Double-dipping occurs when the same payroll dollars are claimed for multiple tax benefits, violating IRS regulations. Employers looking to optimize incentives like the Work Opportunity Tax Credit must carefully allocate payroll to ensure compliance. This guide explains double-dipping, its prohibition, and how to maximize WOTC benefits legally. What Is Double-Dipping
Understanding WOTC credits and deductions is crucial for businesses aiming to optimize savings and reduce tax liabilities. While often confused, they serve distinct purposes. Tax Deductions A tax deduction reduces your taxable income. For example, if your business earns $100,000 and claims $20,000 in deductions, you pay taxes on $80,000.
WOTC.com is proud to announce our Great Place to Work Certification, reflecting our commitment to a positive workplace founded on trust and respect. This achievement is a significant milestone for us. What is the Great Place to Work Certification? This globally recognized honor is awarded to companies with outstanding workplace
WOTC.com is thrilled to announce that we have received the prestigious G2 Clients Love Us Badge. This honor reflects our commitment to delivering exceptional service and ensuring a top-tier experience for every client. What the Badge Represents Awarded by G2—a leading platform for business feedback—the “Clients Love Us” badge is
WOTC.com empowers business owners to profit from their recently hired employees by maximizing the Work Opportunity Tax Credit. What is WOTC? The Work Opportunity Tax Credit (WOTC) offers tax credits to private-sector employers for hiring eligible individuals, with credits ranging from $2,400 to $9,600 per hire, depending on the employee’s
The New York Youth Tax Credit is a tax incentive designed to support businesses in hiring young employees. It offers significant financial benefits for employers while helping youth aged 16–24 build their careers. Eligible businesses can claim up to $7,500 per full-time employee and $3,750 per part-time employee. At WOTC,
To Offer Clients Access to Work Opportunity Tax Credits DALLAS, January 8, 2025 – Axxess, the leading global technology platform for healthcare at home, has partnered with WOTC.com, the leading authority in maximizing work opportunity tax credits, to offer Axxess clients access to workforce-related tax credits through WOTC.com’s services. “Our
TC Services USA Inc. is proud to announce that it has achieved SOC 2 Type II compliance in accordance with American Institute of Certified Public Accountants (AICPA) standards for SOC for Service Organizations also known as SSAE 18. Achieving this standard with an unqualified opinion serves as third-party industry validation
Many clients are asking us: May I use the same payroll for PPP forgiveness, the ERC, FFCRA, and WOTC? Although there is no IRS rule prohibiting you from using the same pay period’s payroll for each of these credit and relief options, your organization must separate and specify which payroll
Under the new notice, an ERC may be claimed by an eligible employer for qualified wages paid in the third and fourth calendar quarters of 2021. An eligible employer is an employer carrying on a trade or business (1) whose trade or business’s operation is fully or partially suspended due
WOTC.com is a premier provider of Work Opportunity Tax Credit (WOTC) solutions, dedicated to streamlining the new hire process through seamless WOTC integration for our clients and partners.
The WOTC is a federal tax credit that offers companies between $2,400 and $9,600 for each new qualifying hire.
Our team of tax credit professionals specializes in maximizing these credits, often delivering double the benefits compared to other providers.
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