Ask Terry Questions Unemployment

Unemployment

By Terry Savage on May 03, 2020 | Wild Card

Hi.
I own a S-Corp. So I’m a W-2 employee of my S-Corp. (Others too). I pay unemployment tax for me and all my employees every month for years. I know my employees can file for unemployment but can I? I have lost over half of my business due to the covid-19 I tried to apply for PPp at 3 different banks. No luck
The disaster loans are gone. Can you answer my question. I listen toied to call. I listen to you on WGN and I tried to call.

Terry Says

If you aren’t receiving a salary now, you can and definitely should file for unemployment! YOu’ll get the state amount for 39 weeks, plus $600 from the Federal government until July 25th.
And you might find that you and your employees are better off for doing it this way!

money

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