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…
According to Payroll.org (formerly the American Payroll Association,) 93% of employees they questioned use direct deposit. My belief is that they only surveyed their members, payroll professionals. I doubt they surveyed real America and got feedback from the fast food worker, agricultural workers or the mechanic down the street. Not that payroll professionals aren’t real America, but you know what I mean. Based on what I find in practice, direct deposit is less than a 60% adoption rate. Maybe even much less than 50% because I am not looking at the small businesses that run their own payrolls in-house on…
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.