On August 28th I had the privilege of joining Rachel Berner, owner of Second Chance Jobs, on her webinar where I got to present on the tax savings available through the Work Opportunity Tax Credit (WOTC)!
If you’re not familiar with the WOTC, it is a tax Federal tax credit that incentivize businesses to hire candidates from 10 groups that historically have faced barriers to employment. Businesses can earn a credit of $1,200 – $9,600 per qualifying employee that they hire. With no cap on how much a business can earn, and with an estimated $2.9 – $4.7 Billion in WOTC credits given out (2023), there is a lot of opportunity for businesses with this credit!
Some of the highlights from the webinar included:
- Legislative update from Drew Weinstock of Pennsylvania Congressman Lloyd Smucker’s office – 0:00
- Intro to Second Chance Jobs & overview of federal bonding program from Rachel – 7:02
- Overview of the WOTC – 18:18
- What is it?
- FAQ
- How to take the credit
- Examples
- Q&A
- Link to WOTC resources
- Laurel Riehl of Proodos Consulting on personality assessments for employers – 45:16
I hope you get some valuable nuggets from this presentation!
