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Reduce or Eliminate your BUSINESS TAX LIABILITY with the
WORK OPPORTUNITY TAX CREDIT!
Reduce or Eliminate your BUSINESS TAX LIABILITY with the
WORK OPPORTUNITY TAX CREDIT!
Please reach us at matt@wotcgenius.com if you cannot find an answer to your question.
Over the past few decades, large Corporations have found ways to reduce or eliminate their Federal Income Tax liability. These same tools designed to make running a small local business more affordable and profitable have been hijacked by the BIG FOUR accounting firms and Corporate America.
WOTC Genius offers a way for small businesses to reclaim their fair share of these benefits! We've designed a self service solution to automate the capture of hiring data needed to apply for WOTC qualification, the process of applying for certification AND calculation of credits based on wages paid for qualified hires! Automation makes it easy for a time stressed small business owner to meet the 28 days from date of hire deadline to file!
Traditionally WOTC is screened for at one of three points in the hiring process:
We suggest that candidates are screened at the Interview phase....because WOTC qualification is an EEOC protected hiring criteria! You can decide between two equally qualified candidates if one can earn you a tax credit! Therefore, we suggest you follow this formula when deciding how much screening to plan for-
# annual hires x # expected interviews per hire = how many screenings you'll likely need.
We are available to answer any questions and offer suggestions to help maximize value.
The Work Opportunity Tax Credit (WOTC) is a federal tax credit available to employers. Employers must apply for and receive a certification verifying the new hire is a member of a targeted group before they can claim the tax credit.
After the required certification is secured, taxable employers claim the WOTC as a general business credit against their income taxes, and tax-exempt employers claim the WOTC against their payroll taxes. 1 in 5 working age Americans qualify for WOTC! The US Department of Labor certifies an average of 2,064,522 hires annually for this credit.
The MAXIMUM credit available ranges from $2,400 up to $9,600, depending on the targeted group and qualified wages paid to the new employee generally during the first year of employment. Generally, the credit is 25-40% of qualified first-year wages for individuals who work AT LEAST 120 hours in their first year of employment. Employees answer a short survey at time of hire. Employers must apply for certification within 28 days of hire with the State Workforce Agency (SWA). WOTC Genius automates ALL of this.... we hope we can eliminate ALL of your business tax liability, and any unused credit values may be carried forward for up to 20 years!
Most Tax Credit providers offer this as a full service option for a fixed percentage of the total credit earned- usually around 20% of the total credit value generated, whether the business can use all of that credit or not. This practice leads to wanting higher credit generating clients- in other words, bigger companies that hire ALOT of people every year. Many will say they cannot justify offering the service to businesses that hire under 500 people a year- which leaves MOST out in the cold with very few options that are affordable. We've created three separate tiers of service to provide the tools and resources for EVERY business that hires.
WOTC Genius is meant to be affordable for every scale of hiring. Based on Department of Labor data showing approximately 1 in 5 hires will qualify, WOTC Genius is designed to provide a very high ROI. Our goal is to provide small businesses with the same Tax Reduction tools made readily available to Big Business.
OUR PRICING IS STRUCTURED TO TRY AND KEEP YOUR COSTS NEAR 10% OF YOUR CREDIT OR LESS. WE WILL CONTINUE TO DEVELOP TOOLS AND RESOURCES TO SIMPLIFY YOUR TAX CREDIT ENDEAVORS.
Tier 1-<50 screened applicants annually : $500 Initial Setup Fee ; $50/monthly service fee for 3 years. $1100 year one; $600 each year 2&3. (One full qualifier pays for WOTC Genius for 3 years!)
Tier 2-51-150 screened applicants annually: $1000 Initial Setup Fee; $100/monthly service fee for 3 years. $2200 year one; $1200 each year 2&3.(Two full qualifiers pays for WOTC Genius for 3 years!).
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Tier 3 -151 to 500 screened applicants annually: $2500 Inital Setup Fee ;$250/monthly service fee for 3 years. $5500 year one; $3000 each year 2&3.(5 full qualifiers pays for WOTC Genius for 3 years!)
WOTC Genius is a self-service software solution available in all 50 US States.
Pennsylvania based businesses will be subject to the Pennsylvania sales tax : statewide the rate is 6 percent. By law, an additional 1 percent local tax is added to purchases made in Allegheny County, and 2 percent local tax is added to purchases made in Philadelphia.
***NON VETERAN CREDIT VALUE (MAX VALUE)***
***VETERAN CREDIT VALUE (MAX VALUE)***
Our team consists of experienced software developers and WOTC experts who have worked on a variety of projects. We have years of experience serving in payroll services and tax credits. Our expertise in understanding the needs of small business owners is unmatched !
We are committed to delivering high-quality software solutions to our clients. Our team follows best practices in software development and testing to ensure that our clients receive a reliable and bug-free product. Our goal is for you to minimize effort and maximize ROI.
We believe that communication is key to a successful project. We work closely with our clients to constantly provide best in class services and to evolve with your needs. WOTC Genius is built to be simple and effective.
WOTC Genius streamlines the Work Opportunity Tax Credit certification process, helping employers easily claim valuable tax credits for hiring qualified individuals. WOTC Genius will automate the capture, filing , certification and calculation of WOTC Hiring Credits!
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