Working for CPA network while getting unemployment

S

SixRox

Newbie

Sep 29, 2010

24

0

• Oct 7, 2010

• #1

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)

 

R

Richardhere

Newbie

Aug 17, 2009

14

2

• Oct 18, 2010

• #2

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

 

Fireboltgirl

Regular Member

Dec 26, 2009

238

120

• Oct 18, 2010

• #3

Yea, but he hasn't earnt anything yet...

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

 

S

skewed91

Newbie

Oct 18, 2010

30

5

• Oct 18, 2010

• #4

Yes I believe so.

 

F

flamingpanties

Newbie

Oct 15, 2010

32

4

• Oct 18, 2010

• #5

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.

 

amcfad2

Regular Member

Feb 8, 2010

276

46

• Oct 20, 2010

• #6

trolleyrider said:

You can earn $600 before they would send you a 1099. I used to bounce around and make less than $600 per company when I was on unemployment.

Click to expand...

anything over $400 has to be reported as self employment income

 

A

Anabolic

Newbie

Jan 9, 2009

10

3

• Oct 21, 2010

• #7

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.

 

A

Anabolic

Newbie

Jan 9, 2009

10

3

• Oct 21, 2010

• #8

Apologies... this double posted.

 

Last edited: Oct 21, 2010

B

BorisTipsIt

Regular Member

Aug 28, 2010

210

57

• Oct 21, 2010

• #9

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.