Posts Tagged ‘wotc’

California Veterans Get Business Lift From the State

Monday, February 22nd, 2010

California has a very large percentage of military veterans (over 2.1 million) and over 10% suffer from some form of physical or mental disability.  Projections indicate a big spike in these numbers for California in coming years.

The state of California, as well as numerous other states, have a variety of programs to provide a helping hand to these service-disabled Vets.

As discussed in the link below, Los Angeles Times’ business reporter Cyndia Zwahlen provides a summary of the ways California is taking care of these business owners – including striving to allocate at least 3% of the $9 billion of government contract and purchasing commitments to businesses owned by disabled Vets.,0,7826455.story

Also read more about the valuable state and federal tax benefits available for employers of Vets in this 2009 AICPA article.   Veterans receiving food stamps, or those who have been discharged and unemployed during the last year can generate tax credits from $2,400 to $4,800 for a future employer – making Vets an attractive solution for hiring needs.

Additional hiring credit information is also avaialable at:

Year-End Tax Planning and Job Creation – Maximizing Refunds in a Tough Economy

Friday, December 4th, 2009

Sign up for my daily/ weekly tax update Twitter feeds at:

 Before we get into year-end tax planning, let’s focus on job creation for a moment.  President Obama held his White House “Jobs Summit” – without a few key business organizations, including the U.S. Chamber of Commerce which represents over 3 million companies and over 115 million employees.

Another stimulus package is being discussed, but a focus on job creation and tax reduction will be the best short-term strategy.  There are numerous federal and state programs which allow employers to claim credits ranging from $500 to $15,000 per “qualified” employee.  The Obama Administration needs to focus on refundable hiring credits, an investment tax credit for purchasing equipment and incentives for loaning funds or making equity investments in small businesses.

For a full library of articles focused on these tax incentive programs, please click on the following link:



2009 federal and state tax changes provide huge opportunities for both business and individual taxpayers to minimize their 2009 tax liabilities and in many cases optimize refunds from prior years.

With some effort before year-end, March and April 15th can be much less taxing — but advance planning is necessary.

Businesses and individual taxpayers have had to navigate a challenging economic landscape for at least the last two years.  In addition to trying and maintain revenue levels while paring down costs, businesses and homeowners have found their financing options dramatically limited.

Therefore it is critically important for both businesses and individual taxpayers to carefully plan now for their year-end to ensure that they minimize their federal and state tax obligations – and insome cases – secure refunds for prior tax years.

As more fully detailed in the attached links to a variety of articles addressing topics raanging from:

- How to maximize tax refunds via the carryback of 2009 tax losses – including the recently passed 5 year federal carryback option for all businesses:

- How to maximize write-off of wholly and partially worthless bad debts

- Taking full advantage of federal and state depreciation and immediate write-off of equipment and other capital expenditures:


Claiming the wide variety of federal and state green/ eco-credits:

- Claiming valuable federal and state Location-Based Investment Credits (LBICs) for hiring employees and making capital investments in any one of the 8,500+ incentive tax Zones.  There are over 42 state Enterprise Zones in California which can often eliminate taxes in the highest rate state in the country:


 2009 was an extremely active year for tax legislation and while federal changes were often beneficial for corporations and individuals, state changes, particularly California, often resulted in higher rates, less deductions and accelerated tax payment requirements.


For a full library of corporate tax articles log onto the AICPA Corporate Taxation Insider Newsletter:


For a wider variety of business and individual tax and economic articles, news and otherlinks, please click onto my personal website:


Our comprehensive year-end tax planning guide can be accessed at:




Obama Jobs Summit – Real Results or More Smoke & Mirrors

Thursday, December 3rd, 2009

With trillion dollar deficits and national unemployment in excess of 10% (before factoring in employees forced into part-time positions and those terminally unemployed), President Obama is under significant pressure to create the jobs he promised during the campaign.

Interestingly the U.S. Chamber of Commerce was not invited to the Summit – even though the Chamber represents over 3,000,000 businesses throughout the U.S.

While various corporate tax incentives, including hiring credits are being considered as part of the Summit, there are already a myriad of federal and state tax incentives which provide annual hiring credits ranging from $500 to $15,000 per “qualified” employee hired.  Many of these programs are Location-Based Incentive Credits (LBICs), requiring the business to be located in specific economically disadvantaged regions (over 8,000).  In addition there are a number of programs which can generate hiring credits regardless of the business location.

