Beware: UI asks for GROSS weekly earnings

JustALilBit

New Member
I saw some people debating about gross or net but, when you certify, the website specifically asks about self-employed GROSS income.
 

Noonespecial

Well-Known Member
Yes. As a contractor your gross income is in fact total revenue - total expenses. The income you would legally report would be the same amount you use to calculate quarterly tax payments. Since this is the first time ever that a contractor could receive unemployment you should definitely use the same calculations otherwise you could, in theory, receive notice several months from now that you were "overpaid" and then be expected to immediately return hundreds or even thousands of dollars to TWC. I wouldn't take that chance.
 

Ziggy

Well-Known Member
Not to mention if TWC overpaid you they would likely add fines, penalties and interest to the amount
 

Universal Driver

Active Member
Funny thing is I reported a few hundred dollars I made doing doordash last month and they still gave me the full UI AMOUNT even though I made additional money.... don’t know if it was a glitch or not But I have not been working since April.... regardless 2021 income taxes are going to be a MESS! Only Jesus knows what the future has in store...
 

RobLinn

Active Member
There is no real debate about how the self employed report their “Profits”

The TWC clearly explains how Self Employed are to report in this handy tutorial


As shown on Page 5 you must report,


 earnings from any odd jobs or side jobs that you work while unemployed;
 net profits (money remaining after paying all expenses); and
 zero dollars ($0) earned if you worked but have no profits to report.

Page 12 details how self employed are to report “Net Profits”

Since we are self employed 1099 contractors we are not paid “Earnings” from Uber or Lyft

The money we get is considered “Profits” from the rides we give (same as when filing IRS tax returns)

so yes we report “Net Profits” (After expenses)

here’s the bonus,

even when the $600 Fed runs out we can still collect the $207 per week as long as you zero out your “Profits” on a weekly basis (until the DUA runs out in December)

so based on the TWC’s own instructions that’s what we report as Self Employed

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I saw some people debating about gross or net but, when you certify, the website specifically asks about self-employed GROSS income.
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if your not estimating your deductions on your quarterly taxes your doing it wrong 🤷🏻‍♂️

It’s standard to estimate your quarterly tax deductions when reporting your profits to the IRS (usually most drivers don’t file quarterly taxes as you don’t have penalties at the end of the year if you show a “Profit Loss” on your 1040)




Yes. As a contractor your gross income is in fact total revenue - total expenses. The income you would legally report would be the same amount you use to calculate quarterly tax payments. Since this is the first time ever that a contractor could receive unemployment you should definitely use the same calculations otherwise you could, in theory, receive notice several months from now that you were "overpaid" and then be expected to immediately return hundreds or even thousands of dollars to TWC. I wouldn't take that chance.
 
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