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0.000618429189857638 0.00108225108225098 0.000463821892393338 -0.00262832405689551 0.00309214594928885 0.00247371675943099 0.0116728509585652 0.00803957946815083
Stock impact report

How Traders Should Mine The CARES Act For Tax Relief & Aid [Forbes]

Paychex, Inc. (PAYX) 
Last paychex, inc. earnings: 3/25 08:15 am Check Earnings Report
US:NASDAQ Investor Relations: investor.paychex.com
Company Research Source: Forbes
ShutterstockThe CARES Act provides tax relief and economic aid to employees, independent contractors, sole proprietors, and other types of small businesses. However, traders don’t fit into usual small-business categories, so there are issues in applying for some CARES aid.Traders eligible for trader tax status (TTS) operating in an S-Corp might be able to receive state and federal unemployment benefits. TTS S-Corps also might be able to obtain a forgivable loan under the Small Administration Paycheck Protection Program. TTS traders structured as sole proprietors, partnerships, or S-Corps might be eligible for five-year NOL carrybacks, relaxed retirement plan distributions, and recovery rebates.A trader’s capital gains and Section 475 ordinary income are different from wages, earned income, and self-employment income (SEI) required for many of the business-related benefits under CARES. TTS sole proprietors report business expenses on Schedule C, but trading gains and losses go on othe Show less Read more
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