Blog
June 1, 2023
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 […] Read more
Employment taxes, Hiring Vets, Tax Credits, Tax filing, WOTC Tax Credits, WOTC Update
May 1, 2023
Tips for Streamlining Business Tax Credit Processing
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 […] Read more
April 1, 2023
The Advantages of Tax Credits for Small Business Owners
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 […] Read more
Home Page Slideshow, Small Business, Tax Credits, Uncategorized
March 1, 2023
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 […] Read more
Employment taxes, Hiring Vets, Tax Credits, WOTC Tax Credits
February 3, 2023
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 […] Read more
January 19, 2023
Understanding State Tax Incentive Programs
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 […] Read more
April 30, 2021
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 […] Read more
August 2, 2020
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 […] Read more
May 15, 2020
How to Observe Memorial Day with Veterans
On the last Monday of May, Americans observe Memorial Day. But the purpose of Memorial Day is often lost on a large part of the American public. According to a 2019 survey conducted by Harris Poll on behalf of the University of Phoenix, only 55 percent of Americans know the true meaning of Memorial Day. What […] Read more
May 14, 2020
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 […] Read more
May 5, 2020
Why It is Better to Hire a Tax Credit Specialist than Do It Yourself
When we talk to potential clients, sometimes they ask us why a tax credit specialist is something they need. It is a great question. After all, they are usually already paying for a CPA and this is just an added financial expense. What we tell them is that a tax credit specialist is something completely […] Read more
April 26, 2020
Tax Deadline Extension FAQ’s
As I am sure you know by now, the 2019 tax deadline has been extended to July 15, 2020. We here at Tax Credit Group get a lot of questions about what that means for our clients and their taxes. So now seems like a great time to pull some of those answers together and […] Read more
April 26, 2020
Alternatives to Employee Layoffs
Businesses around the world are hurting right now and many business owners are struggling with the dilemma of whether to layoff employees now or try to ride things out with the hope that they’ll get better. It’s an unenviable decision. For most employers, these people are like a second family and it’s not easy to […] Read more
April 15, 2020
The Employee Retention Credit in the CARES Act
With shutdowns across the country, America has entered unchartered waters, and everyone is trying to figure out what it means for them. Lawmakers are doing what they can to help, but what ends up coming out of Washington, DC are massive pieces of legislation that cover millions of people but are difficult to understand. The […] Read more
April 7, 2020
Why the Work Opportunity Tax Credit (WOTC) Could be the Relief Your Business Needs
While most businesses across the country have come to a grinding halt as “stay at home” orders are put into place, there are some essential businesses that are desperate for employees. Grocery stores, delivery businesses and the like are searching for employees and can’t seem to find enough to fill the need. If you’re one […] Read more
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