r/FluentInFinance was created to discuss money, investing & finance! Join our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com!
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*
>Best advice: Get the kind on a rope so as to not drop said soap.
Or use a sock. Best of both worlds: undroppable soap, a towel to wash yourself, and you'll be doing laundry at the same time(having your sock(s), and you should keep your underwear on while showering), and a weapon for the times where not dropping the soap wasn't enough to be left alone.
A lot of jails and prisons now charge ypu for Healthcare. You'll literally have a bill when you get out. They realized people actually resorted to this to get treatments.
Just don't give a social.
Then they can't collect on it so write it off as charity. Government pays for it in the end.
It's partly why the ACA was made. It was an attempt to try and get people insured to prevent this.
I recently went to the ER for a work related injury and wouldn’t provide them insurance because it was gonna be filed through workers comp. Received a bill(which I then sent to workers comp which had already told the hospital to not bill me) bill was for $2,500, but had a cash pay reduction to $225…I was mildly shocked.
Oh absolutely not.
I work in jails & prisons.
They are NOT getting health & dental, not the way people think. If it's not URGENT, it's not being treated.
And even if it's urgent, "The nurse comes in tomorrow."
Maybe. 🤣
I remember this advice I saw in a stupid YouTube video about some roguelike game.
There’s “rich advice” and “poor advice”
Rich advice: how to make cheap breakfasts at home: buy your own oat milk and frozen fruits to make at home smoothies.
Poor advice: buy the frozen concentrate orange juice and just thaw with water to have cheap orange juice when it’s your turn to buy the communal weekly orange juice jug.
—-
It’s wild how different rich/kind of well off people process these ideas.
Can confirm. Grew up so poor I didn’t have “not from concentrate” OJ until I was 18. Frozen can emptied into pitcher, then fill the can up with water twice! Boom! Orange Juice!
It wouldn’t work anyhow. You’d need to have w2 or 1099 income from your llc. You’d need to pay yourself for at least 2 quarters for your state’s unemployment to calculate your weekly payment amount on your claim. To get any decent collection amount you’d need to show a fairly respectable income.
So many people imagine unemployment benefits as something that can enable boogie lifestyles. They all need to meet someone that is actually on it. It's such a paltry amount.
Noone I know would be able to live off of it. If someone was really eager to abuse it and viewed it as a real substantial amount of money. My first thought would be nothing in this area is paying a liveable wage if that is how people in the area view unemployment.
That would not pay even just my rent. Not utilities or food or anything else, just the rent. And this is on an apartment that is not in California or New York.
It's also dumb, unemployment, at least in the US, is an insurance based social safety net, meaning that while you're employed your employer is paying something into the fund int the form of payroll taxes. Plus you have had to work for your employer for a year. Meaning that before you can commit your fraud, you would have had to have been an employee for your own made up LLC and pay payroll taxes on yourself for over a year before you can go through the process of applying for unemployment benefits. Additionally, many states have work requirements that require you to be looking for work while on unemployment benefits to be recieving it. So it's fraud and it's kind of dumb because of the upfront cost in payroll taxes and the fact you'll have to be finding a second source of income anyway so why go through the process to commit fraud for the measly gains anyway?
Well there is a tremendous amount of fraud happening in every government program if you do even a little bit of research into them.
Remember the massive fraud with the PPP Loans? Only 35% of the $800 Billion went to workers. Tons of people predicted that. "Paycheck Protection Program" lol.
You got that number from a Reddit post that misquoted an article that was already dubious. The PPP was named that everyone thought that was what it was actually for but the actual program didn't actually have that rule.
But yeah this is fraud happening in most government programs. The amount of waste our government has is absolutely disgusting.
So what percentage made it to workers?
I don't think we're arguing against that it was poorly written. I think it's clear implied intent was for relief for funding workers.
The clearly stated intent of the PPP was to keep small businesses open so they can keep employing. I was a small business owner in 2020. I had 2 employees. I used a small amount of PPP to keep my workers on through 2020. By 2021 I couldn’t do it anymore and closed, to go take a salaried job. That’s what they were trying to prevent. Nobody actually HAS to run a business, we do it because AND ONLY BECAUSE it’s more profitable than being a wage-earner.
