OT: Unemployment Abuse

[briansd1]

If you’re the president and likely 100% shareholder of the corporation, then the corp can’t lay you off.

The fact that the corporation losses a contract, or even goes into the red, doesn’t mean you’re unemployed.

You get the corporate veil and the corporation is a separate legal entity from you. That’s a great benefit.

Now if the corporation goes bankrupt, then you maybe able to get unemployment by appealing if you’re denied.

[sdduuuude]

[quote=briansd1]Now if the corporation goes bankrupt, then you maybe able to get unemployment by appealing if you’re denied.[/quote]

Ya. An interesting idea I never considered.

Anyway – back to the original topic. It sucks that I pay unemployment (on half my earnings) and can’t ever make use of it.

What I should do is find someone in a similar situation and have their S-corp. hire me and my corp can hire them. Then we both fire each other and collect. Probably only illegal if you post such ideas on the web prior to doing it … d’oh.

[sdduuuude]

[quote=briansd1]Now if the corporation goes bankrupt, then you maybe able to get unemployment by appealing if you’re denied.[/quote]

Ya. An interesting idea I never considered.

Anyway – back to the original topic. It sucks that I pay unemployment (on half my earnings) and can’t ever make use of it.

What I should do is find someone in a similar situation and have their S-corp. hire me and my corp can hire them. Then we both fire each other and collect. Probably only illegal if you post such ideas on the web prior to doing it … d’oh.

[sdduuuude]

[quote=briansd1]Now if the corporation goes bankrupt, then you maybe able to get unemployment by appealing if you’re denied.[/quote]

Ya. An interesting idea I never considered.

Anyway – back to the original topic. It sucks that I pay unemployment (on half my earnings) and can’t ever make use of it.

What I should do is find someone in a similar situation and have their S-corp. hire me and my corp can hire them. Then we both fire each other and collect. Probably only illegal if you post such ideas on the web prior to doing it … d’oh.

[sdduuuude]

[quote=briansd1]Now if the corporation goes bankrupt, then you maybe able to get unemployment by appealing if you’re denied.[/quote]

Ya. An interesting idea I never considered.

Anyway – back to the original topic. It sucks that I pay unemployment (on half my earnings) and can’t ever make use of it.

What I should do is find someone in a similar situation and have their S-corp. hire me and my corp can hire them. Then we both fire each other and collect. Probably only illegal if you post such ideas on the web prior to doing it … d’oh.

[sdduuuude]

[quote=briansd1]Now if the corporation goes bankrupt, then you maybe able to get unemployment by appealing if you’re denied.[/quote]

Ya. An interesting idea I never considered.

Anyway – back to the original topic. It sucks that I pay unemployment (on half my earnings) and can’t ever make use of it.

What I should do is find someone in a similar situation and have their S-corp. hire me and my corp can hire them. Then we both fire each other and collect. Probably only illegal if you post such ideas on the web prior to doing it … d’oh.

[briansd1]

Since you’re the decision maker in the corporation, allowing you to collect unemployment would allow you to game the system.

Again contracts that are awarded to the corporation are separate from the shareholders and employees of the corp.

If you wanted to game the system. you could put your girlfriend/wife on the payroll and periodically lay her off, if you wish. 😉

[briansd1]

Since you’re the decision maker in the corporation, allowing you to collect unemployment would allow you to game the system.

Again contracts that are awarded to the corporation are separate from the shareholders and employees of the corp.

If you wanted to game the system. you could put your girlfriend/wife on the payroll and periodically lay her off, if you wish. 😉

[briansd1]

Since you’re the decision maker in the corporation, allowing you to collect unemployment would allow you to game the system.

Again contracts that are awarded to the corporation are separate from the shareholders and employees of the corp.

If you wanted to game the system. you could put your girlfriend/wife on the payroll and periodically lay her off, if you wish. 😉

[briansd1]

Since you’re the decision maker in the corporation, allowing you to collect unemployment would allow you to game the system.

Again contracts that are awarded to the corporation are separate from the shareholders and employees of the corp.

If you wanted to game the system. you could put your girlfriend/wife on the payroll and periodically lay her off, if you wish. 😉

[briansd1]

Since you’re the decision maker in the corporation, allowing you to collect unemployment would allow you to game the system.

Again contracts that are awarded to the corporation are separate from the shareholders and employees of the corp.

If you wanted to game the system. you could put your girlfriend/wife on the payroll and periodically lay her off, if you wish. 😉

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