Hey Business Owners! Get $6k per employee

Did you know you may get up to $6,000 per employee?! You may be eligible for the WOTC (work opportunity tax credit).

What is the WOTC?

The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to employers for hiring and employing individuals from certain targeted groups who have faced significant barriers to employment.

How to certify

An employer must pre-screen and obtain certification from the appropriate Designated Local Agency (referred to as a State Workforce Agency or SWA) that an employee is a member of a targeted group to claim the credit. To satisfy the requirement to pre-screen a job applicant, on or before the day that a job offer is made, a pre-screening notice (Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity Credit) must be completed by the job applicant and the employer.

Claiming the Credit

Taxable Employers:

After the required certification is received, taxable employers should provide the certificate to their tax professional so that the credit is applied on their tax return.

IRS article: https://www.irs.gov/businesses/small-businesses-self-employed/work-opportunity-tax-credit#:~:text=In%20general%2C%20the%20WOTC%20is,of%20services%20for%20that%20employer.

Video: https://youtu.be/AdidUSv9XwU?si=KLcE5DZRgjdQSCb0