Just what the heck is W.O.T.C. and can I use it in my US business?

WOTC allows employers to claim a credit against their federal income tax liabilities for qualified employees. 

WOTC can also be used to offset AMT (Alternative Minimum Tax). Employers generally can earn a tax credit equal to 25% or 40% of a new employee’s first-year wages, up to the maximum for the target group to which the employee belongs. 

The average benefit per employee is $2,400.00 and can be as much as $9600.00.

That means potentially 10 qualified employees could yield a federal income tax credit between $24K – $96K. 

Additionally, WOTC credits may be carried back one year and carried forward 20 years.

Simply put, the WOTC reduces an employer’s cost of doing business and turns Human Resources into a profit center.  

www.yourwotc.com

Need a commercial loan? Then know this......

...lenders need a real Executive Summary with numbers and Personal Financial Statements.

This might help:

https://www.smartsheet.com/executive-summary-templates 

Larry G. Potter
Larry@YourWotc.com


PS: US Commercial Property Owners/Managers Wanted

The Truth About R&D

There are a growing number of US businesses that now qualify for research and development tax credits, but not many are taking advantage of it.

What makes your business eligible for these deductions? Any firm with QRE or Qualified Research Expenditures.

Below is a list of some tasks that can be performed within an organization that would qualify for the R&D Tax Credit:

Manufacturing
Fabrication
Engineering
Software Development or Improvement
New Product & Process Development
Developing New Concepts or Technologies
Design - Layout, Schematics, AutoCAD
Prototyping or Modeling
Testing / Quality Assurance: 
ISA 900X, UL, Sigma Six, etc.
Integration of new machinery
(CNC, SLA, SLE, etc) into existing process
Automating /Streamlining Internal Processes
Developing Tools, Molds, Dies
Developing or Applying for Patents

Many business owners (even smaller firms) are not aware that restrictions to qualifying for R&D are decreasing year after year. Technology has become part of every business (just the other day I discovered a small local feed store is changing ownership and the new owner will be buying new computers, creating inventory programs and selling online).

Does your business use the internet, computers or tablets? If so, then you probably qualify for a R&D tax credit!

Find out now at:  www.BusinessRefundEstimate.com

What is W.O.T.C. and how can it help your business prosper?

WOTC is a financial incentive to employ people from target groups.  The tax credit also gives you an opportunity to reduce the unemployment rate while diversifying your business.

The Work Opportunity Tax Credit is tax credit available from the federal government. You might be able to receive the tax credit when you hire an employee from a “target group.”

Target groups are certain groups of people who face barriers when seeking employment. There are currently nine target groups:

*Veterans
*TANF Recipients
*SNAP Recipients
*Designated Community Residents living in Empowerment Zones or Renewal Communities
*Vocational Rehabilitation Referrals
*Ex-felons
*Supplemental Security Income (SSI) Recipients
*Summer Youth Employees living in Empowerment Zones
*Qualified Long-Term Unemployment Recipients

To see what your potential tax credits could be, visit  www.YourWotc.com

The BLS report should not be taken to seriously!

Yes, the BLS injected 263,000 jobs into the report, but that's via their "birth/death" model. Once again for anyone that doesn't know what that is, the BLS says "for every company that shuts down and lays off, some of those laid off go out and open a business. Then they hire people". So, with NO proof if these jobs, no tax receipts, etc, they just "guess" each month at how many that is!!!

Larry
www.BusinessRefundEstimate.com

Attention Commercial real estate owners! Find out in 10 MINUTES how we could save you as much as...

....$200,000 on every commercial property you own! Find out how much here: http://bit.ly/PropertyTaxBenefits

Brokers, Dealers, & Compliance Officers Stryde Financial Services

Cost Remediation services as provided by Stryde are explained and defined as follows:

Cost remediation is the process by which we seek to reduce, refine or recapture operational costs and/or engage in tax mitigation on behalf of a business owner.  Our services are initiated on a no cost, no obligation basis wherein we review key aspects of the businesses line item expenses and determine what opportunities exist to refine said expenses as well as to determine what tax mitigation or benefits same may qualify for.  Through this process we are able to forecast what the benefits will be should the business decide to engage us for our services.  

Should they choose not to, there was no cost nor is there any obligation to them of any type.  Should they choose to move forward, our contracts clearly outline that we are paid on contingency (no flat or hourly fee) and what percentage of benefit realized we will earn upon success.  

Additionally, it must be understood that under no circumstances do we serve as a vendor or change their current vendors, we simply audit those relationships and or general operating costs and identify avenues (and facilitate same) through which monies may be recaptured and or refined on a go forward basis.  As such, over the past 15 years we have never experienced a client complaint as there exists no opportunity for same to have a negative experience in that we are not paid unless and or until we are successful in realizing the benefit to the client.  

Our clients range from small privately held businesses to many Fortune 500 entities, as well as various unions, municipalities and even entire states that use certain of our platforms. 

See Your Savings In Seconds

Larry G. Potter

Specialized Tax Senior Advisor

15173 North Rd - Suite 201

Fenton, MI 48430

Growth Management Group, LLC | (888) 705-5557