Are you an employer looking to hire staff in your company? Are you aware that there’s a federal tax credit available to you?
If you hire someone from a targeted group, the Work Opportunity Tax Credit is issued by the Internal Revenue Service for hiring someone in specific categories, such as an ex-felon, veteran, youth, or even someone unemployed for some time. They do have to certify so that you qualify for this deduction, and it is offset against your income tax or payroll tax liability for your Social Security.
If you have questions about this credit, you can look at irs.gov and search the Work Opportunity Credit, or find the link in this blog below. If you have additional questions, feel free to reach out to our office at www.abandp.com, (310) 534-5577, or [email protected].
For more information on the specifics of the credit, see https://www.irs.gov/businesses/small-businesses-self-employed/work-opportunity-tax-credit
