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Working for CPA network while getting unemployment

Discussion in 'Business & Tax Advice' started by SixRox, Oct 7, 2010.

  1. SixRox

    SixRox Newbie

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    Im trying to apply to a few CPA networks but they are asking for my SSN to do a 1099. Will this make me ineligible for unemployment automatically? (I currently receive it)
     
  2. Richardhere

    Richardhere Newbie

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    yes those will be earnings ...unemployment asks you for all your earnings
     
  3. Fireboltgirl

    Fireboltgirl Regular Member

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    Occupation:
    This is a job?
    Location:
    In the light :)
    Yea, but he hasn't earnt anything yet...

    Sorry, can't help since I'm not from your part of the world
     
  4. skewed91

    skewed91 Newbie

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    Yes I believe so.
     
  5. flamingpanties

    flamingpanties Newbie

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    It's been ages since I collected unemployment, but this is how it worked back then:

    You are supposed to report any work-related activities while receiving unemployment, and would not be eligible to receive it on those particular days in which you worked for yourself — regardless of whether you earned any income. The reasoning is you were not searching for paid employment in your field.

    The good part is: the days you are ineligible to receive benefit are deferred, so your unemployment is post-dated for all the days you didn't collect. You can actually extend your benefits by working for yourself.
     
  6. amcfad2

    amcfad2 Regular Member

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    Occupation:
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    anything over $400 has to be reported as self employment income
     
  7. Anabolic

    Anabolic Newbie

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    setup a subchapter S corp.

    Expense everything. ISP charges, cell phone charges, gas, PPC & media buy expenses, educational materials, all of it related to your business.

    If you have a loss, then you don't have any 'earnings'. ;-)

    Will this work? I don't know.
     
  8. Anabolic

    Anabolic Newbie

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    Apologies... this double posted.
     
    Last edited: Oct 21, 2010
  9. BorisTipsIt

    BorisTipsIt Regular Member

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    S corp doesn't work. You have to take a salary from it to get money out. You can take part as a draw, but first have to take a "reasonable salary" per IRS. Ran into this once. If you don't, then you have whoever controls unemployment AND the IRS on your butt.