President Donald Trump, in his first joint address to Congress last night, mentioned several facts relevant to employers:
“Ninety-four million Americans are out of the labor force,” Trump said.
In addition, President Trump mentioned that “Over 43 million Americans are on food stamps.
These are important numbers and statistics when it comes to getting Americans back to work. CMS’s Brian Kelly states “President Trump mentioned getting people back into the workforce and incentives for businesses many times in last night’s address.”
Tools to help stimulate hiring such as the current “Path ACT” and the Work Opportunity Tax Credit legislation is a great first start. We look forward to increased incentives for building America’s workforce.”
How this relates to hiring and WOTC
The reported high unemployment rate, and the surprisingly high number of individuals on SNAP (food stamps) present opportunities for employers that are hiring in 2017.
Both categories, the long-term unemployed, the newest WOTC Target Group, and the SNAP recipients are eligible for a tax credit for the employer of up to $2,400 per qualified new hire. Based on our experience the level of qualified new hires is between 8-20%. There’s no limit to how many credits you can claim or qualify for in a single year (calculate your potential credit).
Contact CMS Today to Start Saving!
Contact CMS today to find out how we can help you make the most of the Work Opportunity Tax Credit’s available. Don’t miss out on savings! We’ve been helping companies maximize their tax credits since 1997. How much can we save you? Call 800-517-9099 or visit our website at www.cmswotc.com to learn more.