Collecting unemployment and trading?

Big question is it allowed?

Recently left a financial firm and am looking to join a prop shop. Once I start trading and start receiving a monthly payout on my P&L will I still be able to collect unemployment benefits?

Thanks

 

depends how sneaky you are.

 

Sounds like the perfect scam, therefore it's got to be too good to be true.

 

Sneaky yes. If one was to collect under the SS # but get paid through a S corp EIN # well...............who knows I don't know the workings of prop firms.

 

Speak to Green Trader Team - Adam Manning.

He can help you with this and give you valid answer.

 

let me guess, you voted for obama?

 

how can you get unemployment if you left on your own accord?

 

Well technically your filing a 1099, or K1 for taxes in 2011 for income earned in 2010, so you have a year to collect from uncle sam, but don't draw money from your prop account (if any) until 2011 if you can. That way you pay taxes in 2012 and keep your "underemployment" .....

 

Don't be silly, you know it's wrong so why are you asking

 

I love it when someone resurrects one of these "great recession" posts, gives us all perspective