Unlike the Employee Retention Tax Credit (ERC) that came about as the result of COVID-19 and its effect on businesses, the Workforce Opportunity Tax Credit (WOTC) has been around since 1996. It only took ERC about two years to gain popularity, but almost three decades later, the WOTC is still mostly unknown. So what exactly is the WOTC and how can it benefit your business? I am glad you asked. It is a federal tax credit ranging from $2,400 to $9,600 per hire, available to employers who hire workers from a ‘targeted group.’ These are workers who may otherwise face…
Posts published in “Tax”
Everything you need to know about Guam's state income withholding tax, reciprocity agreements and other helpful information and links.
Everything you need to know about Puerto Rico's state income withholding tax, reciprocity agreements and other helpful information and links.
Everything you need to know about U.S. Virgin Islands state income withholding tax, reciprocity agreements and other helpful information and links.
Everything you need to know about Idaho's state income withholding tax, reciprocity agreements and other helpful information and links.
Everything you need to know about New Mexico's state income withholding tax, reciprocity agreements and other helpful information and links.
Everything you need to know about Hawaii's state income withhold tax, reciprocity agreements and other helpful information and links.
Everything you need to know about North Dakota state income withholding tax, reciprocity agreements and other important information and links.
Everything you need to know about Wyoming's state income withholding tax, reciprocity agreements and other helpful information and links.
Everything you need to know about Mississippi's state income withholding tax, reciprocity agreements and other helpful information and links.