Hopefully the Administration will explore and add additional hiring credits.   Congress and the states should also invest funds to improve the marketing and education of the existing federal and state hiring credit programs to make sure employers understand that they can dramatically reduce their labor costs on new hires – as well as some employees hired in prior years.  Read more about these valuable incentives @:


Former Speaker of the House Newt Gingrich held his own “Real” Jobs Summit today to highlight his proposed fixes.


Republican Congressman Boehner’s job creation/ retention letter to the President can be found at:


Hire a Veteran – Give a Job and Get a Tax Refund

Saturday, March 21st, 2009

Our returning troops are coming back to one of the worst employment environments in decades.  After giving so much for our country, we can show our gratitude by providing them a good job.   In addition to "doing the right thing", employers will find a variety of federal and possible state hiring tax credits ranging from $4,500 to $13,000 per veteran hired.

Read more how veterans can use these programs to improve their job prospects and how employers can save tens of thousands of dollars annually:

Download Veteran-Employer Tax Breaks REVISED for 2009 Recovery Act

Download NTCG Tax Credit Card Press Release 11.12.2007

Jobless rate for recent military veterans rises –   Check out our Tax Credit Card

Tea Party – Develop Your Own Tax Stimulus Package – Significant State and Federal Tax Credits Available Now

Saturday, March 7th, 2009

No need take any extreme measures when it comes to your taxes.


Even if you have already filed your 2008 business or personal tax return it is not too late to get some of your prior taxes back.   If you have extended your 2008 returns – read on and make sure you are not overpaying your state and federal taxes – since most taxpayers do.


Please scan through this entire blog and the "Library" Section of this site to find hundreds of tax refund opportunities for businesses as well as individuals.


With tax developments at both the federal and state level, it is time to make sure that you pay no more than your fair share of the growing tax burden.   I'm sure you can put your hard earned dollars to more effective use than the government – so get educated on all the existing, legitimate tax breaks available to you and your business.


Nationally, over 20 percent of businesses have one or more locations that fall within a Location Based Investment Credit (LBIC) zone and of this eligible pool of businesses, less than 10 percent of these qualifying companies actually claim the benefits they are entitled to. As a result, CPAs, CFOs and tax directors have an excellent opportunity to dramatically increase shareholder value by taking advantage of the valuable tax incentives. Since the federal programs allow up to three years of amended return refunds and many states also allow retroactive benefit claims, immediate tax advantages can be secured along with favorable EPS impact.


These benefits range from $500 to $15,000 per employee, depending on the specific state and federal program.


In addition to these location-based credit programs, there are a number of federal programs which apply to virtually any business.  These programs include the Work Opportunity Tax Credit (WOTC) and the Welfare-to-Work (WtW) programs which can generate federal hiring credits ranging from $2,400 to $8,500 per qualified employees.  The 2009 federal Stimulus Package and California Budget Package expanded these programs even further.


These programs apply to a fairly wide range of employees, including many veterans, laid off/ unemployed candidates and those individuals with economic or medical challenges.


These programs are seldom accessed by taxpayers due to their unfamiliarity with the program specifics.   The significant tax reductions (including refunds) available under these programs should encourage every employer to start utilizing these state and federal programs immediately.


In addition to saving taxes, by hiring these economically challenged individuals, employers are contributing to their community.   Download Focusing on Unemployment 12.2008



Click here for my various 2009 CNN News Reports on the Stimulus Package, Tax and Economic Issues:




Download 2009 AICPA Top 10 Tips for Tax Planning





Click below to see our proprietary tax credit software and save taxes in any state:

See a video of our slick software that will tell you the hidden tax benefits for any address in the U.S.

Below are a number of links and articles that explain the state and federal program benefits:

Steering Tax Life on 'EZ' Street

With combined federal and state burdens often in the 40 percent range, a material reduction in a company's tax rate can produce significant savings.

State Tax Burden

More taxing than you might think. SALT in the wound?

Download Urban Success Mag Tax Break article

Urban Success Magazine Article (No Urban Legend Here – Tax Benefits are Real)

Download Hire a Hero 19May08

Hire a Veteran – Save Taxes While Changing a Life

Download 2009 AICPA Top 10 Tips for Tax Planning



2009 Stimulus Plan Tax Provisions – Summary of the $280 Billion Tax Incentive Package

Sunday, February 15th, 2009

2/17 Update



from The Wall Street Journal

Feb. 17, 2009

President Barack Obama signed into law the $787 billion stimulus package.

