1st Quarter Unemployment Tax Bill ---- YIKES!!
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  1. #1
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    Default 1st Quarter Unemployment Tax Bill ---- YIKES!!

    So, just received in my the amounts due for my quarterly electronic tax payments due April 30th from my accountant.

    Fed Unemployment tax, $170.00 which is pretty much the same.
    Commonwealth of Mass. Paid Family Medical Leave Tax approx. $213.00 same as always.

    Mass Dept. of Unemployment quarterly tax........$2,134.00!!!!!!!!!!!

    The Mass Unemployment Tax is nearly triple what it normally is!

    For a shop with only 4 employees, OUCH!

    No wonder I can't hire anyone for nearly a month now........everyone is making too much money staying home!

    Ok, rant over..............carry on.

    Later,
    Russ

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    Doo you presently have people on layoff ?

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    Quote Originally Posted by digger doug View Post
    Doo you presently have people on layoff ?
    Not at all.

    The state made it quite clear they would be raising the rates due to the overwhelming need for assistance and the government shortfall to fund it since Covid hit, but damn.....that's a lot!!


    Having an employee on unemployment has a near negligible effect on your rate anyways. My accountant has explained this to us many years ago. If we had a revolving door of employees on and off, then it's a different game.


    Later,
    Russ

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    It looks like in MA you pay on the first $15K of earnings. If you gave any pay raises or are working a lot of OT, you will pay on more of that $15K in earnings this qtr.

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    Quote Originally Posted by Booze Daily View Post
    It looks like in MA you pay on the first $15K of earnings. If you gave any pay raises or are working a lot of OT, you will pay on more of that $15K in earnings this qtr.
    The amount due does decline for each subsequent quarter in the year, but, I certainly wasn't expecting it to be so much this 1st quarter.

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    I let the payroll company handle all that, I guess I better read some of it

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    I thought all that extra money for not working was free, I can't believe someone has to pay for it.

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    Quote Originally Posted by Dualkit View Post
    I thought all that extra money for not working was free, I can't believe someone has to pay for it.

    Yeah, but why am I the one?????

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    The overachievers have to pay for the flops, far from a new concept.

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    Quote Originally Posted by AJ H View Post
    The overachievers have to pay for the flops, far from a new concept.
    As much as I hate to say it the federal unemployment bonus, stimulus check program and extra child credit should have had way more oversight and went to people effected financially by Covid only. A lot of people got free money that were not affected by Covid in the least.

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    ANNNND - there maybe wasn't enough, or wasn't enough efficacy of delivery, of aid to the people who DID get trampled by covid and the reaction to it due to no fault of their own.

    For example in WA we had serious UI fraud ($100s of millions) while people with totally legit unemployment complaints were having great difficulty getting through to file a claim.

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    Quote Originally Posted by bryan_machine View Post
    ANNNND - there maybe wasn't enough, or wasn't enough efficacy of delivery, of aid to the people who DID get trampled by covid and the reaction to it due to no fault of their own.

    For example in WA we had serious UI fraud ($100s of millions) while people with totally legit unemployment complaints were having great difficulty getting through to file a claim.
    I could not imagine anyone had it rougher than people in the restaurant business and their vendors.

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    I have gotten three diff. letters saying my un employment has been aproved, tried to contact them three times, no help,just recordings, I NEVER applied for it. seems someone is scamming with my name...?
    Gw

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    Quote Originally Posted by Greg White View Post
    I have gotten three diff. letters saying my un employment has been aproved, tried to contact them three times, no help,just recordings, I NEVER applied for it. seems someone is scamming with my name...?
    Gw

    Seems to be happening more and more. Booze Daily posted about that happening to him recently in Ohio.

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    Well you have a reasion for no wage increases dont you???...Phil


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