S-Corp Owner Unemployment Benefits?

[Dave Petes]

As with S-corps, I pay myself an industry average salary for my position (W-2 wages). Due to a downturn in business, we’re contemplating claiming unemployment. With our W-2 wages, is the right path to go through traditional unemployment or do we have to wait for the new Pandemic Unemployment Assistance (PUA) process for business owners and self-employed.

[Wayne Brooks]

 @Arlan Potter Glad you don’t give tax advice....as an S Corp  business, Yes we pay ourself a salary, $75k ish.  We pay ourselves like any other employee.....profits above that are not subject to self employment taxes. This is the way most S corps with a decent business do it.