Thursday, November 7, 2013

Tax Credit Savings Account

We get a lot of questions in regards to how long the WOTC process takes. The benefits to eligible employers are unfortunately not immediate which is why it is important to get WOTC screening services in place so that you can use the credits in the future. Depending on your state office, Certification can take anywhere from 2 weeks to a year. Screening all your new employees for eligibility will determine and project estimated amounts you can save in 2014.

Having WOTC services in place at your business is a lot like opening a tax credit savings account. With every new hire that is WOTC eligible you have the potential to lower your federal tax liability. If you hire 100 new employees in 2013 and 20 are eligible, you have the potential to save $24,000.00. If you pay $12.00 an hour to new employees, you can save $3.60 per hour with WOTC credits. 

How does my business get started?
1. Call WOTC Solutions today.
2. Identify how to integrate WOTC screening into your current hiring process. 
3. Identify and screen all new hires within the past 28 days.

WOTC Solutions is very adaptable and wants to work with you to save not only money, but also time. Call us today and start saving tomorrow.

1 comment:

  1. The


    Work Opportunity Tax Credit
    is a federal hiring incentive for companies that employ individuals from the following target populations:

    Temporary Assistance for Needy Families (TANF) recipients
    Veterans
    Ex-felons
    Supplemental Security Income (SSI) recipients
    High-risk youth

    ReplyDelete