WOTC Brochure focus on Veterans

CMS's new Work Opportunity Tax Credit brochure focuses on Veterans.

Save on New Hires in 2012 with the Work Opportunity Tax Credit The “VOW to Hire Heroes Act of 2011, now allows employment tax credits for both “For Profit” and “Non Profit” companies under the federal employment tax credit i.e. the Work Opportunity Tax Credit Program "WOTC".

Are you hiring in 2012? Click here for our WOTC Brochure.

About CMS

CMS helps companies of all sizes save money by taking advantage of the Work Opportunity Tax Credit. Call Brian Kelly at 1-800-517-9099 today to see if it makes sense for you.

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Work Opportunity Tax Credits In The News

Keep up-to-date with the latest news on Work Opportunity Tax Credits (WOTC) with our blog. We monitor all the legislative news and updates to keep you informed. Here are some of the latest WOTC news updates from around the web: 

 

Illinois Department of Employment Security announces web site improvements
The Illinois Department of Employment Security announced Wednesday that the agency has completed a year-long upgrade of its web site to enable more businesses to access tax incentive information. Applications for the Work Opportunity Tax Credit showed Illinois businesses qualified for $67 million in income tax credits after hiring 27,000 individuals from historically disenfranchised groups, including military Veterans, the press release said.

IRS Tax Credit Check - Business Credits
Here is today's Tax Credit Check, a reminder to businesses to take advantage of business tax credits.  Businesses accommodating people with disabilities may qualify for the following two tax credits.

Capture jobs credit for vets
Does your business intend to hire military veterans this year? It may qualify for the Work Opportunity Tax Credit (WOTC). The maximum WOTC is $9,600 for hiring veterans with service-connected disabilities who have been unemployed for more than six months; $5,600 for other veterans who have been unemployed for more than six months; and $2,400 for veterans who have been unemployed from one to six months.
 

IRS reminds businesses to take advantage of tax credits
The Internal Revenue Service is reminding businesses to take advantage of business tax credits, according to a news release from the IRS.

How to tap into the growing labor pool of service members to benefit your business
A projected 175,000 service members will be exiting the military in the next year. When they return to civilian life, these young veterans of the Iraq and Afghanistan wars will face an unemployment rate of 23 percent, contributing greatly to the Department of Defense’s annual unemployment compensation payments of more than $900 million. However, at the same time, there are 1.7 million high-wage, high-demand jobs open in the U.S. today that match the skills of service members, representing more than $136 billion in gross wages.

VOW To Hire Heroes Act Benefits Unemployed Veterans and Employers
The VOW (Veterans Opportunity to Work) to Hire Heroes Act intends to help veterans between the ages of 35 and 60, especially ones with service-related disabilities, find training and employment.

Seven Opportunities For Retailers
On top of the economic uncertainty all companies must contend with, retail stores and restaurants face significant long-term challenges, including the continued rise of e-commerce and the ongoing need for financing. And while there’s no easy fix, these companies can enjoy a higher level of financial security and take advantage of potential opportunistic moves in a soft market by focusing more attention on their cash and capital. To do this properly, they need to truly understand their sales peaks and valleys and carefully project their cash flow on a rolling 12-month basis. The following seven factors can help you make the most of your cash flow potential.

 

Follow us on Twitter, Facebook, LinkedIn and our Blog to keep informed.

About CMS

CMS helps companies of all sizes save money by taking advantage of the Work Opportunity Tax Credit. Call Brian Kelly at 1-800-517-9099 today to see if it makes sense for you.

IRS reminds businesses to take advantage of tax credits

The Internal Revenue Service is reminding businesses to take advantage of business tax credits, according to a news release from the IRS.

The Work Opportunity Tax Credit provides eligible employers with a tax credit when they hire new employees from a "targeted group."  The credit is up to 40 percent of the first $6,000 of first-year wages of a new employee.

An employee with a disability is one of the targeted groups for the Work Opportunity Credit, provided the appropriate government agencies have certified the employee as disabled.

The credit is available to the employer once the employee has worked for at least 120 hours or 90 days.

The VOW to Hire Heroes Act of 2011 provides an expanded work opportunity tax credit to businesses that hire eligible unemployed veterans and for the first time also makes part of the credit available to tax-exempt organizations.

The credit is available for eligible unemployed veterans who begin work on or after November 22, 2011, and before January 1, 2013.

For more information, go to IRS.gov and check out information on the Disabled Access Credit and the Work Opportunity Tax Credit.

Continue Reading IRS reminds businesses to take advantage of tax credits





About CMS

CMS helps companies of all sizes save money by taking advantage of the Work Opportunity Tax Credit. Call Brian Kelly at 1-800-517-9099 today to see if it makes sense for you.