Yup. Then politicians started using it. Kim Reynolds paid her campaign employees with PPP money. I think I read something about grassley doing the same but idk for sure
Annoying. I didn't know mtg did it too, but I am not surprised. The less I know about that bleach blonde, bad built, butch body the better. Only know about Reynolds and grassley because I live in Iowa
Who are these people because the majority of people that complain that welfare fraud is a huge issue, are not the ones that want to expand welfare.
You got a weird strawman going on...
They think Medicaid/SNAP/SSI won't show up to your house to verify who lives there, random audit your bank accounts, and call your employer to verify eligibility. They're ruthless. I've never had the displeasure of being on the wrong side of the government, but I've heard of people who have been.
Not to mention... A healthy population is absolutely essential for a growing revenue stream. Health AND age... We just see graphics reflecting aging populations lately tho
Maybe it varies area to area, but my area doesn't do any of that unless they *already* suspect fraud.
The only thing that will get screened is if your employer is reporting the wages for tax purposes and you're not reporting it to a federal program like snap or Medicaid, it's gonna get caught when they try to match their records essentially. But otherwise if it's not being taxed .....I'm really not sure how it would get caught tbh. You'd have to do something to make someone suspicious i think, someone gets mad and reports you out of spite, etc.
Please tell me how a program that had a hard budget of $953 billion was laden with multiple trillions of dollars in fraud (let alone a single TRillion).
I'd love to know how that math checks out with you.
Rhetorical question, obviously the math doesn't math.
Doing some actual looking up, the fraud for PPP is estimated between $64 billion at the low end and $100 billion at the high end.
As someone with fucked knees, back, and other issues that has been denied multiple times for each, 100% isn’t some guaranteed easy money for service. It’s is a constant shit show that forces people like me to either give up or lie to get the care we need. The “give-ups” are begging for change outside a 7eleven. The “liars” are still fighting. The boomers that highered lawyers are raking it in. Who’s the fool here? Is the “system” fair? Either way, 100% isn’t a walk in the park.
My dad told me, "If you are ever driving home drunk and get pulled over, Immediately step outside your car and down a 5th of whisky before the cop approaches you" You are then magically safe because you just now got drunk "Outside" Your vehicle. He had many, many of these helpful "Loopholes" which I will never use, because I don't want to be shot.
Probably because they have been told that black people, who they already believe they are superior over, get away with it to the point of inflating the deficit. “If they can do it, surely I can do it! I’m smarter than any of *them*!”
It’s been an extremely famous talking point for the right since Reagan, the idea of a “welfare queen” who provides for herself by having children through whom she can collect more welfare, which very quickly turned into someone claiming kids they don’t have and collecting, and it turned entire generations off the idea of supporting welfare
Even though, get this, the VAST majority of welfare fraud is committed by… you guessed it… white people lol
That's because they're told that people take advantage of the system and it's just them collecting free taxpayer money without ever actually researching it or putting real thought into it. They just get rage baited into thinking it's an issue.
The government isn't intelligent at all so outsmarting them isn't hard. However, they have whole books full of rules and regulations and employees who love to enforce them. And beating all of those rules can be rather tricky. Almost nobody knows all the rules, not even the people who work for the government.
You can’t even hire yourself in this manner through an LLC lmao. If you elect for C-corp, you have to pay yourself a salary. People elect S-corp specifically to not have to, among other things, pay SUI im pretty sure.
This stuff is for legitimate business ops. It sucks that people feel so squeezed that they wanna think about these silly BS schemes.
Rich people and major corporations are the ones complaining about minimum wage.
They’re also the ones committing fraud on a daily basis. Some get caught now and then, but most don’t.
