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Posted by tpzelda on May 23, 2008, 3:33 pm
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Hi all,
I have been laid off from my job a few months ago. I took some time
off from work and now I am slowly getting back to job search. I was
informed that I am eligible for unemployment insurance. My husband
works and makes good money, i.e. we don't really need the money. My
adviser tells me it is OK since the money is supposed to come back
from my previous employer when I was working. We feel a little uneasy
about collecting the money. Should I just take it as a benefit that I
earned while I was working or should I not get it? I mean am I
preventing someone else who might me in more need? What are the things
that can help me decide what to do? Thanks.
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Posted by joetaxpayer on May 23, 2008, 3:49 pm
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tpzelda@gmail.com wrote:
> Hi all,
>
> I have been laid off from my job a few months ago. I took some time
> off from work and now I am slowly getting back to job search. I was
> informed that I am eligible for unemployment insurance. My husband
> works and makes good money, i.e. we don't really need the money. My
> adviser tells me it is OK since the money is supposed to come back
> from my previous employer when I was working. We feel a little uneasy
> about collecting the money. Should I just take it as a benefit that I
> earned while I was working or should I not get it? I mean am I
> preventing someone else who might me in more need? What are the things
> that can help me decide what to do? Thanks.
No one is forcing you. If you are entitled to it, it's yours. Kinda like
the people who claim they'll never file to get their social security
benefits. If you feel strongly, don't bother claiming it, and enjoy the
good feeling. A compromise is to take the money and donate it to your
favorite charity.
Joe
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by PeterL on May 23, 2008, 3:55 pm
Please log in for more thread options On May 23, 12:33 pm, tpze...@gmail.com wrote:
> Hi all,
>
> I have been laid off from my job a few months ago. I took some time
> off from work and now I am slowly getting back to job search. I was
> informed that I am eligible for unemployment insurance. My husband
> works and makes good money, i.e. we don't really need the money. My
> adviser tells me it is OK since the money is supposed to come back
> from my previous employer when I was working. We feel a little uneasy
> about collecting the money. Should I just take it as a benefit that I
> earned while I was working or should I not get it? I mean am I
> preventing someone else who might me in more need? What are the things
> that can help me decide what to do? Thanks.
>
It's a benefit you earned while working. You are not preventing
someone else from getting this insurance should you claim it.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Harlan Lunsford on May 23, 2008, 5:27 pm
Please log in for more thread options tpzelda@gmail.com wrote:
> Hi all,
>
> I have been laid off from my job a few months ago. I took some time
> off from work and now I am slowly getting back to job search. I was
> informed that I am eligible for unemployment insurance. My husband
> works and makes good money, i.e. we don't really need the money. My
> adviser tells me it is OK since the money is supposed to come back
> from my previous employer when I was working. We feel a little uneasy
> about collecting the money. Should I just take it as a benefit that I
> earned while I was working or should I not get it? I mean am I
> preventing someone else who might me in more need? What are the things
> that can help me decide what to do? Thanks.
>
So many people would just take the money and run. In fact, they would
take it, and not even consider or remember or KNOW that it is subject to
income tax. If your tax bracket is 28% federal, you can see now that
you'll net only 72%, unless your state also taxes it; and some do.
So then, if you don't really need it, why not take it anyway, and donate
to the tax deductible charity of your choice? In that way your state
will be helping your charity fulfil their mission.
ChEAr$,
Harlan Lunsford, EA n LA
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by removeps-groups@yahoo.com on May 23, 2008, 6:41 pm
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> So then, if you don't really need it, why not take it anyway, and donate
> to the tax deductible charity of your choice? In that way your state
> will be helping your charity fulfil their mission.
If they donate to a tax deductible charity they get a deduction for it
too, so in that case they can donate more than what they receive in
order to truly even out -- like on 12k unemployment you could donate
12k/.75=16k, assuming you are in the 25% tax bracket (ie. deduction is
25% of 16k = 4k). But one would have to run the numbers through a
computer program to see the effective on standard deduction, phaseout,
state tax, etc.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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