Many small business owners are closing their doors for good. What can the survivors do to stay afloat if we have a second or third Covid outbreak?

I always tell people, if you want to become a small business owner, you need to make 130% more than what you are making now. Self-employment tax, lack of 401k match and health insurance costs add up for the self-employed. Small business owners that get paid in cash, and didn’t report all of their cash income, ended up with fewer benefits under the CAREs act. Being self-employed is great... if you have a plan and know what you need to make to break even Other topics:

• Is the stock market doing as poorly as people think & can stocks rise in a recession?
• A review of what causes recessions
• Dealing with renters who are unable to pay
• Best practices for commercial lease challenges from landlord and tenant perspectives with real estate attorney Jeff Lerman

 

Email your money question to [e-mail] , or call the show at 1-800-516-1220 on Tuesday's and Wednesday's from 6:00-7:00 a.m. (PDT)

 

Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.NewFocusFinancial.com.