Did you know there's a way to make a good hire for your company and lower your taxes for doing it? It's the Work Opportunity Tax Credit or WOTC. WOTC is a tax credit for up to $9,600 that an employer can get for hiring someone who's facing a challenge getting a job. What does that mean? That means hiring some veterans, young people, people with disabilities, people who've received food stamps, and other individuals. There are details for which workers are eligible for WOTC at this website. These are people who want to get back to work and who can well, but just need the right employment opportunity to get started. And you can get a tax credit worth thousands of dollars for hiring them. So how does it work? It starts with you keeping your eyes open for workers who just need a chance to show you what they can do for you. When you're ready to hire, go to the WOTC website to check eligibility for the tax credit and for easy instructions on how to apply for it. It's a straightforward five-step process. There are two short forms to fill out, both going to your State Workforce agency. Once they certify your application, you file for the WOTC tax credit with the IRS, and that's how you end up with a good worker and lower taxes - up to $9,600 lower for each new employee hired that meets the eligibility requirements. It's a great opportunity, and that's what WOTC is about - the Work Opportunity Tax Credit. Learn more about WOTC at DOL ETA.gov/WOTC or call 877-872-5627.
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