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Nothing shady, I just want to get all my ducks in a row before I call the office to ask if I screwed up.
In Texas I started and LLC back in April of this year after getting laid off in February, and since then, I've made very dismal earnings in this new LLC. So recently, I decided to file for unemployment. I googled about the law before I filed, and although information was sparse, I understood that it was o.k. to receive 1099 work and collect unemployment (I just have to report my earnings is all).
So recently, I reported working 2 days a couple weeks ago, and I realized that I wouldn't get benefits for that week, but it got me to thinking... Is doing 1099 work different from starting an LLC and getting money from it?
I've steadily been looking for full time work, and I only LLC'ed to get 'something' coming in before I had to resort to the last measure of collecting unemployment and be a burden on the state. The business has probably made $5k in the 5 months PRIOR to actually filing for unemployment, but like I said, business was dismal so I had to file.
I've received my "debit card" in the mail, but have not activated it yet.
Again, I'm not trying to do anything shady, I want to do the right thing and report my potential mistake so it won't haunt me down the road, but I also want to get an idea of the problems I'll encounter before I call them up to ask them if I did wrong.
For what it's worth, I've search all over their website and there is absolutely nothing on my situation, just 1099 stuff (which is o.k.. I just don't know if being an LLC is not o.k.). I actually LLC'ed in April and I 'filed' in September.
I know I need to call them, I just want to get an idea of what I'm looking at before I do.
Not sure how self employed works... I know some of the things with writing off losses for x number of years, but nothing with filing unemployment. I had an LLC and DBA in FL for a few years but it wasn't sustainable long term and just let it expire.
In Texas I started and LLC back in April of this year after getting laid off in February, and since then, I've made very dismal earnings in this new LLC. So recently, I decided to file for unemployment. I googled about the law before I filed, and although information was sparse, I understood that it was o.k. to receive 1099 work and collect unemployment (I just have to report my earnings is all).
Is doing 1099 work different from starting an LLC and getting money from it? I've steadily been looking for full time work, and I only LLC'ed to get 'something' coming in before I had to resort to the last measure of collecting unemployment and be a burden on the state. The business has probably made $5k in the 5 months PRIOR to actually filing for unemployment, but like I said, business was dismal so I had to file.
For what it's worth, I've search all over their website and there is absolutely nothing on my situation, just 1099 stuff (which is o.k.. I just don't know if being an LLC is not o.k.). I actually LLC'ed in April and I 'filed' in September.
I know I need to call them, I just want to get an idea of what I'm looking at before I do.
I don't know the rules in Texas, but in New Jersey working for someone else and getting a 1099 is different than getting 1099 earnings from a company you own -- all or in part. According to the NJ Department of Labor website:
"If you are an officer of a corporation, or you own more than a 5% equitable or debt interest in the corporation, and your unemployment claim is based on wages with the corporation, you will not be considered unemployed during your term of office or ownership. Since you are not considered unemployed, your claim will be held invalid and you will not receive benefit payments.
A corporation is considered viable unless it has permanently ceased operations and filed for formal dissolution in accordance with the New Jersey Business Corporation Act or has filed for bankruptcy under Chapter 7 of the United States Bankruptcy Code."
Check the Texas website again for info applicable to you -- but look under "corporate officer/owner."
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