Work Opportunity Tax Credit (WOTC) $1,200 to $9,600 Per Qualified Employee

WOTC is a Federal tax credit created by the Small Business Job Protection Act of 1996 and the Welfare-to-Work Tax Credit of 1996. This credit is available to employers who hire and retain from target groups. Employers claim about $1 billion in tax credits each year under the WOTC program. There is no limit on the number of individuals an employer can hire to qualify to claim the tax credit, and there are a few simple steps to follow to apply for WOTC. http://www.doleta.gov

What Types of Employees Qualify?

  • Veterans
  • TANF Recipients
  • SNAP (Food Stamp) Recipients
  • Designated Community Residents (living in Empowerment Zones or Rural Renewal Counties)
  • Vocational Rehabilitation Referral
  • Ex-felons
  • Supplemental Security Income Recipients
  • Summer Youth Employee (living in Empowerment Zones)
  • Qualified Long-Term Unemployment Recipients

How are the Tax Credits Calculated?

Employers generally can earn a tax credit equal to 25% or 40% of a new employee's first-year wages, up to the maximum for the target group to which the employee belongs. Employers will earn 25% if the employee works at least 120 hours and 40% if the employee works at least 400 hours. The average benefit per employee is $2,400.00.

Does My Candidate Qualify for WOTC?

The only way to know is by screening the candidate which we can set you up to do for as little at $19 per month. Contact me to set up a quick five minute demonstration.

Joe Tufo

925.352.6000

joe@joetufo.com josephptufo@gmail.com

http://www.workingcapitalfast.com

http://www.gmgsavings.net/index.cfm?id=161423 Our Average Client Receives $240,000 in Tax Benefits!

http://www.stryde.me/161424 WOTC Tax Credit to $9,600 Per Newly Hired Qualified Employee

Providing Business Owners Tools for Employee Tax Credits and Cost Savings

#Money Available, #Next Generation Funding, #Funding, # Franchise Funding, #Medical Financing, #Hotel, #Motel, #Resort, #100% Funding, #Commercial Loans, #Commercial Investments, #Business Consulting, #Business Funding, #Commercial Real Estate, #Specialized Tax Incentives, #Expense Reduction, # WOTC Tax Credit

#LinkedInProfile, #LinkedInSummary, #LinkedInTips, #LeadGeneration, #Sales, #Marketing, #BusinessDevelopment, #LinkedInMarketing, #LinkedInBook, #LinkedInTraining, #LinkedInExpert

About the Author Joe Tufo