Many new business that hire the first employee are surprised to learn about all the new expenses that come with him or her. There are FICA taxes to be paid, and workers compensation and unemployment taxes. Of the all the new taxes you get the pleasure of paying, your unemployment tax rate is the only […]
10 Ways a Small Business Can Control Unemployment Insurance
As we outlined in a previous blog post Employer Basics: Unemployment Insurance in Illinois, an established employer must pay a percentage of each employee’s wages, up to an annual base of $12,690, into the State’s Unemployment Fund and that percentage can range from 0.55% to 7.75%. This difference can be significant, a multiple of more than 14 times, […]