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What’s the next best thing to lying on the beach with a daiquiri in your hand?
That’s right.
Tax credits!
Okay. Tax credits aren’t quite as sexy as the beach scenario, but they can save you a whole lot to money.
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Work Opportunity Tax Credit (WOTC) basics
The WOTC was created to give business owners an incentive to hire new employees from so-called “targeted groups.”
When you do, Uncle Sam will slash your tax bill on a dollar-for-dollar basis!
The result? You can dramatically cut the cost of bringing new-hires on board. A huge savings.
More good news: The WOTC has been extended through 2025!
So what the heck is a “targeted group”?
Lawmakers wanted to give you a tremendous tax break, and simultaneously help workers who need an employment break of their own.
There are ten categories of targeted groups. They include veterans, summer youth-employees, and eight others!
Think about it. You can hire motivated workers and get a valuable tax break at the same time.
Exactly how? You’ll get all the details when you…
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