Hiring? Get Tax Savings to hire!
Ready expand your team & SAVE MONEY!!
The tax code is filled with incentives for helping those in need.
One in particular gives you a TAX CREDIT for hiring certain types of employees...
The credit is:
Work Opportunity Tax Credit (WOTC)...
...the groups of people that we are incentivized to hire are called "Targeted Groups"
Some of those Targeted Groups are:
Veterans
Unemployment Recipients (more than 27 weeks)
Ex-Felons
Summer Young Employee (age 16-18) living in an Empowerment Zone (high poverty & unemployment area)
Most of the credits max out at about $2,400 per employee for the first year...
...However for Veterans...
...those credits can be as high as $9,600 per employee for the first year.
Like most tax credits & tax deductions...
...there are rules, paperwork & record-keeping.
So this one has lots of rules, limits and paperwork to be filled out.
However, this can be HUGE tax savings for you!!
Want more info on this tax strategy?
Schedule a FREE call...we can give you more guidance of the rules!
Best
Pat
Disclaimer: This is meant to be educational ONLY. This is NOT advice for your specific situation. Please consult a qualified financial & tax professional before making any changes to your tax or financial plans.