Wondering what you need to know about income taxes and your unemployment benefits? Is the $600 boost taxable, how and when do you pay taxes on ui and pua, how much to set aside, and more. Do I Need To Pay Taxes on Unemployment + $600 Unemployment Boost in California
0:16 True start – Is unemployment taxable?
0:48 CA unemployment taxes
1:09 How do you pay UI taxes?
1:09 Checking the box on your certification to withhold
1:49 What if you DONT check the box to have taxes withheld?
2:28 $600 boost taxed?
3:00 I check the box to withhold taxes – isn’t the EDD withholding taxes on that boost?
3:36 Should I put aside MORE than 10%?
5:16 Will I receive a tax for from the EDD?
5:36 What if I pay estimated quarterlys
6:34 What about the $300 upcoming boost?
More info on 600 boost taxes: https://www.youtube.com/watch?v=jYXH_WD4UzM&lc=UgynNXSTvdVQNwyias94AaABAg
Department of Labor’s publication which states that the FPUC is taxable:
6. Taxable Income. The $600 FPUC is taxable. Therefore, states must include FPUC
when preparing 1099Gs, and must, consistent with Section 3304(a)(l8), FUTA (26
U.S.C. §3304(a)(18)), withhold taxes from the weekly benefit amount and from the
$600 FPUC, when an individual elects to have taxes withheld. as seen here: https://wdr.doleta.gov/directives/attach/UIPL/UIPL_15-20.pdf
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