Does my website revenue count against unemployment?
November 26, 2008 11:18 PM Subscribe
UnemploymentFilter: How do alternate income streams factor into unemployment and how many months do I have left?
posted by Elminster24 to work & money (10 answers total) 1 user marked this as a favorite
I live in Chicago and am likely going to be laid off in the next couple of weeks as I was asked to re-interview for my position and it appears that despite how much everybody loves me, one key decision maker doesn't think I have what it takes. Whatever.
Anyways, so I was unemployed from around 3/5/08 - 5/19/08. I didn't draw unemployment benefits the whole time, maybe just a month and a half since I received a month's severance from the job I had prior to March.
I also now have a website I've been working on that provides on average $500/mo in passive revenue (and hopefully more in the future).
That said I have two questions:
-How do I figure out how much unemployment I have left?
-Do I have to declare my website and the revenue it generates when applying for benefits? Is there a chance it could prevent me from getting them or drastically reduce the amount I receive? How does something like that work? Its not like I'm salaried. It is essentially a sole-proprietorship with its own EIN and bank accounts.
I'm hoping that I can draw my full unemployment benefits from my last couple of jobs and still pull in the income from the site. I also am not sure how many months of unemployment I have left since I heard something like you only get a total of 12 months in your lifetime--although that could be completely false.
Any guidance you guys can give would be much appreciated as I make preparations for the likely event of being laid off.
I'm hoping that with full unemployment benefits, the income from the site and my savings, I can ramp things up and be doing my web stuff full time and get out of the rat race.
Happy to answer any additional questions that might be needed to clarify things.