Job Loss Pointers

If you’ve recently lost your job, here are a few pointers.

Check with your state unemployment office to find out about the full extent of your unemployment benefits.

When you begin to receive unemployment checks, be aware that this money is fully taxable, except for the first $2,400 which is tax-free. This tax-free designation on $2,400 in income is part of the IRS stimulus packages designed by the Bush Administration and Obama Administration.

Depending on when and how you lost your job, you could be eligible for COBRA health insurance benefits, and you might only be responsible for 35% of the monthly payment.

Watch out for stimulus frauds and scams, as they’re becoming more prevalent as more people become more desperate.