Do you know your potential Work Opportunity Tax Credit savings?
Work Opportunity Tax Credits (WOTC) usually range from $1,200 to $9,600 per qualified employee, with most qualified employees generating up to $2,400 in tax credits. Organizations receive this dollar amount as a credit against their payroll taxes. Qualified employees include groups of individuals who often face barriers to employment, including veterans, SSI recipients, long-term unemployment recipients and more.
Use this calculator to determine your estimated tax credit amount per qualified employee hired.