How to Effectively Claim the Work Opportunity Tax Credit
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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The Benefits of Work Opportunity Tax Credits
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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Lucrative Tax Incentives for Employers
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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WOTC By The Numbers
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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Earn Credit for Hiring Unemployment Recipient
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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False Claims Act – How it Could Affect Your PPP Claim
When the CARES Act was announced, it ignited a glimmer of hope within the small business community. Many companies were either closed or saw their revenue drop drastically as a result of the novel coronavirus. But hope quickly disappeared as major corporations found a way to access the money that was meant for America’s small…
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