John A Ekdahl

Tax Credits

Unlock substantial savings and enhance your business’s financial performance with expert guidance on federal tax credits, like the Workers Opportunity Tax Credit (WOTC), from PTC Business Consulting.

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Tax Credits

Unlocking the potential of federal tax credits can significantly enhance your business’s financial performance. At PTC Business Consulting, we specialize in identifying and securing these valuable incentives for businesses like yours. One of the most impactful tax credits we help businesses obtain is the Workers Opportunity Tax Credit (WOTC).

Workers Opportunity Tax Credit (WOTC)

The WOTC is a federal tax credit available to employers for hiring individuals from certain targeted groups who face significant barriers to employment. This incentive encourages workplace diversity and provides substantial savings on employment costs.

Benefits of WOTC:

  • Reduce Employment Costs: The WOTC can provide a tax credit of up to $9,600 per qualified new hire, directly reducing your business’s employment costs.
  • Encourage Diversity: By hiring from targeted groups, you not only benefit financially but also contribute to a more diverse and inclusive workforce.

Targeted Groups Include:

  • Veterans
  • Long-term unemployed individuals
  • Individuals receiving certain types of public assistance
  • Ex-felons
  • Designated community residents

Why Tax Credits Matter

Tax credits directly reduce the amount of tax your business owes, leading to immediate financial benefits. Unlike deductions, which only reduce your taxable income, tax credits provide a dollar-for-dollar reduction in your tax liability.

Key Advantages:

  • Immediate Financial Impact: Tax credits can significantly reduce your tax bill, freeing up capital for reinvestment in your business.
  • Increased Cash Flow: By lowering your tax liability, you retain more of your earnings, enhancing your cash flow and financial stability.
  • Competitive Edge: Utilizing tax credits effectively can give your business a financial advantage over competitors who may not be leveraging these opportunities.

 

e-tax Invoice concept

Our Process

At PTC Business Consulting, we make it simple for you to take advantage of these tax credits. Our expert team will guide you through every step of the process, from identifying eligible hires to filing for the credits.

  1. Initial Consultation: We begin with a free consultation to understand your business and identify potential tax credit opportunities.
  2. Eligibility Assessment: Our team evaluates your workforce and hiring practices to determine which credits your business qualifies for.
  3. Documentation and Filing: We handle all the necessary paperwork and ensure accurate filing to secure your tax credits.
  4. Ongoing Support: As tax laws and regulations change, we provide ongoing support to ensure you continue to maximize your benefits.

Success Stories

We have helped numerous businesses unlock substantial savings through tax credits. Here are a few examples:

  • Manufacturing Company: By hiring veterans and long-term unemployed individuals, this company secured over $200,000 in WOTC credits.
  • Retail Chain: Utilizing the WOTC, this retailer reduced its annual tax liability by $150,000, enabling expansion and new hires.
  • Tech Startup: With our guidance, this startup leveraged R&D tax credits alongside WOTC, resulting in over $300,000 in savings.

 

Our Service

Act Now

Don’t miss out on the opportunity to enhance your financial performance through tax credits. The sooner you start, the sooner you can benefit from substantial savings and improved cash flow. Schedule your free consultation with PTC Business Consulting today and take the first step toward maximizing your tax credit potential.

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