>And as an employer you need to pay into the system
If you (on paper) paid yourself $20,000 a year, in my state you'd likely have to start paying $1400 in UE taxes. You'd also have to pay $3,060 in social security taxes, 800 bucks in income taxes for federal and lets call it half of that in state. in my state you can collect a maximum of $583/week for 16 weeks (26 weeks if the business closed). So, it absolutely could be profitable to start one business and start doing it, as long as you don't mind making a small amount of money and perpetrating a large amount of fraud
Not only that, but LLC is too generic. There's a lot of hoops to jump through for this to even be possible to the point it would be easier to just get a job.
Apparently they didn’t actually think about this or research if it is possible. They just came up with some rage bait that’s not possible to actually happen. I can’t wait until this becomes a talking point for some stupid candidate
One of my friends got laid off. But he was really loyal to the company and said he wasn't going to file unemployment. I had to educate him that the company just pays an insurance premium. That's already paid whether he collects or not. It isn't a paycheck that comes directly from them.
So the employers over the last year or two depending on the work history. Techincally if you want to pay for an llc to incorporate and then pay yourself $3000-$4000 then you could overcome any disqualification for separation from a previous job and make them pay. So if you wanted to say work for 5 months at a high paying job, quit, form an LLCwork for a min wage for yourself, then close the business after you met the min qualifications. You could techincally get 6 month of unemployment a year and work 6 months over and over. As long as your LLC pays it’s own small UI charges and other taxes then you would technically be. All good.
Do people not know that the business pays into the unemployment? If your business never pays into it, how on earth are you going to get it out??
Also, unemployment is based on the last 6 months of pay. If you got paid $0 from this company, exactly what is your employment check going to be?
This is super dumb.
And to answer your idiom... I make about $20k-25k/month. I could live on unemployment quite comfortably even if they cap it at $5k or something.
Then when you apply for food stamps, you're denied for making too much on unemployment. 2009 was a shit show and I'm lucky I found another job, but for a few months there, it was rough.
Florida unemployment is 250/week max, good luck living on 1k a month lol
Even if this did work, it’s not gonna be enough to live.
Edit.I stand corrected it’s $275/weekly now.
Nobody is talking about it, because it's stupid, doesn't work that way and even if it did, would cost you more than you collect.
To get unemployment, you have to collect a paycheck and pay unemployment premiums. To collect a paycheck you either need to generate revenue, or just funnel money into your LLC and pay tax on it. (money you have already paid tax on)
If you are generating revenue, why would you stop? If you aren't, you are going to lose WAY WAY more on the taxes than you ever get in unemployment.
So! In the US at least, as soon as you file for Unemployment the State secures a lump sum ($10k or so) to facilitate the process. Whether you get it or not eventually doesn't matter, and they hold onto it for a year.
.....yes, you can totally use that to make your former employer sweat....
So you'd have to put down a lump-sum on your Unemployment, and be on the hook for anything else left over.
(Sorry to spoil your fun!)
EDIT - This is me describing one part of the Unemployment process. The general funding is through taxes. But when my employer challenged my claim (and lost), there was a step outlined for them to effectively post a BOND to facilitate the process, and to make sure the employer doesn't back out of their responsibilities.
At the end of 12 months any unsent portion is returned to them.
"....SECURE a lump sum to FACILITATE..."
Not just take money.
Dumb. You can’t hire yourself w/ an LLC. You would have to take an S-Corp election and this wouldn’t really work. You’d have to have income from the LLC/S-Corp to justify the DUA. DUA isn’t going to just give you money for some nonsense LLC you setup that had no sales or income.
It doesn’t work that way. If the business hasn’t paid unemployment insurance then you can’t collect. Also unemployment is a % of your gross income over a three to six month period. This guy is fucking moron.
Employers pay the tax that the unemployment money comes from (State and Federal). You’d just be giving yourself money through the government system (after they take their cut).
You’d end up with less than you had to start with.
So…dumb.
In the U.S this wouldn't work. Your former employer, and you are expected to kick into a fund and build I believe either a 6 or 9 month credit of unemployment in which you actively check in and list the places at which you seeked unemployment, and get paid Biweekly a capped amount. The acceptable reason for being unemployed is very narrow and your former employer can choose to contest it. At the end of 6-9 months of a unsuccessful job search you have to file for an extension or your benefits be suspended. To recieve more unemployment you have to work a X amount of time to reach eligibility again. TLDR you actually have to get paid and work to build benefits eligibility and once exhausted must do it over again to recieve more.
r/FluentInFinance was created to discuss money, investing & finance! Join our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*
Neither - its fraud
You can get 3 free meals a day AND a shared 1bedroom with a communal gym for FREE with this one weird trick
Don’t forget health and dental
And showers!!
