Does Anyone Know About WOTC?


Hi Folks, I am a businessman I want to go for the Work Opportunity Tax Credit! Does anyone know the procedure of it, so that I can enjoy its benefit? If you people have any knowledge regarding this, please let me know. Any help will be highly appreciated.

Thanks for any help!



Comments(3)

  • bargain769th June, 2008

    Years ago I saved a bundle by hiring peop[le with the "job Tax Credit" then also with the "Targeted Job Tax Credit."

    Basically, I had to hire employees from certain defined disadvantaged groups, then at year-end I was allowed a TAX CREDIT to apply to my income taxes... up to $6K per employee if my memory serves.

    I WILL find details about the new Work Opportunity Tax Credit and report back.


    [addsig]

  • bargain769th June, 2008

    OK.... The WOTC Program (Work Opportunity Tax Credit Program) was effective 5/25/2007 and expires 8/31/2011.

    "The WOTC is a federal tax credit used to reduce the federal tax liability of employers." "Employers can hire from 9 different targeted groups:"

    "up to $9,000.00."

    The key words are "must be qualified." Click on:

    http://www.twc.state.tx.us/svcs/wotc/wotc.html

    _________________
    "BARGAIN KING"[ Edited by bargain76 on Date 06/09/2008 ]

  • asmith54411th June, 2008

    ***Deleted for advertising***

    This was a "set up" question, a one time poster asking a question and another answering it with a company promotion. When they did it again, I decided to delete the advertising.

    Bargain King, however, is honestly tryng to answer a question that interests him, so I am leaving the thread up to retain the information he provided.

    Chris
    [ Edited by ypochris on Date 06/14/2008 ]

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