Hiring workers can bring tax breaks

March 18, 2016 Written by

The Work Opportunity Tax Credit, known as WOTC, can reduce your federal income tax liability dollar-for-dollar when you hire certain workers. The credit is available for 2015 if you hired workers from “targeted” groups, such as ex-felons, food stamp recipients, and Supplemental Security Income recipients. Beginning in 2016, you can also claim the credit when you hire individuals who were unemployed for at least 27 consecutive weeks and who received unemployment compensation.

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Written by: Doug Rodrigues