Increase Your Cash Flow by Providing Pivotal Opportunities
The Work Opportunity Tax Credit program rewards employers for providing opportunities to people who face roadblocks to employment or live in communities where jobs are sparse. Learn how to maximize your tax savings when hiring people from targeted groups.
Are you missing out on tax savings you’ve earned?
What is the Work Opportunity Tax Credit (WOTC)?
The Work Opportunity Tax Credit (WOTC) is a federal tax credit program that incentivizes employers to hire individuals from targeted groups that often face barriers to employment. WOTC provides a dollar-for-dollar reduction of income tax liability —and there is no limit to the amount of credit you can claim. With this ongoing program, businesses can save up to $9,600 per certified new hire.
Benefits of Claiming WOTC:
Provide Invaluable Opportunities
Get rewarded for providing employment to people who may not have access to many job opportunities.
Reduce Tax Liability
Receive up to $9,600 of income tax credits for each certified employee.
Claim Unlimited Credits
Claim the WOTC credit for each certified employee that you hire—there is no limit.
WOTC Program Target Groups
To qualify for the Work Opportunity Tax Credit, a State Workforce Agency must certify the new hire as a member of a specific targeted group. Some of these targeted groups are:
- Qualified veterans
- Designated community residents
- Summer youth employees
- Supplemental Security Income recipients
- Qualified long-term unemployment recipients
- Members of families receiving the Supplemental Nutrition Assistance Program
- Members of families receiving Temporary Assistance for Needy Families
What Omega Provides
Omega Accounting Solutions provides expert tax credit services to businesses of all sizes, performing a comprehensive qualification analysis and delivering an accurate, compliant, and IRS-defensible report.
With 15+ years of experience and expertise on federal & state tax incentives, Omega uses a holistic perspective to evaluate your overall tax strategy and find untapped opportunities to maximize your benefits each year. We help small and medium-sized businesses (SMBs) access tax consulting services typically only available to large corporations.
How It Works:
Discover the Power of Modern Tax Strategies
EVALUATE YOUR SAVINGS POTENTIAL
Ready to start saving with Omega’s WOTC experts? Fill out the form to request a complimentary discovery meeting with our experienced team of professionals.