Many small to mid-size companies are unaware of these programs or do not realize they already hire qualified job seekers.
Nearly any for-profit company can benefit from the government’s hiring incentive program.
Your entity type defines how your accountant / CPA will apply the credit, but all benefit including:
- Sole Proprietor
Tax credits off-set tax liability dollar for dollar. Some companies use credits in their tax planning to off-set quarterly estimated payments. Some companies use credits at the end of their tax year against annual tax liability. In the event of no tax liability, tax credits can be carried forward for up to twenty years. Consult with your tax professional for how to best use these incentives.
Companies that achieve particular value from the program have an hourly workforce and volume hiring needs, however nearly every hiring / growing company can benefit.