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BCFLawnLandscape
08-23-2010, 10:19 PM
So, is it possible to lay off yourself as the owner of an S-corp when you have no work in the winter, and be able to draw unemployment? Has anyone done this? What are the pros and cons etc.

Any advice would be greatly appreciated.

Thanks!

AI Inc
08-24-2010, 06:51 AM
Depends on the state. I do it. A poster here from PA says he cannot.

nepatsfan
08-24-2010, 07:30 AM
So, is it possible to lay off yourself as the owner of an S-corp when you have no work in the winter, and be able to draw unemployment? Has anyone done this? What are the pros and cons etc.

Any advice would be greatly appreciated.

Thanks!

And pay yourself cash to plow?:laugh::drinkup:

punt66
08-24-2010, 07:38 AM
you got to love socialism hahaah

AI Inc
08-24-2010, 07:45 AM
you got to love socialism hahaah

When forced to pay , ya learn to play.

punt66
08-24-2010, 07:49 AM
a business owner is not forced to pay unemployment on himself. In CT its not allowed.

AI Inc
08-24-2010, 07:53 AM
Even on an s corp as the OP stated?

fl-landscapes
08-24-2010, 09:29 AM
a business owner is not forced to pay unemployment on himself. In CT its not allowed.

FL I pay into the unemployment fund, and can not colllect as the president of the s-corp.......dont really like that deal. But what the heck am I suppose to do about it?

BCFLawnLandscape
08-24-2010, 05:15 PM
Anyone know if it can be done in Ohio?

BonesMalone
08-24-2010, 05:48 PM
What about Kansas ?

BlackDog3
08-24-2010, 06:20 PM
I know in Pa it cant be done. It sucks, thats why i got a part time job during the winter months.

Chris

Daily Lawn/Landscape
08-24-2010, 09:46 PM
You could do cash work and not report it. Or hey, maybe you just plan ahead and set back enough for winter like I have for the last 8 yrs. Somebody needs a BUDGET:)

By the way,I do not suggest the cash thing.

James

fl-landscapes
08-24-2010, 10:09 PM
You could do cash work and not report it. Or hey, maybe you just plan ahead and set back enough for winter like I have for the last 8 yrs. Somebody needs a BUDGET:)

By the way,I do not suggest the cash thing.

James

Agreed 100%. As business owners we shouldnt be striving for some measly unemployment check. I was just answering the question from the original post. However I do not agree that I should have to pay into a fund I can not collect from. Just another tax!

Roger
08-24-2010, 10:33 PM
If it is permissible in your state, why would you want to do this?

Your rates are determined on what past draws have been. So, to draw unemployment on your account will mean rate increases the next year. The trade off might mean drawing during the Winter will be more than offset by the increased insurance payments the other three seasons.

A friend of mine has a handyman service. The first year in business, his one employee was laid off during the Winter, and drew unemployment. He quickly learned it was cheaper for him to keep the employee on the payroll during the Winter, than to pay the much higher rates for the rest of the year. He now has five employees, and they "work" year-around, even though they might not show up every day during the Winter. He wants no opportunity for them to draw unemployment.

nepatsfan
08-24-2010, 10:44 PM
Agreed 100%. As business owners we shouldnt be striving for some measly unemployment check. I was just answering the question from the original post. However I do not agree that I should have to pay into a fund I can not collect from. Just another tax!

Easy for the guy from florida to say where you can work all winter.

fl-landscapes
08-25-2010, 09:44 PM
Easy for the guy from florida to say where you can work all winter.

Lived in Hull, MA for 30 years worked all over the south shore my whole life, only been here going on eight years. Was in Bridewater and martha's vineyard july 15th to the 25th this year and will be back for thanksgiving.......trust me I know all about winters.

93Chevy
08-25-2010, 09:49 PM
You could set your business in your wife's name and be a "star" employee and collect.

nepatsfan
08-26-2010, 12:24 AM
You could set your business in your wife's name and be a "star" employee and collect.
That sounds good but immediate family can't collect either.

93Chevy
08-26-2010, 07:56 AM
That sounds good but immediate family can't collect either.

Maybe it varies state to state. I've heard a couple guys do that around here. But maybe they were just blowing smoke, I don't know.

Mark Oomkes
08-26-2010, 09:47 AM
So, is it possible to lay off yourself as the owner of an S-corp when you have no work in the winter, and be able to draw unemployment? Has anyone done this? What are the pros and cons etc.

Any advice would be greatly appreciated.

Thanks!

I know a guy in Illernoiz who does it. Doesn't pay himself much the first quarter and loads up the salary the second and third.

a business owner is not forced to pay unemployment on himself. In CT its not allowed.

It is in MI, not sure if I shut down if I could collect.

Total BS if you ask me.

Anyone know if it can be done in Ohio?

Check with a CPA or tax attorney, you'd be nuts to take this kind of advice from someone over the internet.

Agreed 100%. As business owners we shouldnt be striving for some measly unemployment check. I was just answering the question from the original post. However I do not agree that I should have to pay into a fund I can not collect from. Just another tax!

What if you just budget the extra UI into your overhead?

Other than that, yeah, really sucks that I will never collect what is rightly mine.

If it is permissible in your state, why would you want to do this?

Your rates are determined on what past draws have been. So, to draw unemployment on your account will mean rate increases the next year. The trade off might mean drawing during the Winter will be more than offset by the increased insurance payments the other three seasons.

A friend of mine has a handyman service. The first year in business, his one employee was laid off during the Winter, and drew unemployment. He quickly learned it was cheaper for him to keep the employee on the payroll during the Winter, than to pay the much higher rates for the rest of the year. He now has five employees, and they "work" year-around, even though they might not show up every day during the Winter. He wants no opportunity for them to draw unemployment.

See above, if it's budgeted into your costs-which it should be--why would this be an issue?

Besides, it's your\my money, why should the gov't have it?

fl-landscapes
08-26-2010, 05:02 PM
I know a guy in Illernoiz who does it. Doesn't pay himself much the first quarter and loads up the salary the second and third.



It is in MI, not sure if I shut down if I could collect.

Total BS if you ask me.



Check with a CPA or tax attorney, you'd be nuts to take this kind of advice from someone over the internet.



What if you just budget the extra UI into your overhead?

Other than that, yeah, really sucks that I will never collect what is rightly mine.



See above, if it's budgeted into your costs-which it should be--why would this be an issue?

Besides, it's your\my money, why should the gov't have it?

It is budgeted in....and not that big of an expense and of very little importance financially.......Doesnt make me like it anymore that I have to pay into an Insurance fund I can not benefit from if need be. Like YOU said "really sucks" but whatever I was just answering the op question for my state

chris@perfectlawncare
08-30-2010, 10:42 AM
You could set your business in your wife's name and be a "star" employee and collect.

Until your wife divorces you and then has the business...
Posted via Mobile Device

Mark Oomkes
08-30-2010, 11:58 AM
It is budgeted in....and not that big of an expense and of very little importance financially.......Doesnt make me like it anymore that I have to pay into an Insurance fund I can not benefit from if need be. Like YOU said "really sucks" but whatever I was just answering the op question for my state

Exactly and agreed 100%!