Tax credit for hiring from certain “target groups” can provide substantial tax savings

If you hired from certain “target groups” in 2017 and obtained proper certification, you can claim the Work Opportunity tax credit (WOTC) on your 2017 return. Also keep the WOTC in mind in your 2018 hiring. Despite its proposed elimination, the credit survived the final version of the Tax Cuts and Jobs Act that was signed into law in December. Examples of target groups include qualified veterans, the long-term unemployed, ex-felons and certain government assistance recipients. The credit ranges from $2,400 to $9,600 per hire. Contact us for more information.