Managing finances can be challenging for non-profit organizations. Fortunately, tax credits are available that can help non-profits save money and reinvest it in their mission.In this article, we will explore some of the federal and state tax credits that non-profits can take advantage of, as well as other tax credits and exemptions that can benefit…
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The Research and Development (R&D) Tax Credit is a valuable tax incentive program that rewards businesses for investing in innovation. The credit is designed to encourage businesses to conduct research and development activities that will lead to new or improved products, processes, or software. Here are some key things business owners should know about the…
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The Work Opportunity Tax Credit (WOTC) is a valuable incentive program to potentially reduce your tax liability while making a positive impact in your community. As a small business owner, you have the opportunity to uncover the immense benefits and potential that tax credits can have on your business. In this article, we’ll break down…
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Business owners understand the importance of efficient tax credit processing for their businesses. Not only does it help to save time and resources, but it also reduces the risk of errors that can lead to costly consequences. Here are some steps that a business can take to streamline their tax credit processing and minimize the…
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Tax season is upon us, and it’s a great time to remind all small business owners to consider working with your tax consultant throughout the year to make sure you’re getting access to all the tax credits available to you. At Tax Credit Group, we are frequently asked about the value of tax credits for…
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As a business owner, it’s important to be aware of all the tax incentives that are available to you. One such incentive is the Work Opportunity Tax Credit (WOTC), a federal tax credit for employers that hire individuals from specific groups that have historically faced barriers to employment. Eligible Employee Groups Eligible employee groups for…
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As a tax credit consultant, it is our job to help businesses navigate the complex world of tax incentives and deductions. We specialize in helping employers take advantage of the many lucrative tax incentives available to them. In this article, we will be sharing some of the key incentives that employers should be aware of…
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The Importance of Corporate Incentive Programs It is common for local, state and federal government entities to offer tax incentive programs to recruit businesses to designated enterprise zones (also called empowerment zones) to stimulate growth. Additionally, in many states, employers are provided opportunities to participate in programs that support the economic development within their community…
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Here’s a brief look at the WOTC certifications to date for 2020. Over 1.6 million certifications were issued for 2020. 1.1 million certifications were issued for SNAP recipients. This accounts for just over 68% of all certified groups. The smallest target groups were the summer youth recipients, which none were certified and the disabled veterans…
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There’s no doubt that COVID has dealt the nation’s economy a tough blow. Case in point are the sheer number of jobless claims made nationwide since the pandemic began. Just five months ago, unemployment sat around three to four percent. According to the U.S. Bureau of Labor Statistics, in June, states’ unemployment numbers averaged more…
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