Many businesses today are finding out that it is becoming more and more difficult to screen new hires for work opportunity tax credits. This is where a program like WOTC integration comes into play. As a the person who does most of the hiring for your company you will be tasked with screening any potential employees for their eligibility when it comes to determining whether or not they would qualify as a possible credit employee. However, the law does not permit making this a requirement for employment; in fact, you are not even supposed to ask about it. This is why it is important to prescreen workers before they are going to be hired and that is where integration comes in.
Third Party Companies Can Aid You
There are a lot of tax companies that are willing to help you with the screening process. They will be able to help you screen every potential hire and maximize your tax credit earning potential. It might seem a bit strange farming out potential worker’s information to a third party but there role in the process is simply to help you make the determination without causing a big ruckus. If you take your time and ask the right questions and get the appropriate information either orally or via an application form the whole process becomes like clockwork and you will be able to make sure you are finding and getting all the relief that you are due.
Maximizing Your Write Offs
When the end of the year comes you will probably find yourself looking up at a large bill from the government. This can be a big problem for some smaller companies that can’t handle such costs. That means that you are going to need to get as much help from any sources that you can; whether that be WOTC or any other state or federal programs that are available to you. If you pay close attention to your new hires and work closed with a tax firm then you should be able to start the process of minimizing the damage that will be done come the end of the year.
Integration is one of those things that many companies could really use and not many take advantage of. The smaller businesses are especially guilty of this. The bottom line is that if they did they could make much better use of the programs available to them and come the end of the year benefit their bottom line.