Small Business Tax Savings Podcast
Business:Entrepreneurship
The Work Opportunity Tax Credit Pays You 40% of Wages!
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Business owners are always hiring new employees, but most of the time they're missing out on potential tax credits just because they’re unaware about what’s available.
In this episode, Mike Jesowshek, provides a comprehensive guide on the Work Opportunity Tax Credit (WOTC) and how you as a business owner might be able to take advantage of this tax credit. He explains what the WOTC is, who qualifies for it, how to claim it, and its benefits. Throughout the episode, Mike shares practical advice and examples to help business owners understand and implement this valuable tax credit.
[00:00 - 03:30] What Is The Work Opportunity Tax Credit
[03:31 - 06:45] Targeted Groups and Credit Amount
[06:46 - 09:15] Claiming the WOTC
[09:16 - 15:00] Benefits, Examples and Considerations
Direct Quotes:
"The truth is that business owners are always hiring new employees, but all too often they're missing out on potential tax credits simply because they don't know about them." - Mike Jesowshek, CPA
"This is a credit, which means it's a dollar for dollar in tax savings. This is not a tax reduction. This doesn't reduce your income." - Mike Jesowshek, CPA
Resources Mentioned:
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Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast
Join TaxElm: https://taxelm.com/
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Podcast Website: https://www.TaxSavingsPodcast.com
Facebook Group: https://www.facebook.com/groups/taxsavings/
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