In addition to the more commonly known federal employment incentives, there are thousands of state and local programs available. These employment-based tax credits and incentives help boost economic growth by encouraging businesses to expand into designated areas and hire people with certain barriers to employment.

Due to the sheer number of programs offered (and the complex nature of meeting all the various requirements for eligibility), businesses face their own set of barriers for capturing employment incentives. Too often, it’s these barriers that prevent businesses from trying to capture the credits at all.

Outsourced tax consultants come equipped with streamlined processes, expertise and technology to advance the pursuit of employment incentives.

Here’s how:

An Outsourced Tax Consultant Has A Process In Place

Identifying, capturing and documenting the information needed to properly file claims for employment incentives is complicated and continuous. Without a failsafe process in place, it’s incredibly time consuming for your in-house team to record necessary data and organize the vast amount of information accurately for the IRS.

The right outsourced tax consultant already has an established, proven process for gathering information, screening employees and staying on track to meet critical deadlines. This takes the burden off of your team, while providing you with a sense of confidence that the process of capturing employment incentives is done right the first time. 

 A Tax Consultant Provides Much-Needed Technology And Resources

If you are constantly hiring employees, you need the right technology system to facilitate the administration tasks of an employment incentives program. Your outsourced tax consultant should offer technology that:

• Assists in the screening process for new hires

• Automatically populates required applications

• Integrates with government systems

Advanced technology should also be capable of e-signatures and voice signatures.

Although technology helps alleviate some burdens while pursuing employment incentives, there are still many administrative duties to perform. Most companies simply don’t have the manpower to maintain multiple programs.

An outsourced tax consultant takes on duties such as identifying and recovering overpaid taxes, managing tax liabilities, reducing compliance risk and monitoring complex regulations and deadlines. This level of dedication and expertise is rarely achieved in-house.

By outsourcing employment incentives, you eliminate the burdens and concerns that come with a lack of time and tax expertise. As an outsourced tax consultant works to identify and claim every available employment incentive, you and your team are able to get back to focusing on other important growth goals for your business.

Ready to learn more about partnering with an outsourced tax consultant? Learn more by downloading your complimentary guide.