Work Opportunity Tax Credit (WOTC)
Work Opportunity Tax Credit (WOTC) Program is a federal tax incentive program that was designed to encourage employers to hire individuals with special employment needs.
Work Opportunity Tax Credit (WOTC) Program is a federal tax incentive program that was designed to encourage employers to hire individuals with special employment needs.
TCG will decipher and research by utilizing a proprietary national database of mapped incentives, tax credits and refunds. A typical report of this nature would take 80 hours or more of research and thousands of dollars in consulting fee’s.
Every state offers some form of state tax credits to encourage businesses to invest in certain areas or to hire employees from targeted groups.
The Indian Employment Credit (IEC) has a maximum of $4,000 per eligible employee. Employees who earn more than $40,000 are not eligible for this tax credit.
The Research and Development (R&D) Tax Credit remains one of the best opportunities for businesses to substantially reduce their tax liability.
On September 29, 2017, President Trump signed the Disaster Tax Relief and Airport and Airway Extension Act of 2017, H.R. 3823, which provides certain tax relief to taxpayers impacted by Hurricanes Harvey, Irma, and Maria.
The Empowerment Zone Wage Credit offers savings of up to $3,000 for all employees who live and work in one of the thirty (30) zones designated by Congress.
The Employee Retention Credit allow employers take a credit in the amount of 50% of up to $10,000 of an employee’s qualifying wages ($5,000 is the maximum credit amount). This credit then reduces your employer Social Security tax liability.