Do I Have To Pay Taxes On My Unemployment Benefits?

Yes, you do. Unemployment benefits are taxed just like income. This also includes the extra six hundred dollars per week that is being given now in unemployment. This regulation might change by Congress, but as of now, all of your unemployment income is taxed at the federal and state level.

Am I Allowed To Deduct My Employee Expenses That Were Not Reimbursed As Itemized Deductions?

After the Tax Cuts and Jobs Act, which went into effect on January 1st, 2018 employees who receive W-2 income are not allowed to claim employee expenses or home office expenses as itemized miscellaneous deductions.

For more information on Tax Preparation, a free case evaluation is your next best step. Get the information and legal answers you are seeking by calling (864) 271-7940 today.

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