Efficient Hire
Did you know you could receive a tax credit for hiring individuals who have been unemployed? The Work Opportunity Tax Credit (WOTC) is a federal tax credit for hiring individuals from certain target groups who face significant barriers to employment—including individuals who have been unemployed for 27 weeks or longer. With unemployment skyrocketing, now is …
Yes, the IRS offers tax incentives for hiring people with disabilities. The government designs tax credits to encourage employers to hire disadvantaged individuals who might otherwise have difficulty finding a good job. Businesses that make a concerted effort to identify and hire qualifying workers can reap the benefits. They can qualify for thousands of dollars—potentially …
Some business owners are finding opportunities to give ex-offender second chances. Unemployment is low and the struggle to find candidates for open positions is high. Therefore, some business owners are broadening their scope to include ex-offenders. Not only does this help fill open positions. But it also opens the door to valuable tax credits. Reality …
You may know that there are tax credits available for hiring certain types of employees. However, you may not realize the level of value these incentives can bring to your company. What is WOTC? What is WOTC screening? How much can it impact my business? Is it worth the effort? What Is the WOTC Program Since …
Did you know you can automate the new employee onboarding process together with WOTC screening and processing all at the same time? This is considerably more efficient for employees, hiring managers, and HR administrators. But this automation also allows employers to generate significantly more WOTC credits than they could by using a separate WOTC processor. …
There is some good news for Texas employers! Due to the severe winter storms, you have been given a WOTC deadline extension. You will be able to submit WOTC applications for employees hired on or after January 14, 2021, up to June 15, 2021! Here are the details… The Internal Revenue Service (IRS) has granted …
In short, because the employee retention tax credit (ERTC) has been expanded and extended under new laws. The second round of PPP loans are available, and loan forgiveness is simplified – borrowers can allocate PPP loan proceeds to qualifying operating expenses (instead of just wages) and claim the ERTC, too! Now, let’s review the Employee …
After months of negotiations, the massive COVID relief bill was finally passed by Congress and is ready for the President’s signature. Among others, several provisions in the new bill will greatly benefit hourly employers: PPP second draw – 100% forgivable loan Restaurants can access 3.5x payroll – other businesses remain at 2.5x Greater flexibility in …
With so many business challenges right now, we want to share how you can gain significantly more in tax credits. These gains will help your company as you navigate through COVID-19 and beyond! The WOTC (Work Opportunity Tax Credit) Program provides significant tax credits to employers who hire individuals that are part of certain target …
The Department of the Treasury and the Internal Revenue Service (IRS) recently issued Notice 2020-23 that extends the due date for certain time-sensitive acts specified in Revenue Procedure 2018-58, 2018-50 IRB 990. The extension for WOTC means real dollars Under the extension for WOTC notice, employers that otherwise would be required to submit IRS Form …