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How a layoff can affect unemployment taxes next year and in the long-term along with how one can reduce unemployment taxes after a layoff with outplacement.<br>Download the complete whitepaper http://info.risesmart.com/pb-dl-the-unspoken-cost-of-layoffs
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“In business nothing can be said to be certain, except layoffs and taxes.” — what Benjamin Franklin might say today LAYOFFS: Are You Cutting Costs Now Only to Drive up TAXES Later? Here’s how layoffs can affect your unemployment tax responsibility—and what to do about it.
How Unemployment Costs Add Up Higher taxes next year to replenish your reserves Unemployment taxes contribute to an unemployment reserve against which unemployment claims will be drawn. Less money in your unemployment reserves More claims made
A Layoff This Year Affects Taxes Next Year The more people you lay off and the longer people are laid off, the more unemployment claims made against your reserves—and the higher your taxes the following year. The length of an employer’s responsibility for meeting unemployment claims 26 WEEKS The average length of unemployment in the US
How a Layoff Affects Taxes in the Long-Term Employers are responsible for at least a portion of their former employees’ unemployment claims for a period of time after that employee has landed a new job. If the former employee is laid off by their new company, former employers pay a percentage of that employee’s unemployment claims. This further depletes the unemployment reserves and drives up unemployment tax in the coming year.
To Mitigate Tax Risk, Your Employees Need • Shorter time to landreducing the length of unemployment claims made against your company • Better fitting, stable rolesreducing the chance that they will face a layoff in the next few years How can you shorten landing times, help employees land more stable roles, and potentially reduce unemployment taxes after a layoff? Download the White Paper to learn more >
