Is unemployment taxed? What you should know about unemployment benefits and taxes
Your unemployment benefits generally are taxable at the federal level, but your state may or may not give you a tax break. Here’s what you should know.
Allison Martin is a contributor to Bankrate covering personal finance, including taxes, mortgages, auto loans and small business loans. Martin’s work began over 10 years ago as a digital content strategist, and she’s since been published in several leading outlets, including The Wall Street Journal, MSN Money, MoneyTalksNews, Investopedia, Experian and Credit.com. Martin, a Certified Financial Education Instructor (CFE), also shares her passion for financial literacy and entrepreneurship with others through interactive workshops and programs.
Your unemployment benefits generally are taxable at the federal level, but your state may or may not give you a tax break. Here’s what you should know.
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