When your job gets blown up

Lets face it .. The aftermath of you being laid off or fired sucks big time... I truly hate it. Being unemployed sucks ass, and if you are lucky enough to get unemployment benefits, well there are couple things that can make your new jobless life a little more miserable.  Besides the fact that you are now broke and perhaps couple checks from being homeless, Did you know that unemployment benefits are considered WAGE INCOME?  That means UNCLE SAM wants a fine piece of it.

        

   Feeling miserable already? I totally agree with you if you are. Not only you are getting a dingy amount of money but also you still you have to give some that little money away. How crazy is that? What about your bills? What about saving your self from becoming homeless? However, experienced Tax Preparers always suggest you to consider deducting Taxes from your unemployment benefits check in order to avoid unexpected radical whore sum on April 15 as your tax bill arrives.  How you do it? Well depends on your State, in California, the unemployment benefits office gives you the option to choose how much taxes you want to be withheld from your check. Usually, taxes are withheld at a rate of 10 percent for each unemployment payment.

  It is always best to be prepared to avoid any possible more stressful situations. Plan wise.

"this blog does not intent to provide with any legal, financial or tax advice, please consult to a lawyer or tax specialist"

For more information on Taxes please contact:
OREM TAXATION LLC
www.bookkeepingcertified.com 
818-448 9622/R:310-360-7268