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As of Oct. 2010, employers pay taxes on the first $26,000 of each employee's wages at the average rate of 1.33%. The rate is adjusted from a low of 1/4 0f 1% (0.25%) to a high of 5.4 % based on the experience factor (frequency they lay workers off). Presently 56% of employers pay the minimum 0.25%. The taxes paid by the employers cover the first 26 weeks of unemployment, and of the present 99 week eligibility that some workers are entitled to, the Federal government pays for the remaining 73 weeks.
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Should an employee pay unemployment taxes?
No, Employers pay it.
Where does unemployment money come from in Texas?
The state of Texas pays your unemployment benefits and, in turn, collects the unemployment taxes from the employers
Is Medicare taken out of your unemployment check?
No; Medicare is paid for by payroll taxes and employers and employees.
Can unpaid unemployment taxes be garnished from current unemployment checks?
Depending on the state, if it is overpayment of benefits due the state then probably yes. Otherwise, unemployment taxes are levied against the employers, not the employees so there would be no garnishment in that case.
How is state unemployment funded?
Employers deduct a portion of employees' paychecks to deposit into an unemployment insurance fund each pay period.
Who is the payer for unemployment?
The employer pays the state through payroll taxes (or directly) and the benefits to the claimant is income taxable.
Do employers pay into your unemployment benefits if you are part-time?
Your benefits will be reduced, but by how much depends on the state you work in.
Do you have to file unemployment taxes this year?
If you got unemployment in 2012 you do have to file taxes if you didn't have the taxes taken out of the unemployment you received.
Does an employer have to pay when you apply for unemployment?
Yes, only the employers and not the employees. However, there are classes of employers not subject to payroll taxes if they employ independent contractors, or some seasonal work, etc. Each state decides its own classification.
How can you figure the taxes for unemployment wages?
If you are an employer paying unemployment taxes to the state you do business in, contact that office. If you are an unemployed worker, there are many free tax preparers available to help with your returns regarding your unemployment compensation
How do you journalize the entry to record accrual of payroll taxes 198.40 FICA taxes 19.84 federal unemployment taxes and 133.92 for state unemployment taxes?
debit taxes expenses 352.16credit payroll taxes 198.4credit unemployment tax 19.84credit state unemployment 133.92
What are the benefits for employers who choose outsourcing of data entry jobs?
The man benefit for employers is that they no longer have to pay unemployment taxes and social security. This is also a major reason why they classify many workers as independant contractors.
