Work Opportunity Tax Credit (WOTC)
This is a federal hiring incentive program that allows your business to receive up to $9,600 in tax credits per each eligible new hire.
Get StartedThe Work Opportunity Tax Credit Program rewards employers for hiring applicants who fall into various target groups. Depending on the qualifications of the individual, companies may be eligible to receive $1,200 to $9,600 per eligible employee per year upon hiring.
Ready for the good news? It’s likely that you’re already hiring individuals who meet the criteria for your business to earn these type of credits. On average, 1 in 5 new hires qualify your business for WOTC.
The tax credit may be worth up to $9,600 if your company is hiring from any one of the following groups:
Hiring incentives or tax credits have been in place since the mid-70’s. They were created by the government to motivate employers to hire job seekers that have difficulty obtaining employment. Tax credits range in value from $1,200 to $9,600 per qualified hire.
The Work Opportunity Tax Credit is a federal hiring incentive that provides a tax credit worth up to $9,600 if your company is hiring from any one of the following groups:
Tax credits off-set tax liability dollar for dollar. Some companies use credits in their tax planning to off-set quarterly estimated payments. Some companies use credits at the end of their tax year against annual tax liability. In the event of no tax liability, tax credits can be carried forward for up to twenty years. Consult with your tax professional for how to best use these incentives.
The life of a tax credit can be a year or more. The process begins with screening your new hires and ends with delivery of a certified and calculated tax credit. We manage this for you.
Synergi beats the competition when it comes to screening, eligibility, forms compliance, certifications, and reporting
Built right into the platform, we screen eligibility and sign forms as you process hires.