Hiring this summer? You may qualify for a valuable tax credit
If you hire from certain “targeted groups” and get proper certification, you can claim the Work Opportunity Tax Credit (WOTC) on your 2019 tax return. You can claim it for eligible workers whose employment begins before January 1, 2020. Targeted groups include qualified veterans, eligible summer youth, the long-term unemployed, ex-felons and certain government assistance recipients. The maximum credit employers can claim ranges from $2,400 to $9,600 per hire. (For the $9,600 credit, an employee must be a veteran entitled to compensation for a service-connected disability and be unemployed for at least six months during the one-year period ending on the hiring date.) Contact us for help.
06 May 2020 - News