Wouldn’t it be great to hire new employees and get paid for doing it?
Well, the opportunity exists with the federal Work Opportunity Tax Credit
TRUSAIC does the work for you through TaxAdvantageSM
Work Opportunity Tax Credit
Enacted in 1977 as the Targeted Job Tax Credit (PL 95-30), The Work Opportunity Tax Credit (WOTC) is a federal tax credit available to employers who hire individuals from specific target groups who have consistently faced significant barriers to employment. Any business can earn tax credits by hiring individuals who fit one of the program’s target groups such as veterans, disabled persons and persons receiving government assistance.
How WOTC helps your business
Employee applicants are screened to see if they qualify. If they do, employers can earn up to $9,600 in federal tax credits per hired employee. WOTC income tax credits can be applied quarterly and annually against federal income tax liability and unused credits can be carried forward 20 years or carried back one year. U.S. employers claim about $1 billion in tax credits each year utilizing the WOTC program.
Contact us to review your options today.
WOTC stimulates business
and community growth...
The Work Opportunity Tax Credit can help improve your bottom line as a business, but it can also play an important role in improving life in the communities in which you operate your business.
Employers participating in WOTC help to ensure that everyone in America is given a fair chance for employment opportunities. By according the opportunity to work, employers make a significant contribution to creating a positive environment in communities while reducing their income tax liability.