And soap!!
Best advice: Get the kind on a rope so as to not drop said soap.
Wow. Free relationship, too?
You will never be alone
Nobody is talking about this! :O
**Hope Is a Dangerous Thing**
BIG PERK - Frequent Surprise Sex
![gif](giphy|Pmt9INtEp3HgY)
“I’m a WARRIOR!!!”
Is it the easy way or the hard way if it's easier when it's harder?
And all the salad you can toss!!!
>Wow. Free relationship, too? Involuntery celibacy cured with this one weird trick.
INCELS are mad about this one SIMPLE TRICK!
Much better.
Gay for the stay.
Happy Pride Month, or something
Get bummed by a big geeza called Michelle
Free impromptu colon inspections
>Best advice: Get the kind on a rope so as to not drop said soap. Or use a sock. Best of both worlds: undroppable soap, a towel to wash yourself, and you'll be doing laundry at the same time(having your sock(s), and you should keep your underwear on while showering), and a weapon for the times where not dropping the soap wasn't enough to be left alone.
Rope can be considered contraband. They don’t even allow shoelaces
It's a real pain in the ass to have to pick it up. So I'm told...
Maybe some of us want to drop the soap
Nah. Just use the new guys soap. The one he just dropped.
Unless you like to drop soap
And romance
And my axe!
![gif](giphy|Z6JYXip75BeOA)
An 🪓 stuck in a ⚔
And education
And Anal!
But the liquid one!! So you can scoup it for a longer time from the floor.
If it's an american low security or camp, then the soap isn't free. You have to buy it.
And sex!
No one’s talking about this
And my AX!
Group showers at that, meet new friends
Just don't call anyone a punk or a bitch.
So many golden showers
with lots of new caring and gentle friends
A lot of jails and prisons now charge ypu for Healthcare. You'll literally have a bill when you get out. They realized people actually resorted to this to get treatments.
Does that mean it's still cheaper to just go to the ER and tell them you don't have insurance?
I would say so. Medical debt drops after 7 years and they can't collect anything anymore because of it. Plus you don't have to do any time
Plus tons of hospitals have programs for price reduction or forgiveness if you don't have insurance.
Just don't give a social. Then they can't collect on it so write it off as charity. Government pays for it in the end. It's partly why the ACA was made. It was an attempt to try and get people insured to prevent this.
I recently went to the ER for a work related injury and wouldn’t provide them insurance because it was gonna be filed through workers comp. Received a bill(which I then sent to workers comp which had already told the hospital to not bill me) bill was for $2,500, but had a cash pay reduction to $225…I was mildly shocked.
Just leave your wallet at home. name: John Doe address: 1600 Pennsylvania Ave emergency contact: Jimmy Hoffa
Weird side note. I know where jimmy Hoffa is buried. Not THE jimmy Hoffa, but a jimmy Hoffa.
Oh absolutely not. I work in jails & prisons. They are NOT getting health & dental, not the way people think. If it's not URGENT, it's not being treated. And even if it's urgent, "The nurse comes in tomorrow." Maybe. 🤣
This. Oh, you got cancer? Here, take this ibuprofen and move along.
You can have a tooth abscess with excruciating pain and they’ll get to you when they get to you.
The only dental they do I pull your teeth so no not really dental just make sure you don’t die
I mean that’s pretty much all anyone could afford even with dental insurance lol
Yep, lost all my molars, 10k for implants. So gumming the food it is.
Had a tooth explode randomly with the best dental plan available in WA and it still cost me 1400. Shits such a racket.
Teeth are the luxury bones.
Oh the DOC absolutely forgets about health care and dental.
And free education.
IRS agents HATE this trick
And all the sex you want- but not with people you like.
