Did you know the federal government will actually pay you to hire certain individuals? The Work Opportunity Tax Credit (WOTC) is a tax incentive program that motivates employers to hire and keep employees from specific, targeted groups. Hiring members of these groups can be worth $1,200 to $9,600 a year. Many employers are already hiring these individuals, but are not taking advantage of the tax credit because of the complex government regulations.
Maximizing employment tax credits can be a full-time job—made more difficult with new and evolving laws. Few employers have the resources to manage the time-consuming and complex regulatory challenges associated with the WOTC. That is why we partner with our clients and the experts at TALX to provide efficient solutions to administer the WOTC program. While you focus on building your team, we can focus on supporting your bottom line with the tax credits you deserve.
Why Choose ESG When it Comes to Tax Credits
1. Cost-effective: We only charge you if a tax credit is actually received.
2. Simple: Just complete an initial data sheet and have all new hires complete 2 forms.
3. Authoritative: Our experts stay on top of government regulations and alert you of any changes.
4. Seamless: Monitoring system is already built into our payroll data program.
5. Quality Control: This program maximizes the tax credits your company deserves.
Targeted Groups Who Qualify for WOTC
These are the targeted groups that qualify for WOTC. For each eligible employee you hire, your business can qualify for a tax credit of up to $9,600 during the first year of employment.
Long-term Temporary Assistance for Needy Families (TANF) recipient
Short-term TANF recipient
Supplemental Nutrition Assistance Program (SNAP) recipient
Designated Community Resident
Vocational Rehabilitation Referral (individual with a disability that graduates from a state-certified agency)
Supplemental Security Income (SSI) recipient
Summer Youth Employee
The WOTC program is a federal program that requires renewal by Congress each year. It has been renewed every year since the program started, often retroactively. We are still waiting for the 2014 renewal approval. Please contact us
to set your business up for Work Opportunity Tax Credits.