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 …
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.
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.
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.
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 …
Why the Work Opportunity Tax Credit (WOTC) could be the Relief Your Business Needs Read More »
Running a business isn’t just about managing production costs and providing quality services that bring in more customers. An important part of running a business includes employing and understanding various tax strategies that can help your business thrive and progress—which is a tedious process that needs to be handled carefully.
The Federal Tax Code underwent a few changes in 2017, which introduced alterations for taxpayers that have been covered extensively by the media.