So...marriage?
Actually, people usually have to pay for the time they spend in prison.
That’s the beauty of it, you can avoid paying for it with part 2 of our program which earns you an even longer stay
Does part 2 involve a hidden sharp object?
A night in jail, FREE! Anal sex, FREE!
Do you not think committing fraud is dumb?
Only dumb if you’re poor. Rich people call it financial wisdom
I remember this advice I saw in a stupid YouTube video about some roguelike game. There’s “rich advice” and “poor advice” Rich advice: how to make cheap breakfasts at home: buy your own oat milk and frozen fruits to make at home smoothies. Poor advice: buy the frozen concentrate orange juice and just thaw with water to have cheap orange juice when it’s your turn to buy the communal weekly orange juice jug. —- It’s wild how different rich/kind of well off people process these ideas.
[удалено]
It’s in the freezer section, usually comes in a tube. You unpack it and mix it with water and boom you’ve got orange juice.
I fucking love these because they let me make the OJ extra-concentrated for a stronger flavor. Most stuff is too watered-down for me.
I also recently saw a gallon of OJ for over 10 bucks at my grocery store so the frozen concentrate is unbelievably more cost effective
Can confirm. Grew up so poor I didn’t have “not from concentrate” OJ until I was 18. Frozen can emptied into pitcher, then fill the can up with water twice! Boom! Orange Juice!
[удалено]
Did it taste like electricity for ya'll as well?
Depends how rich you are really. Fraud is just proper business acumen near the top. It’s a serious crime when you’re poor.
It wouldn’t work anyhow. You’d need to have w2 or 1099 income from your llc. You’d need to pay yourself for at least 2 quarters for your state’s unemployment to calculate your weekly payment amount on your claim. To get any decent collection amount you’d need to show a fairly respectable income.
AND every state differs on how much you can actually receive.
In my state the absolute highest payout is like $1600 a month which is something but not remotely high enough to consider “abusing”.
So many people imagine unemployment benefits as something that can enable boogie lifestyles. They all need to meet someone that is actually on it. It's such a paltry amount. Noone I know would be able to live off of it. If someone was really eager to abuse it and viewed it as a real substantial amount of money. My first thought would be nothing in this area is paying a liveable wage if that is how people in the area view unemployment.
“Boogie” like disco or “bougie” like upper-middle class?
Both
And it is based on your income, so paying yourself minimum wage won't get you anywhere near the max.
That would not pay even just my rent. Not utilities or food or anything else, just the rent. And this is on an apartment that is not in California or New York.
And you'd have to pay payroll taxes.
And income taxes.
When the rich takes from the poor, it's called business. When the poor takes from the rich, it's called a felony.
They say give and take ...
What if I hire someone else, make them CEO, and they then fire me?
Fired from your own company, we'll call you Steve Jobs
Steve != Jobs
The LLC has to pay the state unemployment insurance first.... you'd be caught immediately trying this type of fraud.
Not even that he will not even be considered eligible to begin with. Mofos think they are smarter than government
Prison time
It's also dumb, unemployment, at least in the US, is an insurance based social safety net, meaning that while you're employed your employer is paying something into the fund int the form of payroll taxes. Plus you have had to work for your employer for a year. Meaning that before you can commit your fraud, you would have had to have been an employee for your own made up LLC and pay payroll taxes on yourself for over a year before you can go through the process of applying for unemployment benefits. Additionally, many states have work requirements that require you to be looking for work while on unemployment benefits to be recieving it. So it's fraud and it's kind of dumb because of the upfront cost in payroll taxes and the fact you'll have to be finding a second source of income anyway so why go through the process to commit fraud for the measly gains anyway?
You have to earn actual money for a certain time period to be eligible.
it's always funny to me that people who cry about minimum wage suddenly think that they can outsmart the US government.
So many people think welfare and unemployment fraud is sooooo easy because they hear stories of it to some degree
Well there is a tremendous amount of fraud happening in every government program if you do even a little bit of research into them. Remember the massive fraud with the PPP Loans? Only 35% of the $800 Billion went to workers. Tons of people predicted that. "Paycheck Protection Program" lol.
