Why take the worker's opportunity tax credit?

Here are a few reasons why an employer might want to take the Worker Opportunity Tax Credit:

• It provides a federal tax credit for hiring employees from certain targeted groups that have traditionally faced barriers to employment. Eligible groups include veterans, ex-felons, those on public assistance, and those living in empowerment zones.
• The tax credit amounts to up to $9600 per eligible employee hired. So it can provide a significant cost savings on taxes for employers.
• It incentivizes employers to diversify their workforce by hiring from demographics they may not have considered or tapped into before.
• It can help employers fill positions when there is a shortage of qualified candidates. The tax credit makes hiring from the eligible groups more advantageous financially.
• By creating employment opportunities for the targeted groups, it aids in reducing unemployment for populations that tend to have higher jobless rates.
• The employer gets a social benefit of helping individuals who likely want and need jobs in order to gain skills, income, and stability.

So in summary, the key reasons an employer may want to claim the Worker Opportunity Tax Credit are the significant federal tax savings, the incentive to diversify hiring practices, help filling open positions, reducing unemployment for disadvantaged groups, and gaining a social benefit for the company's image. The credit aims to achieve both economic and social goals.

Why US business owners do not take their tax incentives.

 

There are a few potential reasons why business owners may not take full advantage of tax incentives available to them:

• Lack of awareness - They may not know about all the tax credits, deductions, and other incentives they qualify for. Staying on top of changing tax laws and new incentives can be challenging. We keep our clients constantly updated!
• Hassle factor - Some tax incentives require a good amount of record-keeping, paperwork, or other effort to claim. Business owners may decide the extra work isn't worth the potential tax savings. We do 98% of the work!
• Cash flow - Many tax incentives only provide savings when taxes are filed. But to claim them, money often has to be spent upfront. Some businesses may not have sufficient cash flow to make those initial outlays. We have no upfront fees!
• Qualification issues - Tax incentives frequently come with specific requirements around things like location, industry, equipment purchases, payroll, etc. Businesses may not fully qualify for the tax breaks they are seeking. Our software derermines that in 60 mseconds!
• Fear of audit - Claiming large deductions or credits can raise a red flag with the IRS and potentially increase audit risk. Some business owners may prefer to play it safe. In 20+ years we have not been challenged by the IRS!
• Temporary nature - Tax incentives are often temporary or phase out over time. Business owners may be reluctant to make long-term investments based on short-term tax breaks. Is a $5/mo subscription with no contract a long term investment?!?
• Lack of tax savvy - Some business owners simply aren't aware of all the tax-saving moves they could make or don't fully understand how to maximize their tax incentives. Hiring a knowledgeable tax advisor can help identify opportunities. That's why we created our software, there is nothing like it!!

The bottom line is tax incentives provide great opportunities for many businesses, but not unless they check their benefits now!!

A few reasons a business might want to take advantage of tax incentives.

*Save money - Tax incentives like credits, deductions, and exemptions can reduce a company's overall tax burden and help improve cash flow. This extra money could be invested back into the business

*Encourage certain activities - Some tax incentives are designed to encourage specific business behaviors like investing in new equipment, hiring more employees, performing research and development, or operating in certain locations that need economic growth.

*Level the playing field - Tax breaks can help level the playing field for certain small or disadvantaged businesses that policymakers want to assist. This helps them better compete.

*Attract investment - Tax incentives may make a jurisdiction more appealing for businesses to locate to. Things like tax credits, grants, and subsidies can offset costs and boost ROI.

*Create jobs - Hiring credits and payroll tax reductions can incentivize business expansion and job creation in a particular area. This provides employment opportunities.

*Reduce risk - Credits and deductions help companies lower their tax liability, which reduces potential losses and can encourage taking on riskier ventures or investments.

So in summary, the main goals of business tax incentives tend to be spurring economic growth, creating jobs, and allowing companies to be more competitive. The savings and benefits ultimately allow businesses to reinvest in themselves.

 

The AHA is extremely pleased that hospitals will finally be paid back what they deserve.

 

Access Discount Healthcare Underpayment requirement for Hospitals, Urgent Cares and Large Primary Care: 

This service is for Hospitals, Urgent Cares and Large Primary Care (minimum $2M annual in payer revenue with their top 3 payers)

Larry G. Potter

Growth Management Group, LLC

15173 North Rd - Suite 201

Fenton, MI 48430                                                                                 

Lgpotter33@gmail.com

1 (847) 872-4047

Alzheimer’s Treatment Leqembi Gets Full FDA Approval

 

The U.S. Food and Drug Administration (FDA) has granted, for the first time, full, traditional approval for an Alzheimer’s medication that is designed to do more than treat the symptoms of the memory-robbing disease. 

The drug, lecanemab (brand name Leqembi), was shown in clinical trials to help slow the progression of , which affects more than 6.5 million older Americans and for which there is no cure.

Hospitals with Health Equity Factors Face Value-Based Penalties

 

Some hospitals with more medically complex patients, uncompensated care, and patients who live alone are more likely to receive a penalty under CMS value-based payment programs, according to a new study calling for change to the programs.

Larger hospitals, major teaching hospitals, and some hospital groups with higher disproportionate share hospital (DSH) percentages were more likely to be penalized in fiscal year (FY) 2015 and FY 2021, according to an analysis. This was especially true in the Hospital VBP Program.

Hospitals with the highest relative portion of uncompensated care cost were somewhat more likely to receive penalties.

Another very big problem hospitals struggle with are underpayments by insurers. GMG has the software (not for sale) to recoup these millions of dollars!

Access Discount Healthcare Underpayment Recovery for Hospitals, Urgent Cares and Large Primary Care shown program is now active (see sample from just 4 of the 712+ facilities that have enrolled.)

Email me for details:

Larry G. Potter

Lgpotter33@gmail.com

More healthcare surgical procedures are moving to the outpatient setting.

 Physicians often take surgical cases to hospitals, which drives up the overall cost of healthcare. By providing the surgeons an efficient, expedient service, they can better serve their patient populations and reduce the cost of healthcare industrywide. 

The interesting part about that is that hospitals typically get paid a lot more for the same surgeries than ambulatory surgery centers do, and because of that, the operating margin at a surgery center is usually a lot less.

Help is here now with Access Discount Healthcare Underpayment program.

This service is for Hospitals, Urgent Cares and Large Primary Care (minimum $2M annual in payer revenue with their top 3 payers)

Larry G. Potter

Lgpotter33@gmail.com