Hiring? How to benefit from the Work Opportunity Tax Credit

Description

Abstract: Businesses that are seeking to hire should be aware of a valuable tax credit for hiring individuals from one or more targeted groups. Employers can qualify for the Work Opportunity Tax Credit (WOTC), which is worth as much as $2,400 for most eligible employees ($4,800, $5,600 and $9,600 for certain veterans and $9,000 for long-term family assistance recipients). The credit is generally limited to eligible employees who begin work for the employer before January 1, 2026.