Posts Tagged ‘food stamps’

Work Opportunity Tax Credits: What Are They And How Can They Help California Businesses

The flagging economy has hit local cities very hard.  There are sharply rising unemployment numbers as companies cut back on labor due to reduced product demands.  In the state of California, the state has recognized forty-two enterprise zones.  These zones are in economically challenged areas.  The state of California wants to bring businesses back to these struggling areas, and in order to do this the state offers work opportunity tax credits for companies located within any one of the enterprise zones.  

What are work opportunity tax credits?

As offered by the state of California, work opportunity tax credits are hiring tax credits.  In order to encourage businesses in enterprise zones to hire individuals that often are at a disadvantage when looking for work, an enterprise zone hiring tax credit of up to ,000 per qualifying employee may be available to your business.  

» Read more: Work Opportunity Tax Credits: What Are They And How Can They Help California Businesses

How The Hiring Tax Credit Can Drastically Reduce Your Corporate Tax Liability

Federal hiring credits, tax credits for hiring veterans, work opportunity tax credits and enterprise zone hiring tax credit are some of the top means that corporations located in California can use to save on next year’s tax debt.  However, many California companies fail to take advantage of these substantial hiring tax credit benefits, simply because they are unaware of them.  This is a major reason why you will want to start now with planning for next season’s corporate taxes, and the person who is best qualified to offer sound advice in this regard is a certified public accountant with a background in corporate tax credits.  Working with this professional, who has expertise in this strategic area, can bring your corporate tax bill down dramatically.  

WOTC California, also known as work opportunity tax credits, is a type of hiring tax credit that can help your company save at tax time.  This is a federal tax credit that can offer from ,400 to ,000  per employee that qualifies.  

Another hiring tax credit similar to WOTC in terms of how employees qualify is the enterprise zone hiring tax credit.  This is a state-based hiring tax credit that will allow you to take credit for certain employees that are in designated groups, and this includes your ability to claim tax credits for hiring veterans.  The veterans must be disabled, and unemployed veterans who have been discharged from the armed services in the last five years and have seen at least one hundred and eighty days of active duty, have been discharged or released due to a service-related disability, as well as veterans who recently quality for food stamps would all be eligible for enterprise zone as well as work opportunity tax credits.  The enterprise zone tax credits can range all the way up to ,000 per qualified employee annually, and you may be able to apply the credit to next year’s debt or to apply it to previous years’ balances under certain circumstances.

» Read more: How The Hiring Tax Credit Can Drastically Reduce Your Corporate Tax Liability

The Other America

Recently, one of the Network News agencies, has chosen to warm our hearts with a new Series “the Other America”. The content is good. Overall the series is supposedly a Media example of their “sensitivity”. In reality it’s an example of their elitism, blinded by daily life, lack of understanding of what life is to millions and millions of Americans. The series is as enigmatic to the people it is profiling as is the plight of the majority of Americans to 99.9% of all politicians. “the Other American” being reported on is America! The media, the politicians, and most of upper-middle class America, are… really… the “Other America”. The only class that is constantly growing in the U.S. any longer, is, the “poor”.

There is a very great consensus in the “more fortunate” America, that Welfare recipients are the representation of poverty. Hogwash. People on Welfare programs get cash subsidy, food stamps, and some of the best health care available. Just because they may not have a car… does not make them the “Poor”! In most areas they also get bus passes. They qualify for subsidized housing because they have a reliable payday with a consistent amount, every month, and… they wear out a lot of TV’s!

» Read more: The Other America