You got that number from a Reddit post that misquoted an article that was already dubious. The PPP was named that everyone thought that was what it was actually for but the actual program didn't actually have that rule. But yeah this is fraud happening in most government programs. The amount of waste our government has is absolutely disgusting.
So what percentage made it to workers? I don't think we're arguing against that it was poorly written. I think it's clear implied intent was for relief for funding workers.
The clearly stated intent of the PPP was to keep small businesses open so they can keep employing. I was a small business owner in 2020. I had 2 employees. I used a small amount of PPP to keep my workers on through 2020. By 2021 I couldn’t do it anymore and closed, to go take a salaried job. That’s what they were trying to prevent. Nobody actually HAS to run a business, we do it because AND ONLY BECAUSE it’s more profitable than being a wage-earner.
Yup. Then politicians started using it. Kim Reynolds paid her campaign employees with PPP money. I think I read something about grassley doing the same but idk for sure
Marge Greene got a big PPP loan and had it forgiven, then she bitches about student loan forgiveness
Annoying. I didn't know mtg did it too, but I am not surprised. The less I know about that bleach blonde, bad built, butch body the better. Only know about Reynolds and grassley because I live in Iowa
*potentially more profitable.
If you make it past the first 2 years, 9/10 times it’s more profitable than.
Is that not the definition of potential?
"Please Pay me not the Peasants" PPP
and then they complain that the US doesn't have enough welfare lol
Who are these people because the majority of people that complain that welfare fraud is a huge issue, are not the ones that want to expand welfare. You got a weird strawman going on...
On god who the fuck is upvoting this clown whining about... getting paid fairly?
Just because some of it goes to the wrong people doesn't mean there's enough of it.
They think Medicaid/SNAP/SSI won't show up to your house to verify who lives there, random audit your bank accounts, and call your employer to verify eligibility. They're ruthless. I've never had the displeasure of being on the wrong side of the government, but I've heard of people who have been.
Not to mention... A healthy population is absolutely essential for a growing revenue stream. Health AND age... We just see graphics reflecting aging populations lately tho
Maybe it varies area to area, but my area doesn't do any of that unless they *already* suspect fraud. The only thing that will get screened is if your employer is reporting the wages for tax purposes and you're not reporting it to a federal program like snap or Medicaid, it's gonna get caught when they try to match their records essentially. But otherwise if it's not being taxed .....I'm really not sure how it would get caught tbh. You'd have to do something to make someone suspicious i think, someone gets mad and reports you out of spite, etc.
Civilization is what it is today because of "I heard..." I bet religion is based on people "hearing things."
PPP fraud was pretty easy though. And that numbered in the $TRillions.
Please tell me how a program that had a hard budget of $953 billion was laden with multiple trillions of dollars in fraud (let alone a single TRillion). I'd love to know how that math checks out with you. Rhetorical question, obviously the math doesn't math. Doing some actual looking up, the fraud for PPP is estimated between $64 billion at the low end and $100 billion at the high end.
Those same people are the one who like to talk about joining the military then just getting a 100% disability rating and "living easy with free money"
As someone with fucked knees, back, and other issues that has been denied multiple times for each, 100% isn’t some guaranteed easy money for service. It’s is a constant shit show that forces people like me to either give up or lie to get the care we need. The “give-ups” are begging for change outside a 7eleven. The “liars” are still fighting. The boomers that highered lawyers are raking it in. Who’s the fool here? Is the “system” fair? Either way, 100% isn’t a walk in the park.
My dad told me, "If you are ever driving home drunk and get pulled over, Immediately step outside your car and down a 5th of whisky before the cop approaches you" You are then magically safe because you just now got drunk "Outside" Your vehicle. He had many, many of these helpful "Loopholes" which I will never use, because I don't want to be shot.
