Understanding and Controlling the Unemployment Tax Costs of Your Business

By |2022-10-21T13:51:22-05:00October 11th, 2019|Better Guidance|

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 taxed [...]