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!
Hi Tyler, Welcome to the forum! Everyone has to be so careful when it comes to business taxes and what can be wrtten off and what can't. I have an accountant that I have known for many years now do all my taxes. It obviously costs me money but to me it is well worth it because I know the job is done right and I won't see any repercussions down the road from an error I may have made. In my humble opinon, taxes are just too important to take shortcuts on and paying a professional can improve your sleep at night...it sure does with me! Good luck Cheers, John
2 Jul 2008 02:40 - Attached on merging: Can anyone explain me about WOTC? Hey, I need a little help from you guys, I just want to know what is WOTC? How it helps and what is their importance for an employer? How can I take its benefits? If you guys have any information regarding this, please share it with me. Thanks a lot!!
I'm at a total loss - do you have a website link or URL that you can point us to? I don't think I've ever heard of that acronym...
The Work Opportunity Tax Credit (WOTC) is a federal tax credit available to all private sector businesses. It was designed as an incentive to employers to hire individuals in certain targeted groups which consistently experience high rates of unemployment due to a variety of employment barriers. WOTC is a tool for job seekers in these targeted groups to use to help them obtain gainful employment so that they may acquire the skills and experience needed to be eligible for better, higher paying job opportunities.
