I know that understanding taxes is crucial, Lorie. Allow me to share some information that can help you determine whether you need to pay the Federal Unemployment Tax Act (FUTA) or not.
FUTA taxes are paid solely by the employers only if you pay $1,500 or more to employees in a calendar quarter.
Since you've mentioned that you're a self-employed family, it's best to reach out to your state agency or tax advisor to determine if you need to pay for FUTA. They can provide you with more detailed information on FUTA regulations and help you stay compliant with tax laws.
Feel free to check this article as further details are being shared: What is FUTA?
Additionally, I've got an article on how you want your payroll taxes and filings handled: Pay and File your payroll taxes and forms.
I'm here to help you further whenever you require assistance with your taxes. Kindly utilize the reply button below. I'll make sure to back you up.