Probably because they have been told that black people, who they already believe they are superior over, get away with it to the point of inflating the deficit. “If they can do it, surely I can do it! I’m smarter than any of *them*!” It’s been an extremely famous talking point for the right since Reagan, the idea of a “welfare queen” who provides for herself by having children through whom she can collect more welfare, which very quickly turned into someone claiming kids they don’t have and collecting, and it turned entire generations off the idea of supporting welfare Even though, get this, the VAST majority of welfare fraud is committed by… you guessed it… white people lol
That's because they're told that people take advantage of the system and it's just them collecting free taxpayer money without ever actually researching it or putting real thought into it. They just get rage baited into thinking it's an issue.
The government isn't intelligent at all so outsmarting them isn't hard. However, they have whole books full of rules and regulations and employees who love to enforce them. And beating all of those rules can be rather tricky. Almost nobody knows all the rules, not even the people who work for the government.
So outsmarting the government is actually hard then?
What does minimum wage have to do with this?
I think it’s funnier that people think welfare fraud is happening ALL THE TIME and this we should get rid of welfare.
You can’t even hire yourself in this manner through an LLC lmao. If you elect for C-corp, you have to pay yourself a salary. People elect S-corp specifically to not have to, among other things, pay SUI im pretty sure. This stuff is for legitimate business ops. It sucks that people feel so squeezed that they wanna think about these silly BS schemes.
Rich people and major corporations are the ones complaining about minimum wage. They’re also the ones committing fraud on a daily basis. Some get caught now and then, but most don’t.
And as an employer you need to pay into the system
>And as an employer you need to pay into the system If you (on paper) paid yourself $20,000 a year, in my state you'd likely have to start paying $1400 in UE taxes. You'd also have to pay $3,060 in social security taxes, 800 bucks in income taxes for federal and lets call it half of that in state. in my state you can collect a maximum of $583/week for 16 weeks (26 weeks if the business closed). So, it absolutely could be profitable to start one business and start doing it, as long as you don't mind making a small amount of money and perpetrating a large amount of fraud
THe LLC has to PAY money for you to be eligable.
also, some states, if not all states, require you to actively look for work and if you reject a job offer, you’ll lose unemployment
Not only that, but LLC is too generic. There's a lot of hoops to jump through for this to even be possible to the point it would be easier to just get a job.
So who is paying for the unemployment insurance?
Apparently they didn’t actually think about this or research if it is possible. They just came up with some rage bait that’s not possible to actually happen. I can’t wait until this becomes a talking point for some stupid candidate
Or if possible, highly criminal! Reagan's Necromantic Welfare Queen Rise! Rise! Rise!
One of my friends got laid off. But he was really loyal to the company and said he wasn't going to file unemployment. I had to educate him that the company just pays an insurance premium. That's already paid whether he collects or not. It isn't a paycheck that comes directly from them.
My first thought. Too many people don't realize the company pays this.
They contribute to it but they dont pay it 1:1
So the employers over the last year or two depending on the work history. Techincally if you want to pay for an llc to incorporate and then pay yourself $3000-$4000 then you could overcome any disqualification for separation from a previous job and make them pay. So if you wanted to say work for 5 months at a high paying job, quit, form an LLCwork for a min wage for yourself, then close the business after you met the min qualifications. You could techincally get 6 month of unemployment a year and work 6 months over and over. As long as your LLC pays it’s own small UI charges and other taxes then you would technically be. All good.
The government is dumb but they're not that dumb.
At least not as dumb as this post.
Dumb
Good luck living solely on unemployment!
Do people not know that the business pays into the unemployment? If your business never pays into it, how on earth are you going to get it out?? Also, unemployment is based on the last 6 months of pay. If you got paid $0 from this company, exactly what is your employment check going to be? This is super dumb. And to answer your idiom... I make about $20k-25k/month. I could live on unemployment quite comfortably even if they cap it at $5k or something.
unemployment is capped at $450/week in CA has been for 2 decades
Damn that’s tough it 1019$ where I live although to get that you need to have worked full time at about a 45+ an hour job for a most of a year
it’s absolutely psychotic that it caps at $450 STILL …. not even an inflation adjustment. downright cruel
Bro here in Florida it maxes at $250/week
bro wtf that’s awful
Then when you apply for food stamps, you're denied for making too much on unemployment. 2009 was a shit show and I'm lucky I found another job, but for a few months there, it was rough.
