Monday, August 8, 2011

What taxes will I be required to pay if I'm unemployed?

I'm not sure which taxes exactly you'll have to pay, but unemployment gives you the option to have 10% taken out of your unemployment check. How they split it up, you'd have to ask them. I do know that you'd have to opt into COBRA to continue your medical benefits. What the percentage is, i don't know, but i do know that COBRA payments are high, and if you can afford it, get it, but most people i kow choose not to get it. Though i don't know what your financial situation is, if it were me, i'd keep my job! Going to school is good, but you're already ahead of the game by being employed. Take it from a fellow Jerseyan that's unemployed!

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