Can you collect unemployment while trading?

Discussion in 'Professional Trading' started by IronFist, Jun 18, 2008.

  1. Serious question.

    Say someone gets laid off and is entitled to collect unemployment. If they are trading during this time and making money, do they have to declare that when they do their bi-weekly unemployment certifications?
  2. An honest person does have to declare it.

    A dishonest person can do what ever they hell they want as long as the government doesn't find out.
  3. Since its all computerized the govt. will find out. I can't imagine how trading would improve your financial situation though.
  4. Ok what about a non-trader who is on unemployment who happens to receive dividend distributions during his unemployment term. Does that have to be reported?
  5. I think unemployment has nothing to do with interest or dividends. UNless you are a professional trader, you are unemployed

  6. No, this is passive income, has no bearing on eligibility of benefits.
  7. Even if the person is actively trading full-time from their home?
  8. unless you are professional, you are 'unemployed'

    so unless you are making money consistently for 6 months or one year 'consistently' you are not a professional. it's a game.

    it's not a real job or real business. really it isn't

    you can lose it all later on. so declaring it weekly is stupid. 80% of new traders entering into this game don't make money for the first year and tax man knows this too.

    even investments that you had to sell and get captial gains are for end of tax year.

    so you must be new trader if you just got laid.

  9. Lets try to keep it classy and not make traders look like dirtbags.

  10. Trading is not a substitute for job. Get back to work or you will lose whatever left of it.
    #10     Jun 18, 2008