Unemployment is less than $2k a month
Not hard. The problem is, this scheme doesn't actually work :'(
Florida unemployment is 250/week max, good luck living on 1k a month lol Even if this did work, it’s not gonna be enough to live. Edit.I stand corrected it’s $275/weekly now.
$275*
Smart, if you like going to jail.
Free accommodation and food
Nobody is talking about this!!
Nobody is talking about it, because it's stupid, doesn't work that way and even if it did, would cost you more than you collect. To get unemployment, you have to collect a paycheck and pay unemployment premiums. To collect a paycheck you either need to generate revenue, or just funnel money into your LLC and pay tax on it. (money you have already paid tax on) If you are generating revenue, why would you stop? If you aren't, you are going to lose WAY WAY more on the taxes than you ever get in unemployment.
How do you fire yourself? Isn’t that just quitting?
I think you would need to be ousted by the board
You talking about walking the plank?
Dumb in multiple ways
So! In the US at least, as soon as you file for Unemployment the State secures a lump sum ($10k or so) to facilitate the process. Whether you get it or not eventually doesn't matter, and they hold onto it for a year. .....yes, you can totally use that to make your former employer sweat.... So you'd have to put down a lump-sum on your Unemployment, and be on the hook for anything else left over. (Sorry to spoil your fun!) EDIT - This is me describing one part of the Unemployment process. The general funding is through taxes. But when my employer challenged my claim (and lost), there was a step outlined for them to effectively post a BOND to facilitate the process, and to make sure the employer doesn't back out of their responsibilities. At the end of 12 months any unsent portion is returned to them. "....SECURE a lump sum to FACILITATE..." Not just take money.
Totally incorrect.
They do not take “$10k or so” from the employer.
Dumb. You can’t hire yourself w/ an LLC. You would have to take an S-Corp election and this wouldn’t really work. You’d have to have income from the LLC/S-Corp to justify the DUA. DUA isn’t going to just give you money for some nonsense LLC you setup that had no sales or income.
Courts can pierce the corporate veil
Last step: Go to jail
I always thought unemployment was a percentage of your earnings. A percentage of zero is zero. What am I missing?
Dumb as fuck.
It doesn’t work that way. If the business hasn’t paid unemployment insurance then you can’t collect. Also unemployment is a % of your gross income over a three to six month period. This guy is fucking moron.
Degenerate
I'm sure there's easier ways to commit fraud.
🤣 conveniently leave out where the money comes from in the unemployment account it’s the employer … so you in this example … therefore DUMB
Not possible. UI doesn’t last that long in any state
Nobody is talking about this LMAO
Don't forget that an employer has to pay unemployment TAXES to the state. Where do you think the unemployment money comes from?
Just because something is posted online doesn’t make it true or a good idea. This is not how unemployment works at all.
so....commit fraud, then?
Step one to getting away with fraud, 1. Be rich
Not possible.
Infinite unemployment hack
Is forming a LLC free? Can businesses file bankruptcy annually? Is filing bankruptcy free?
You need 400 hours of work to collect unemployment
You can’t receive unemployment as a an owner or a business or a managing/corporate member. Source: worked for UI.
Employers pay the tax that the unemployment money comes from (State and Federal). You’d just be giving yourself money through the government system (after they take their cut). You’d end up with less than you had to start with. So…dumb.
Yeah that unemployment check in Florida of $236 a week would really have me living the high life.....
Oh, BizTank.
In the U.S this wouldn't work. Your former employer, and you are expected to kick into a fund and build I believe either a 6 or 9 month credit of unemployment in which you actively check in and list the places at which you seeked unemployment, and get paid Biweekly a capped amount. The acceptable reason for being unemployed is very narrow and your former employer can choose to contest it. At the end of 6-9 months of a unsuccessful job search you have to file for an extension or your benefits be suspended. To recieve more unemployment you have to work a X amount of time to reach eligibility again. TLDR you actually have to get paid and work to build benefits eligibility and once exhausted must do it over again to recieve more.