Jobs have been fleeting the last few years. Fortunately, unemployment benefits have provided a safety net for many people. Most people don’t realize that the taxability of these benefits is an issue.
The Great Recession has move through practically every financial industry and the end result has been huge increases in unemployment numbers. As I am writing this, the unemployment rate stands at just under 10 percent. That is staggering. It means roughly 1 in 10 people are without a job. Many others are working part time or reduced hours and thus are not counted as unemployed. All and all, it is a fairly dire situation and one can only hope business picks up and jobs start being created. Continue reading ‘Are Unemployment Benefits Taxable?’ »