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unemployment

Your Unemployment Benefits Will be Taxed

Your Unemployment Benefits Will be Taxed

The economic impact of the COVID-19 has been enormous.  Some estimates suggest over 30 million Americans have filed for unemployment benefits as a result of this economic impact. Normally when applying for unemployment, you would be eligible to receive a certain...
MI Sends Notices On Unemployment Compensation

MI Sends Notices On Unemployment Compensation

Michigan has started sending out this notice regarding unemployment compensation: “The Unemployment Insurance Agency records show you recently established a claim for unemployment benefits. This notice is to advise you that an addition to your weekly benefit amount,...
Controlling the unemployment tax costs

Controlling the unemployment tax costs

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...