Employee Hiring Tax Credits

Each year, companies leave billions in federal and state tax credits and incentives unclaimed. Your business doesn't have to be one of them! Mr. CostSaver wants to show you just how easy it is to take advantage of these lucrative tax credits.

Did you know that up to 20% of new hires qualify for tax credits worth up to $9,000 per eligible new hire? Mr. CostSaver wants to make sure your company's tax credit potential is reached. Our processes will help you reduce or even eliminate your tax liability. We offer flexible processing methods for companies of any size or industry and eliminate up to 86% of the paperwork. Here are some examples of the programs:

Work Opportunity Tax Credit (WOTC)

This tax credit is available for businesses who hire employees from one of 8 different demographic areas. It is a one year credit that can earn your business up to $2,400 in credits per employee.

Welfare to Work Tax Credit

Formerly an independent credit, Welfare to Work now falls under the OTC category as Long Term Family Assistance Credit. It is a two year credit from date of hire, earning up to $9,000 in credits per employee for your business.

Empowerment Zones and Renewal Communities

Specific geographic areas have been designated in order to offer special tax credits and incentives to stimulate local investment and employment. Employment zones offer savings up to $3,000 per year for all empoyees who live and work in the designated communities. Renewal communities offer savings up to $1,500 per year for all who live and work in the designated communities. 

Disaster Recovery Tax Credits

These credits are available to businesses hiring individuals affected by Hurrican Katrina or by retaining employees while the businesses were inoperable as a result of Hurricane Katrina, Rita or Wilma. Employers can earn $2,400 in tax credits per retained or qualifying new emploee. 

FICA Tip Tax Credit

This credit provides the food and beverage services industry with a tax credit for the amount of the FICA tax obligation attributable to employee tips received in excess of minimum wage provisions.

State Tax Credits and Incentives

There are many different types of state tax credits and incentives available for businesses. Some are hiring credits while others deal with matters such as company expansion. Our dedicated team will search your area for any of these credits available for your company.

Mr. CostSaver is committed to serving our clients' needs. We would love the opportunity to prove that we are the best in providing specialized tax credit services.

Call us today at 717-473-3441 to schedule our Tax Credit Analysis. You'll receive a FREE estimate of yearly annual savings for your company. Or contact us using the Question Form on the right side of this page.