Tax Incentives for Employers
The Work Opportunity Tax Credit ProgramHow We Work Economic Evaluation Group understands the program guidelines and special rules required for optimal client participation in the WOTC/WTW tax credit programs. This work includes maintaining excellent relationships with the individual state employment security agencies to endure their timely processing of the documentation that we submit on your behalf. We use a simple two-step procedure to identify eligible candidates who qualify for tax credits. We do not screen your new hires for eligibility through personal interviews or prerecorded messages, and we know that our approach enables clients to achieve the maximum WOTC/WTW tax credits while upholding the integrity of your hiring process. Economic Evaluation Group typically has new clients up and running within a few days. No matter how much you may be presently capturing in tax credits, Economic Evaluation Group can improve on your results. How We Maximize your WOTC Tax Savings Economic Evaluation Group maximizes clients' results by: - Closely monitoring each hiring locations' compliance
- Issuing a monthly report of documentation received to track your progress and maximize your tax benefit
- Handling the receipt of your tax credit certifications
- Providing a quarterly report of guaranteed tax credits
- Providing ad-hoc reports, including mid-cycle reports of pending certifications and certifications received
Accounting firms are best prepared for tax filings and audits. While they complete the IRS forms that enable you to take your tax credits, Economic Evaluation Group ensures that you obtain the maximum benefit from tax incentive program participation. We achieve this by coupling our twenty-plus years of program expertise and by maintaining excellent working relationships with all federal and state tax incentive coordinators. Work Opportunity Tax Credit Estimator | # of New Hires/Year | Expected # of New Hire Certifications1 | Potential Tax Credits at Avg. Value of a Certification2 | Potential Tax Credits at Max. Value of a Certification3 | | 100 | 10 | $10,000 | $24,000 | | 500 | 50 | $50,000 | $120,000 | | 1,000 | 100 | $100,000 | $240,000 | | 5,000 | 500 | $500,000 | $1,200,000 |
1Assumption = 10% of your new hires eligible for the tax credit
2Average value of a certification = $1,000
3Maximum value of a WOTC certification = $2,400
A WTW certification can be more than double the value of your credit. The maximum value of each WTW certification is $8,500. Every New Hire = Potential Tax Savings Economic Evaluation Group's experience identifying and processing federal and state tax credits has enabled clients to achieve significant tax savings at tens of thousands of company locations. Economic Evaluation Group's experience includes: - Work Opportunity Tax Credits
- Welfare-to-Work Tax Credits
- Empowerment Zone Tax Credits
- Native American Tax Credits
- Disabled Access Tax Credits
Every Site = Possible Revenue Recovery There are numerous federal and state incentives available depending on where you are located and other features of your operations. Economic Evaluation Group works with you to identify and process every federal and state tax program for which you are eligible. Examples include: - Empowerment Zone Tax Incentives
- Enterprise Zone Tax Credits
- Job Creation Tax Incentives
- Investment and Renovation Tax Credits
- Relocation and Expansion Tax Incentives
- Sales and Use Tax Reduction Programs
- Job Training Cost Reimbursements
- State Employer Incentive Programs
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