Month: November 2020
How WOTC Improves Your Bottom Line
The Work Opportunity Tax Credit (WOTC) is a tax credit available to employers who hire marginalized workers belonging to a particular target group, facing significant barriers in their quest to find employment.
Why Is It Better To Hire A Tax Credit Specialist Than Do It Yourself?
Filing your taxes is no walk in the park. Not only do you have to really know your math, but the Internal Revenue Service (IRS) has a lot of rules and policies that you need to be well acquainted with.
Debunking the Myths of Cost Segregation
Chances are slim that you’ve heard of what cost segregation is, and they’re even slimmer that you’ve heard the right things about it. According to the American Society of Cost Segregation Professionals, cost segregation includes identifying property components and assets under the federal tax code and assessing whether they qualify for accelerated depreciation, which lowers …
Could Your Business Benefit from an R&D Tax Credit?
Your small or medium-sized company plays an essential role in generating the US economy. According to a report by the Office of Advocacy US Small Business Administration, small and medium enterprises create more than two-thirds of new net jobs. However, you may face harsher challenges on the business front than your more powerful and wealthier enterprise …
Could Your Business Benefit from an R&D Tax Credit? Read More »
Why the Work Opportunity Tax Credit (WOTC) could be the Relief Your Business Needs
COVID-19 has brought about a frightening situation for big and small companies. The lockdown imposed across the US has put an abrupt halt to many businesses. However, in these uncertain times, an increase in essential job opportunities has been seen. If you own a grocery shop or run a delivery service, you should look at the …
Why the Work Opportunity Tax Credit (WOTC) could be the Relief Your Business Needs Read More »
How Does the Work Opportunity Tax Credit Work?
Work opportunity tax credit (WOTC) is a federal tax credit program available to employers who hire individuals from a specific employee group facing significant barriers to employment. Three factors affect the tax credit that includes the category you hired your workers from, the wages you’ve paid to the workers in their first year of employment, and …
Taking The Leap: How Does R&D Tax Credit Benefit You?
The world today is significantly different from how it looked 100 years ago. We have mobile phones, the internet, multi-use rockets, robotic exoskeletons, and touch screen glass—everything that seemed impossible during the last century.
How Real Estate Investors Pay Less in Taxes with Cost Segregation
You may have heard people say that the tax system favors the rich. While that is a gross generalization, it’s useful to note that the tax system has hidden benefits for people who know the drill. Fortunately, learning the intricacies of tax code isn’t that challenging.