R. Jeffrey & Associates, Inc.
Phone:  847.795.1400 or 866.753.3379
Fax:  847.795.1515

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WHAT ARE TAX CREDITS FOR HIRING?
One of the most commonly overlooked ways to bring profitability into your business comes from accessing the Work Opportunity Tax Credit (WOTC). Many of the companies we talk with are, at best, only vaguely aware of these.  In many cases they gave up on the program due to it being too difficult to administer. 

SPECIAL NOTE: Due to changes in the WOTC program made in 2008 and 2009, the IRS Form 8850 and ETA 9061 are undergoing rewrites and are expected to be released in June/July 2009.  To insure 100% compliance with the WOTC program, you must use the most current forms available.

These credits are easy to access when you have the help of a National Policy expert at R. Jeffrey & Associates (RJA).  These credits are potentially very significant if you are a company that fits the profile we have identified below (and many do!).  We do 95% of the work to get it for you. It is totally risk free and we provide training and follow up reminders free of charge.

WHY ARE THERE TAX CREDITS FOR HIRING?
The Federal Government uses this Tax Credit to encourage employers to hire from the following eleven targeted groups listed below. These programs help people move from being on the tax dole to being on the tax role. The government designed these programs to help people move closer to self sufficiency.

WHO ARE THESE TARGETED GROUPS?

  • Qualified (SNAP) Supplemental Nutrition Assistance Program (formerly Food Stamp) recipients ages 18 through 39
  • Qualified recipients of Aid to Families with Dependent Children (AFDC)
  • Designated Community Residents ages 18 through 39 who reside in a Federally designated Empowerment Zone, Renewal Community or Rural Renewal County
  • Qualified summer youth ages 16 through 17 who reside in a Federally designated Empowerment Zone, Renewal Community or Rural Renewal County
  • Qualified, economically disadvantaged ex-felons hired no later than one year after conviction or release from prison
  • Qualified recipients of Supplemental Security Income (SSI)
  • Qualified veterans receiving (SNAP) Supplemental Nutrition Assistance Program benefits (formerly food stamps)
  • Vocational rehabilitation referrals
  • Veterans with disabilities
  • Unemployed Veterans (2009 and 2010 only)
  • Disconnected Youth (2009 and 2010 only)

WHAT IS THE PROFILE OF A COMPANY THAT BENEFITS FROM WOTC/WTW?
Our research shows that business like the type we list below are most successful in obtaining these credits.

  • Fast Food Franchises
  • Temporary Staffing Services
  • Hospitals and Nursing Homes
  • Manufacturing Plants
  • Restaurants and Hotels
  • Telemarketing Firms
  • Janitorial Staffing
  • Located in or near Empowerment Zone/Renewal Community
  • High turnover environments
  • Hire a high percentage of people at or near minimum wage
  • Have a high percentage of people on public aid or welfare

Of course, there are other companies who also profile very well for these credits. We will be happy to speak with you to let you know in only a few minutes if your company will benefit, and if so, how much.

HOW MUCH OF A CREDIT IS IT?
Under the WOTC program, up to $2,400, which is 40% of the first $6,000 of income.

Under the WTW program, up to $8,500, which is 35% of the first $10,000 of income in year one, and 50% of the first $10,000 of income in year two.

HOW MUCH WOULD MY COMPANY GET?
If you resemble the profile above and if you hire 100 people a year on average you can estimate a range of your yearly WTW and WOTC tax credits as follows:

Scenario #1 (possible best case)

10 (10%) are WOTC or WTW certified and earn at least $4,000 in their first year

10 x $4,000 x .40 = $16,000 tax credit per year

Scenario #2 (more conservative estimate)

6 (6%) are WOTC or WTW certified and earn $3,000 in their first year

6 x $3,000 x .40 = $7,200 tax credit per year

HOW YOU GET THESE CREDITS
Our unique system provides you the turnkey elements to success - free training (and retraining as needed) and automatic quality control for all forms you submit. After you make the decision to recover the WOTC and WTW Tax Credits you deserve, we can have you up and running within 5 business days.

WHAT WE DO
After we agree that WOTC and WTW credits are worth pursuing, we arrange a 30 minute training session with your designated representative(s). Our processing methodology insures that all employee forms (IRS form 8850) are free from errors.

Once your employee is certified, a limited payroll download to R. Jeffrey & Associates is the last thing that you do. From there we generate all necessary reports. Your tax department can count on us to provide you with all reporting and documentation necessary in order to substantiate the WOTC and WTW credits.

HOW YOUR COMPANY CAN GET INTO ACTION
The first step is to make the decision to speak with R. Jeffrey & Associates about your situation. Our phone number is 847/253-7300. After a brief discussion you will know if this is right for your company and you will have an estimate of yearly tax dollar savings.  If you would like to start a dialogue directly with us via the Internet, please take a minute to complete our online survey that will save you valuable time when discussing our services.


Copyright © 2008  All rights reserved.
R. Jeffrey & Associates, Inc.
701 Lee Street, Suite 650
Des Plaines, IL 60016
Phone:  847.795.1400  or   866.753.3379
Fax:  847.795.1515