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I hope so. My question is this. I currently receive

Customer Question
My question is this...

My question is this. I currently receive unemployment benefits. I started my own company and I am preparing to invoice my first client. How will this impact my eligibility?

Accountant's Assistant: Is there anything else important you think the Accountant should know?

My company is a clinical consulting business and will likely take substantial losses in the first year. One of those losses is related to legal expenses incurred as a result of my pleading guilty to a Misdemeanor 2 offense in September 2018. The legal fees are considerable and I require representation to maintain my licensure as an RN and an LNHA in order to perform my consulting work. Sorry, that was September 2017

Submitted: 1 month ago.Category: Tax
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3/8/2018
Tax Professional: Barbara, Enrolled Agent replied 1 month ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,761
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Self employment income affects unemployment eligibility in some states.

What state do you live in?

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Customer reply replied 1 month ago
State of Ohio
Tax Professional: Barbara, Enrolled Agent replied 1 month ago

Thank you. Give me a moment.

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Tax Professional: Barbara, Enrolled Agent replied 1 month ago

You must report earnings for any work performed and any income paid or payable to you while you are claiming unemployment benefits. If you work part-time, are self-employed or perform odd jobs during the weeks that you file for unemployment benefits, you may still be paid benefits if your gross earnings are less than your weekly benefit amount. Gross earnings are your total earnings before any taxes or deductions are taken out.

See the following: https://jfs.ohio.gov/unemp_comp_faq/faq_elig_maintain2.stm

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Customer reply replied 1 month ago
Okay, so here is my question. If I invoice $3600+ today, but have a $5000 retainer I am paying my lawyer on Monday--what is my income?
Tax Professional: Barbara, Enrolled Agent replied 1 month ago

$3600

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Tax Professional: Barbara, Enrolled Agent replied 1 month ago

Unemployment requires you to report your GROSS earnings.

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Customer reply replied 1 month ago
Ouch, that seems unreasonable in light of the loss and the actual negative income situation I will be in.
Tax Professional: Barbara, Enrolled Agent replied 1 month ago

Those are the unemployment rules--report your gross income.

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