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Old 12-07-2012, 08:50 AM
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Location: Oviedo/Orlando
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Quote:
Originally Posted by Ijustwantausername View Post
Roger, or somebody, could you explain in more detail the "unemployment insurance?" What is that? I'm a sole proprietor but hope to hire a part-timer next year. Would I pay out of pocket for unemployment for part time or full time?
You will pay quarterly to the state. They will send you a form would be my guess no different than they do here, asking how much the employee made for the period. Then you will pay a % of that dollar amount into them for that quarter based off the payroll dollars I believe.
If you have a accountant you can simply send your payroll to them each week and they will hold all figures until the quarterly is do, they will then figure what you need to pay in. It is not a large factor in the scheme of things so do not worry about it being too much.

My suggestion to you is to get a additional bank account set up for payroll taxes. This is what I do. Each week when I pay him I put his portion, my portion, of all taxes into it. Then when it comes time to pay the quarterly taxes it is not a unexpected expense that I have to worry about as the money is already there and accounted for. Keeps things simple.
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