February 14, 2009 Posting:

Congress has passed the Recovery and Reinvestment Act of 2009 and President Obama is expected to sign this massive spending (62% of the Plan) and tax (38%) bill on Tuesday, February 17th.

2008 and 2009 tax refunds can be maximized by evaluating these new provisions – many applicable to the 2008 tax year.

While the $789 billion package was ultimately shaved down by approximately $100 billion during the Conference Committee phase, it is still a very bloated plan with only a small percentage devoted to infrastructure projects.  Only 3 Republican Senators (and no House Republicans) voted for the bill.

Over the weekend, the vast majority of congressmen interviewed admitted they had not read the document, but cast their votes based on a generally understanding of the provisions.  It is doubtful many grasp the magnitude of the dollar amounts contained in the bill.    Republican Senator, Mitch McConnell provided the most illustrative quote of what large sums of money are flowing out of the beltway:  "If you spent a million dollars every day since Jesus was born, you still would not have spent a trillion dollars".   There are lots of zeros floating around in these programs and the long term impact on inflation and the economy is pretty scary.

On a brighter note, the extensive tax revisions (over 50 modification to the Internal Revenue Code)- primarily applicable for 2008 through 2010 tax years are full of favorable tax incentives for a wide variety of taxpayers and industries.

Valuable depreciation benefits, alternative energy incentives and tax loss carryback rules can save small and large businesses millions of dollars over the next few years.

Please read the following summaries for details regarding business and individual tax changes and new tax planning opportunities.

Download 2009 AICPA Corporate Tax Stimulus Article      BEC AICPA Corporate Tax Provisions

Download House-Senate-Recovery-Act-Final 2009     CCH Individual and Business Summary

Download CA Budget Status Feb. 16, 2009   WSJ California Budget Update

Tax Zone Locator Software Allows Identification of Valuable Federal and State Tax Credits

Saturday, January 3rd, 2009

There are over 8,500 distinct state, federal and local tax incentive zones throughout the U.S. which allow businesses to claim valuable tax breaks ranging from: hiring credits, equipment credits, "green"/ pollution control, income, property and sales tax exemptions, and/ or other financial incentives.

Most of these tax incentive programs allow taxpayers to claim these tax breaks in prior years via current year documentation and in some cases via amended returns for up to four years.

Due to the lack of information on eligible locations and employees, NTCG has developed the only national database of eligible business and employee addresses, which allows users to identify tax credit eligibility in seconds.  Through our "batch screen" application, users can screen thousands of addresses quickly and accurately and use the results for tax planning, marketing or economic development purposes.

National Tax Credit Group,  LLC in cooperation with CCH (a Wolters Kluwer Company) has developed one of the most powerful and accurate web-based software solution to allow businesses to identify all of their business locations and employees that will generate these tax incentives. The attached brochure details the power of our NTCG/ CCH software and includes screen shots of the software and output.

Download NTCG Tax Zone Locator Brochure

Hiring credits typically range from $500 to $15,000 per "qualified" employee per year under the state Enterprise Zone, and Federal programs.  Statistically over 20% of businesses have one or more business facilities in a tax incentive zone and every business is eligible to claim credits under the Work Opportunity Tax Credit (WOTC) – $2,400 to $4,800 of credit per employee, or the $8,500 Welfare to Work (WtW) program.

The Tax Zone Locater Software allows users to document these credits and provides details regarding tax forms and logistics for claiming refunds and future benefits.

Read more about state and federal tax credits:

Download Don't_leave_valuable_incentive_credits_on_the_table 

Download 2007_Nat'l_TZL_2_Sided_flyer

Download NTCG_Nov21_Press_Release

Hiring Credit Programs Can Assist With Federal and State Unemployment

Sunday, December 21st, 2008

With the federal unemployment rate at 6.7% and the California rate rising to 8.4%, business owners and legislators should take a hard look at the wide variety of federal and state tax credit programs ranging from state Enterprise Zone (EZ) programs as well as the federal Empowerment Zone, Renewal Community, Indian Tribal Lands, and Rural Renewal County tax credit programs.

These relatively easy to access programs can generate state and federal hiring credits ranging from $500 to $15,000 per qualified employee annually.  In addition, many state programs have added benefits such as equipment credits, liberalized business loan and grant programs, tax holidays and sales tax incentives.

By accessing these existing programs, employers can dramatically reduce their labor costs while helping to reduce the unemployment rate in their region.

Download 2008-dec-skyrocketing-unemployment-lbics-1  

Download Nov 08 Unemployment FED