Hey
Did you know? Businesses that hire people targeted under the Work Opportunity Tax Credit (WOTC) are eligible for a general business credit.
If you take advantage of this, you
can add a couple of thousands more to your business revenue. It is enough money to expand your marketing budget, renovate the office or buy office supplies to last for weeks, or months, depending on the size of your business.
If you hire unemployed and other disadvantaged employees, you may be eligible for 40% of up to $6,000 of wages paid to, or incurred on behalf of, these individuals.
Individuals who qualify are:
- Those in their first year of employment.
- Those certified as being a member of a targeted group; and
- Those who perform at least 400 hours of services for you
Targeted groups (that you can hire) under the WOTC are qualified IV-A recipients, qualified veterans, ex-felons, and summer youth employees among others.
The Work Opportunity Tax Credit (WOTC) is based on the first-year wages paid to anyone in the above groups, hired before January 1, 2026. You can grab this opportunity and get a business credit of up to $2,400 per eligible
employee.
Is this something you feel you can take advantage of? Call my
office at (202)618-1297 to know more about this. You can also get hold of me via this LINK.
