There are many tax incentives offered to employers who are creating jobs in our current economy and they can differ depending on what state, county, city or 'zone' your business is in. The Work Opportunity Tax Credit is a federal tax credit that is certified through each state's Department of Labor and is specifically designed to reward employers for hiring from a category of citizens that historically are 'hard to hire'. If you are missing out on the WOTC, what other benefits could you be missing out on?
For example, in Tennessee the state offers a tax credit for jobs created based upon your capital investment amount. In Georgia, business owners are rewarded based upon starting up in certain 'zones' of the state. None of these credits are easy to obtain and none of them are designed to be the most time efficient of processes, especially for busy business owners.
Unfortunately, not all tax agents or accountants are up to speed on the front end of these credits. Sure, they can claim them for you, but there are often earlier deadlines that have to be met in order to claim them down the road. Make sure you are aware of all you are entitled to for creating jobs in 2013.
Tuesday, April 30, 2013
Thursday, April 25, 2013
Monday April 29th is the absolute deadline for all WOTC applications resulting from the IRS Extension! All application paperwork for anyone that was hired from 01/01/12-03/31/13 must be postmarked to your WOTC Coordinator's Office by Monday. On Tuesday April 30th, we return to the 28 day deadline for all 2013 applications. Don't miss out on your money again. It's yours. You earned it.
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