While there has been a great deal of press in the last year about the Employee Retention Credit and other payroll assistance provisions included in the economic recovery legislation, we want to remind you of an important employee related credit that is not new and is ongoing through at least 2025.
Work Opportunity Tax Credit
When you hire people from targeted categories and employ them for at least 120 hours, you can reduce your federal tax liability by up to $9,600 per eligible employee.
Taking advantage of tax credits can be a full-time job. CLA works with employers to identify eligible employees, collect supporting information, submit the required tax forms, and compute the dollar amount of the credit.
We integrate technological solutions into your hiring process to minimize the time spent collecting the data. Our innovative, automated process will help you maximize your efficiencies.
Compliments of CliftonLarsonAllen – a member of the EACCNY.