Independent Articles and Advice
Login | Register
Finance | Life | Recreation | Technology | Travel | Shopping | Odds & Ends
Top Writers | Write For Us


PRINT |  FULL TEXT PAGES:  1 2 3 4 5 6 7
How to Obtain Tax Benefits with the General Business Credit 
 
by kmhagen September 14, 2005

Work Opportunity Credit - Form 5884

A credit that provides an incentive to businesses to hire persons from groups with a particularly high unemployment rate or with special employment needs. The credit is based on first-year wages paid to targeted group employees, including recipients of Temporary Assistance for Needy Families, veterans, ex-felons, high-risk youth, vocational rehabilitation referrals, summer youth employees, food stamp recipients, and social security insurance recipients.  The credit is 25% of qualified first-year wages for employees who worked for you for more than 120 hours but less than 400 hours, and 40% of qualified first-year wages for employees who worked for you for 400 hours or more.  To claim this credit you must request and obtain a certification for each employee from the SESA, proving that the employee is a member of one of the targeted groups mentioned.  You can also use Form 8850 as referenced above for the welfare-to-work credit.

PREV PAGE 1 2 3 4 5 6 7 NEXT PAGE

 




Home  |  Write For Us  |  FAQ  |  Copyright Policy  |  Disclaimer  |  Link to Us  |  About  |  Contact

© 2005 GoogoBits.com. All Rights Reserved.