Tax Credit
Service
DO YOU HIRE PEOPLE? DO YOU HAVE HIGH TURNOVER? DO YOU PAY FEDERAL TAXES?
HirePotential's Tax Credit Service adds tax credit dollars to your bottom line. Over $4.2 billion in tax credits go unclaimed each year and only one in 800 companies capitalize on these tax credits. HirePotential shows you how to defer tax liability by utilizing the substantial tax credits earned by hiring people. The bottom line is this: you can obtain tax credits as a result of your hiring efforts
Earned Tax Credits to offset federal income taxes can be:
- Used to pay current tax obligations including sales tax in some states
- Used to refund personal taxes in an S corporation or partnership.
- Exchanged for a refund of the last 3 years' previously paid taxes
- Can be used quarterly, or as needed, carried forward up to 20 years or carried back 1 year
For a FREE Tax Credit Analysis click here
The process and administration time
- Flexibility in the implementation(within 24 hours)
- Online or manual process depending on your needs
- Adds only 3 to 4 minutes to your hiring process
- A monthly or quarterly payroll report
- HirePotential does the rest!
Tax Benefits
Corporations can expet from 3% to 20% of their new hires to qualify - a potential of $1500 to $8500 per eligible hire. The financial benefits derived from these programs can often decrease a company's hiring and training costs by 10% to 30%.
Types of Tax Credits Available
The following represents a few of the many sources of unclaimed dollar available:
- Work Opportunity Tax Credit (WOTC)
- Welfare to Work Tax Credit program
- Empowerment Zone or Renewal Community
- Indian Employment
- State-sponsored Training Grants - you can recoup your training costs.
- Job Training Partnership Act and Welfare to Work Wages Subsidies you and can earn wage subsidies for qualified new hires.
- Additional credits include:
- FICA Tip Credit - aplies to restaurants with tipped employees and is generally retroactive three years.
- State Credits - there are hunders of state credits and they vary by state. Many of the state credits exist for capital investment,job creation, training, research, and many are location specific
To discuss how HirePotential's Tax Credit Service can maximize your
bottom line, contact us. | 
