This year, with so many business challenges, we wanted to share how you can gain significant 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 groups. This includes Veterans, SNAP (food assistance), long-term unemployed, and more.
WOTC Eligibility Before COVID-19
Prior to COVID-19, approximately 20%-25% of your new hires were eligible for WOTC. Now, due to COVID-19, 25-35% of your new hires will be eligible for WOTC!
One of the many great benefits to participating in WOTC is you, as the employer, not only gain real usable tax credits but provide jobs for individuals who really need a paycheck. With more people out of work, statistics prove many are looking for government assistance. WOTC means retention. Being an employer who participates in WOTC gives people a chance to get off government assistance and gain thankful and loyal employees.
Why Not WOTC?
“I don’t have a Federal tax liability.” Great! You can carry credits earned forward up to 20 years!
“I don’t hire WOTC eligible candidates.” You probably do – it takes 30 seconds to screen employees. Why not be certain you’re not missing WOTC dollars?
Get Help to Gain Thousands More in Tax Credits
If you are not taking advantage of WOTC, let us show you how we automate the WOTC process. By automating, you can earn up to $9,600 per eligible employee. Rest assured, there is no additional work for your Managers or your HR Administrators. We take care of the entire process, and you reduce your income tax liability significantly!
We urge you to get in touch with our sales team today to learn more about the Work Opportunity Tax Credit Program. Setup and support won’t cost a thing!