Tax Incentives Blog

Employment Incentives: The Gravy To Your Turkey This Season

Written by Stephanie Cornejo Banuelos. Updated Nov 13, 2018.

Thanksgiving will soon be here, a time for family and friends to gather around the dining room table and show appreciation for each other while celebrating with a bountiful turkey dinner and all the trimmings. And with this tradition, there is a phrase that many will hear drifting across the table…"Please pass the gravy.” As if the turkey, mashed potatoes, and stuffing aren’t enough for a succulent feast, here comes the gravy, a delicious, mouth-watering reward resulting from hours of toil preparing the feast.

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State Incentive Spotlight: Georgia Investment Tax Credit

Written by Stephanie Cornejo Banuelos. Updated Oct 13, 2018.

The Georgia Investment tax credit is designed to service two specific industries; Manufacturing and Telecommunications.  The intent is to help these industries grow by making it more affordable to expand and improve facilities. Investment tax credits can be used to offset up to 50 percent of a company’s Georgia corporate income tax liability. If the earned credit exceeds that limit, then the unused credit can be carried forward up to 10 years and applied to future years’ tax liability. Taxpayers generally claim one of the three Georgia credits for the same project and/or jobs. The credits available are (1) the Investment Tax Credit, (2) the Job Tax Credit, and (3) the Quality Job Tax Credit.

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Making A Move To CTI – WOTC Success Story

Written by Stephanie Cornejo Banuelos. Updated Sep 11, 2018.

Client Profile:

Industry: 

Mobile Auto Repair

Previous WOTC provider: 

National Payroll Company

Number of Annual Hires: 

2,800



Current WOTC Performance:

  • 97% Screening Compliance
  • $34,000 Annual WOTC
  • 12% Qualification Rate
  • $12 Average Credit per Hire
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WOTC Keeps the Home Healthcare Industry Thriving!

Written by Stephanie Cornejo Banuelos. Updated Aug 6, 2018.

The home health care industry is booming and according to the Bureau of Labor Statistics, approximately 1.3 million additional jobs within the home healthcare field will be added through 2020. In fact, they report that those working in home healthcare positions will see a 69 percent growth through 2020.  One reason why the home healthcare industry is seeing such accelerated growth is the increase in demand of home healthcare services and facilities. As millions of people reaching an age where they will need some sort of home healthcare. Thus, increasing the expanse of the industry.

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4 Questions To Ask New Hires To Secure Employment Tax Credits

Written by Stephanie Cornejo Banuelos. Updated Jul 11, 2018.

One of the most valuable tax credit programs overlooked by businesses is employment-based tax credits. Many companies believe they would not benefit from this tax savings strategy due to the background of employees they hire or the complexity of employment incentive programs.

However, both state and federal employment credits give businesses the opportunity to improve their tax budget and increase their bottom line. While some companies consider administering programs such as the Federal Work Opportunity Tax Credit (WOTC) on their own, a third-party tax consultant often elicits more honest responses from new employees.

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4 Reasons Why Employment-Based Tax Credits Are A Win for Your Staffing Company

Written by Stephanie Cornejo Banuelos. Updated Jun 13, 2018.

With the cost of doing business consistently on the rise and as it becomes more difficult to find/retain great employees, companies are turning to staffing agencies to assist them with their employment needs.  This is great for staffing agencies and there is no better time to pursue employment-based tax credits than now.  There are both federal and state employment-based credits available that can help businesses offset income tax liability.  Some of these programs are based on the creation of net new jobs while others are offered to employers for employing individuals from specific target groups.  The most popular of these programs is the Federal Work Opportunity Tax Credit (WOTC).

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Passing of H.R. 1892

Written by Rose Davidson. Updated Feb 9, 2018.

ThinkstockPhotos-161827239.jpgToday President Trump signed into legislation H.R. 1892 which ended the government shutdown earlier this morning.  Included in the legislation are a number of tax extenders and new tax provisions – more notably the extension of the Federal Empowerment Zone Employment Credit and the Federal Indian Employment Credit and the introduction of the Employee Retention Credit for Employers Affected by California Wildfires.

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Tax Savings Programs for Manufacturers

Written by Rose Davidson. Updated Feb 6, 2018.

Manufacturing and distribution companies are being challenged today, both domestically and globally, by growth in the industry and competition.  Companies are scrambling to deliver quality products and service to meet customer needs and demands.  Faced with rising operating costs and increasing minimum wage rates, it can be difficult for manufacturers to stay profitable without comprising the quality of their products or compromising employee retention and morale.  Fortunately, there are tax incentives programs offered on the federal and state level that include targeted employment incentives (like the Federal Work Opportunity Tax Credit), state employment-based incentives and training-based incentives that can be advantageous to manufacturers.

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New Georgia Job Tax Credit: Qualified Parolee

Written by Rose Davidson. Updated Dec 1, 2017.

A new credit has been introduced to an already sizable list of credits offered by the State of GA.  The Georgia Qualified Parolee Jobs Tax Credit, effective January 1, 2017 – December 31, 2019, is an income tax credit available to employers who hire individuals who have recently been granted parole.

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How Capturing Eligible Tax Credits Can Save Your Hotel Money

Written by Rose Davidson. Updated Nov 30, 2017.

Hotels are faced with rising operating costs including increased taxes, escalating minimum wage rates and high employee turnover.  It can be difficult for hotels to stay profitable without compromising guest satisfaction.  Taking advantage of various tax savings programs including targeted employment incentives (like the Federal Work Opportunity Tax Credit), state employment based incentives and training based incentives may help boost your hotel’s bottom line by offsetting the costs of some of the most prevalent offenders such as increased taxes, escalating minimum wage rates and high employee turnover.

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