Currently collecting unemployment from a company I use to work for. I am looking to start trading again and will be a K1 tax status. Does anyone know if I am able to trade and still collect unemployment? If I make a certain amount will the unemployment stop? How does this work trading as an independent contractor K1? Thanks!
Yes you can collect unemployment and trade. Have been doing it for 2 years now, . Love Obama for extending the benefits, keep it up buddy!
Yeah, im in NYC so it has worked for me...no one said anything, been doin my taxes... etc. Its a commission job so its different.. i think.
I'd recommend going to justanswer.com (no im not affiliated with them) and asking one of their tax/legal professionals. You pay a small fee for the answer, but only if you feel the answer is sufficient... Otherwise you don't have to pay at all.
I have done this for decades while working as an IT contractor... It was great, and often I made more money trading than contracting (I have to add that often I kept on trading while earning daily per-diems from contracting gigs), I would not advise you to do the same under the current climate and economy. I knew I was going to get a new gig during the 80's, 90' and 00's Now it is quite different!
Me and my friend have been trading for 2 years, collecting unemployment, .... fuck it. Unless your making like 100k a year trading , and you still wana milk the Gov't for additional $$...then I wouldnt worry about it.
Some say the endless 'buy the dip' threads are a great indicator of impending crash, well this thread has got to be a sign of impending collapse of this country Get off the teet you leechfucks
When it comes to maneuvering around the IRS, the "fuck it" attitude is rarely a good idea. Just saying.
It used to be just crack heads collected unemployment now there is no shame, obama extends it like its pity money!