I have a Partner in a plumbing business, that we had started. Both of us have been collecting unemployment for a awhile. I believe from what I have read on the State of MA, website, that I can continue to collect as long as the business has been part time. Which it has. Two guys roughly putting in about 15-20 hrs aweek, if we are lucky.
My question is:
Are we safe or is it possible that we may have to payback Unemployment Benefits? I collect out of MASSACHUSETTS and collects out of CONNECTICUT.
We will be receiving 1099 for the tax year for the business. Shoud we stop collecting unemployment and file our taxes for 2011 for the business and skip 2010.
I just don't want to get stuck paying all that money back. Neither one of us has taken a dime out of the business, we have put all our money towards Van, tools, office equipment, advertising, etc...
All and any advice is greatly appreciated. Thank You.