If you are currently unemployed and receiving Unemployment Insurance, it’s important to remember that just as when you were employed, this money is considered income and taxed by both the Federal Government and the State of South Carolina. However these taxes are not automatically taken out, which can leave you with a scary tax bill at the end of the year.

Even knowing this, it is probably very tempting at the moment to not put money aside from each UI check since you’re going through a difficult time and most likely trying very hard to keep food on the table and your bills paid as you try to transition as quickly as possible to a new job.

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