With WOTC, Timing is Everything!
Famed English actor Jeremy Irons said, “The secret to life is timing.” So too is success with the Work Opportunity Tax Credit!
Also known as “WOTC” (pronounced Watt See), the Work Opportunity Tax Credit rewards businesses with $2,400 to $9,600 in federal income tax credit when they hire members of a WOTC target group.
Have you considered the value of hiring the formerly incarcerated?The Work Opportunity Tax Credit (WOTC) might reward your business if you do (more about that later
And yes, when I say, “formerly incarcerated”, I mean ex-felons. People who’ve been convicted of a felony and paid the price. Many of them have emerged from that difficult experience with a new and improved perspective on their lives.
Numerous major employers make a point of hiring offenders after their release from custody. The following list contains just a few that have gone very public with their pledge. Recognize any?
This is a follow-up to my recent post about tax benefits employers earn by hiring military veterans. In addition to strong skill sets and personal characteristics, many veterans can bring an added financial benefit to their employer through the Work Opportunity Tax Credit (or WOTC).
Employers naturally have questions about how veterans qualify. How long must a veteran have served? What if they have a service-connected disability? What are the specific tax credit amounts? Today, I’ll go into these details.