Cheney Free Press -
Commentary
Last updated 5/20/2021 at 10:09am
When Congress established the Federal Unemployment Tax Act (FUTA) in 1935, it was intended to provide temporary and partial income replacement for workers who lost their jobs through no fault of their own. It was supposed to be a “bridge” to a new job and not “in lieu of compensation” to remain jobless.
The coronavirus pandemic produced massive layoffs. The resulting economic downturn swelled the ranks of unemployed Americans by more than 14 million from 6.2 million in February to 20.5 million in May 2020, Pew Research reported. The unemployment rate jumped from 3.8 to 13 percent.
However, in the last few months with more Americans being vaccinated, our economy is catching fire only to find employers in frantic searches for people to fill job vacancies.
Cheney Free Press -
Last updated 5/13/2021 at 10:41am
When Congress established the Federal Unemployment Tax Act (FUTA) in 1935, it was intended to provide temporary and partial income replacement for workers who lost their jobs through no fault of their own. It was supposed to be a “bridge” to a new job and not “in lieu of compensation” to remain jobless.
The coronavirus pandemic produced massive layoffs. The resulting economic downturn swelled the ranks of unemployed Americans by more than 14 million from 6.2 million in February to 20.5 million in May 2020, Pew Research reported. The unemployment rate jumped from 3.8 to 13 percent.
However, in the last few months with more Americans being vaccinated, our economy is catching fire only to find employers in frantic searches for people to fill job vacancies.
Unemployment insurance intended as a bridge between jobs
Last updated 5/12/2021 at 7:58am
When Congress established the Federal Unemployment Tax Act (FUTA) in 1935, it was intended to provide temporary and partial income replacement for workers who lost their jobs through no fault of their own. It was supposed to be a “bridge” to a new job and not “in lieu of compensation” to remain jobless.
The coronavirus pandemic produced massive layoffs. The resulting economic downturn swelled the ranks of unemployed Americans by more than 14 million from 6.2 million in February to 20.5 million in May 2020, Pew Research reported. The unemployment rate jumped from 3.8 to 13 percent.
David Gargaro
Apr 23, 2021
To cover the costs of unemployment benefits for workers, employers are responsible for paying unemployment taxes as part of their payroll taxes.
Once you become an employer, you take on many additional responsibilities tied to managing employees. One of these responsibilities includes running payroll. A key aspect of managing your team s payroll is making sure you are withholding the appropriate federal and state taxes, especially state unemployment tax. Whether you are managing your team s payroll on your own or using a top online payroll solution to handle it for you, you should be aware of your state s unemployment tax and how it is calculated.
KXLY
April 19, 2021 7:00 AM MoneyTips
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It is an exciting time when you start your new business. You have so many things to think of that you may forget one of the most important aspects taxes. Before you dive into the business world, take a few minutes to consider the tax aspects of your new business.
Your tax obligations are strongly affected by the type of business structure you choose. Typical business structures include sole proprietorships, partnerships, C Corporations, S Corporations, or Limited Liability Corporations (LLCs).
Sole proprietorships, partnerships, and LLCs are reported using personal tax returns because profits are passed through to the owners. Other corporate structures require filing a corporate tax return. Corporate structures generally shield personal accounts from business debt but come with varying levels of tax reporting and complexity.