Unemployment Tax

A job loss is bad but the tax implications could make it worse

Federal Taxes, Health Care Insurance, Incentive Stock Options (ISOs), Ordinary Income Tax, Unemployment, Unemployment Tax / Douglas Freeman

Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain industries including technology and media. If you’re laid off or terminated from employment, taxes are likely the last thing on your mind. However, there are tax implications due to your altered employment circumstances. Depending […]

A job loss is bad but the tax implications could make it worse Read More »

Understanding and controlling the unemployment tax costs of your business

Employees, Federal Unemployment (FUTA Tax, Small Business, Tax Credits, Unemployment Tax / Douglas Freeman

As an employer, you must pay federal unemployment (FUTA) tax on amounts up to $7,000 paid to each employee as wages during the calendar year. The rate of tax imposed is 6% but can be reduced by a credit (described below). Most employers end up paying an effective FUTA tax rate of 0.6%. An employer

Understanding and controlling the unemployment tax costs of your business Read More »