• Question
  • I still working on my own business but after 20 years in the same area probably we have to close

    Asked by a 85 year old man from Cocoa, FL on 6/28/2012

    I still working on my own business, but after 20 years in the same area, probably we have to close, because is going very bad. Every month we are losing money.if we close can I collect unemployment? Thanks for your analysis

  • Categories: Self Employment, Work and Retirement


  • Editorial 


    San Francisco, CA

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  • We are sorry to hear about your situation!

    Your question is probably best handled by your state's unemployment office, a tax attorney or accountant or financial advisor. Here is a listing of state unemployment offices:

    Whether or not you can collect unemployment is probably dependent on whether or not you paid into unemployment -- how your business was structured, how you paid yourself, etc....

    Find financial advisor resources here:

  • Login to rate this answer:   Answered on 6/29/2012
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.