Can the WOTC save tax for your business?

The Work Opportunity tax credit (WOTC) can save tax when you hire from “target groups.” If you made qualifying hires in 2016 and obtained proper certification, you can claim the WOTC on your 2016 return. Also keep the WOTC in mind in your 2017 hiring. Examples of target groups include the long-term unemployed, qualified veterans and certain government assistance recipients. The credit amount depends on the target group, wages paid and hours worked. It’s generally $2,400 per hire but can be as high as $9,600 for certain veterans. Contact us for more information.

This entry was posted in Blog. Bookmark the permalink.

Comments are closed.