Unemployment — but one-time bonus
I am a realtor for 35 years 1099 person but most of my income is as an employee. I have qualified 351 as a w2 employee but I haven’t earned anything yet but I will make 20000 as a realtor. What are my tax consequences. What do I do I have collected about 10 weeks unemployment I need some direction. I always have been a big fan of you. Thanks
Terry Says
Well, good that you got the unemployment benefits, including the $600/week Federal money. I hope you don’t get paid your real estate commissions until after August 1st when that extra $600 ends (unless it gets extended by Congress). The week that you get paid the commission you will have to report it as income –an unexpected ‘bonus” income. But then in the following weeks, assuming you haven’t exhausted your benefits, you will again be able to certify on the same claim with no income from your job.
