WOTC

Work Opportunity Tax Credit 2020

By |2020-01-09T12:33:27-06:00September 20th, 2019|Accounting, WOTC|

The Work Opportunity Tax Credit (WOTC) is a federal tax credit available to employers for hiring individuals from certain target groups who have consistently faced significant barriers to employment. The target groups include unemployed veterans, ex-felons, designated community residents in Rural Renewal Counties (ages 18 to 39), etc. Some of the Rural Renewal Counties in [...]

What Accounting and Payroll Reminders Should You Keep in Mind for 2020?

By |2019-11-27T15:53:12-06:00October 16th, 2018|Accounting, Compliance, IRS, Payroll, Preparation, Tax, Tax Planning, WOTC|

The end of the calendar year will soon be upon us.  There are a few items to keep in mind as you begin to think about government forms that must be submitted in January. Bonuses Employers often give their employees holiday bonuses around the end of the year. It is important to remember that all [...]

Work Opportunity Tax Credit: Good for your Business and Good for the Nation

By |2019-05-14T09:43:03-05:00March 1st, 2017|Employment, Tax, Tax Services, WOTC|

When your business looks to hire employees, you may inadvertently overlook some specific groups who sometimes face barriers to employment. Enacted in 2015, the Protecting Americans from Tax Hikes Act (PATH Act) includes a provision that provides some incentives for your business to hire from these targeted groups of people. The Work Opportunity Tax [...]

You May Still Qualify for the 2015 Work Opportunity Tax Credit

By |2017-04-21T12:54:08-05:00July 1st, 2016|Employment, Tax, Tax Services, WOTC|

To encourage businesses to hire individuals from certain select groups, Congress Passed the Work Opportunity Tax Credit (WOTC) for employers. As they did for a lot of credits and other tax code opportunities, Congress did not renew the WOTC until late in 2015, but the extension applied retroactively back through the entire year.  In addition, [...]