Loan Trinh

Senior Partner
Naples, FL
239.877.0822
ltrinh@valiant-capital.com

Shawn began his career in the financial industry in 2007, specializing in merchant processing. As active President of Transglobal Payment Systems, since 2015, Shawn is results and community driven.Shawn joined Valiant Capital in 2017 and currently hold the position of Senior Partner with the firm.He enjoys building relationships with commercial clients in various market segments and specializes in CRE, hospitality, SBA, and Asset Based Lending. Shawn enjoys spending his time with his lovely new bride and daughter as well as, giving back to the community.

Shawn Bombaywala

Senior Partner
Houston, TX
832.802.2277 ext.901 shawn@valiant-capital.com

Eddie has over 15 years of Banking experience working at both BBVA and Bank of Texas. Throughout his time in the financial industry, he has held key positions as Portfolio Manager, Branch Manager. Licensed Financial Advisor, and Commercial Lender. This combined with his background as a Licensed Real Estate agent, perfectly positioned him to begin his journey with Valiant as a Managing Partner since 2018. He enjoys helping clients find the necessary financial support that best suits their needs to insure their success.

In his free time, he volunteers as a youth leader for his church and coaches Little League baseball for his son.

Eddie Guajardo

Managing Partner
Houston, TX
832.802.227 ext. 904
eddie@valiant-capital.com

As co-founder and Managing Director, Lou Gonzalez leads Valiant Capital and oversees all operations and corporate strategies. Prior to Valiant Capital, He started his banking career in 2002 and gained his experience with Bank One, JPMorgan Chase, BBVA USA, and Comerica Bank, with a dedicated focus in SME, Commercial and International Finance.

Throughout his career, he has received numerous awards for customer dedication, production, and leadership. Mr. Gonzalez holds a Bachelor’s degree in Business Finance and has received the President’s Student Service Award by George W. Bush

His passions outside of work include, spending time with his wife and two kids, traveling abroad, snowboarding, and scuba diving.

Lou Gonzalez

Austin, TX
Managing Director
346.444.0440
lou@valiant-capital.com