Work Opportunity Tax Credits in the news:
5 More Reasons To Recruit Veterans
There’s a lot of talk these days about our social responsibility to support returning veterans. I absolutely believe we have a duty to do our part, but there are many reasons that also make it a smart business move. Take a look at these five reasons to recruit veterans:
Midyear Tax Planning: Drum Up More Business
The summer doldrums have set in. Aside from the occasional “emergency,” your office is quiet, as most clients pursue outdoor activities and tend to personal business. Tax planning is probably the last thing on their minds.
Ready, aim, hire: Secure tax credits for vets
Do you need to employ more workers for an expanding business? The tax law provides a generous “Work Opportunity Tax Credit” (WOTC) for hiring certain disadvantaged workers. But you might do even better than the regular credit. Strategy: Hire a qualified veteran. You may be eligible for a special credit that’s four times the size of the usual WOTC!
States push to provide some ex-felons a second chance
Walter Fortson is a young man with impressive credentials: He graduated with honors from Rutgers University this year and is headed to the University of Cambridge on a prestigious Truman scholarship. But on a typical job application, the first thing an employer might notice about Fortson is that he’s an ex-felon.
Hardee’s franchisee leverages tax credits for expansion
Saddle Peak LLC, an 11-unit Hardee’s franchisee based in Little Rock, Ark., recently opened its newest Hardee’s restaurant in Bryant, Ark. The company has opened four new Hardee’s restaurants in the past two years and plans to open three more in the next 12 months. To leverage this growth, the franchisee has leveraged new hire (WOTC) and state tax credits as part of its financial planning.
California Enterprise Zones Face Uncertain Future
Last week the California State Senate passed a proposal to overhaul California’s enterprise zones after Senate Democrats negotiated a series of last-minute amendments to mollify resistant lawmakers. The legislation, a priority of Gov. Jerry Brown, now faces an uncertain future in the Assembly.
CMS Streamlines Work Opportunity Tax Credit Administration
CMS streamlines and simplifies the WOTC application process for employers. CMS’s secure online WOTC portal allows your new hires to complete the WOTC questionnaire online in minutes. Employees sign the forms electronically. No paperwork required. With CMS’ Secure Document Submission, employers can upload any required documentation to a secure online portal, instead of mailing, faxing, or emailing the WOTC paperwork.
Frequently Asked Questions About the Work Opportunity Tax Credits
The Work Opportunity Tax Credit (WOTC) is a Federal tax credit incentive that Congress provides to employers for hiring individuals from certain target groups who have consistently faced significant barriers to employment.
Call Now To Sign Up and Save
CMS has helped companies save money on new hires by maximizing tax credits available through the Work Opportunity Tax Credit since 1997. There’s never been a better time to start saving. Call today to speak to a tax credit expert 1-800-517-9099.