Question by Chi-Town: If I am unemployed in Illinois and I am receiving unemployment can I start a business?
Recently unemployed and receiving unemployment. I would like to still look for employment during the day but at night start a part time business. I will be collecting money for other companies and then getting a percentage. Since I am still looking for a full time job is this possible. I do not see a profit for quite some time. 80% of everything I get will be paid to the companies within a week. (Not a collection agency). What are my options or how do I deal with unemployment?
Answer by Chickie!
When you submit your unemployment claim every week or two weeks, they ask you to enter any income you’ve made. Your inome will be what you’ve made from this minus your expenses. So if this is negative, you do not have any earnings to report. If you start making a profit and have earnings, most states have a small amount you can make without penalty (in my state it is about $ 65 a wee). Then they start subtracting the amount over that from your unemployment check. Once you make OVER your unemployment benefit mount, you are kicked off the program.
What do you think? Answer below!