Research & development is one type of tax credit

A Small Business Owner’s Guide to Tax Credits: Which Ones Actually Work for You?

The IRS offers tax credits designed to reward the very things small businesses are already doing to grow. The tricky part is figuring out which ones apply to you. A tax credit is different from a deduction. Deductions lower your taxable income, while credits reduce your tax bill dollar-for-dollar. That means they can have a…

Screening new hires within specific target groups offers tax credit savings

A Guide to Savings: Employee Work Opportunity Tax Credit Screening 

You already know that the Work Opportunity Tax Credit (WOTC) federal tax incentive can translate into significant savings for your business by simply hiring individuals from specific target groups. But understanding that WOTC exists and actually claiming those credits are two different things.  The most important bridge between the two is the WOTC screening process.…