Typically, when you lose your job, you can file for unemployment benefits. These benefits act as a temporary income to support you while you search for a new job or start a business. But where does this money come from? All federal unemployment insurance is funded by a payroll tax called the Federal Unemployment Tax.
We’ll cover the FUTA definition, why it’s important, and how to calculate it. We’ll even give you some tips on how to effectively manage FUTA taxes as a small business owner. Read on to learn all about FUTA or skip to any section using the links below.