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Tax Credit Consulting: Work Opportunity Tax Credit Moundsville WV

Tax credits are often used to encourage activities that are considered beneficial to the society. The credits become political issues that reflect the goals of the Government as well as providing relief to deserving taxpayers. Read more.

Harold D. Vealey (RFC®), CLU, LUTCF
(304) 346-2154
910 Chester Road
Charleston, WV
Company
Vealey Financial Services
Qualifications
Education: BA
Years of Experience: 43
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, BuySell, Compensation Plans

Data Provided by:
H&R Block
(304) 645-1279
540 N JEFFERSON ST
LEWISBURG, WV

Data Provided by:
H&R Block
(304) 229-0317
372 Middleway Pike Ste E
Inwood, WV

Data Provided by:
H&R Block Inside Sears At Grand Central Mall
(304) 485-4749
500 GRAND CENTRAL AVE
VIENNA, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
128 Emily Dr
Clarksburg, WV

Data Provided by:
Mr. Gregory R. Metcalf (RFC®), RFP
(307) 723-5018
200 Ivy St
Weirton, WV
Company
Horizon Financial Group
Qualifications
Education: Ohio University, BBA FinanceCollege for Financial Planning's CFP Certification Professional Education Program
Years of Experience: 15
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection

Data Provided by:
H&R Block
(304) 258-8777
318 N WASHINGTON ST
BERKELEY SPRINGS, WV

Data Provided by:
Tax Tech
(304) 296-1040
990 Fairmont Rd Ste C
Morgantown, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
735 Chestnut Ridge Rd
Morgantown, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
411 W King St
Martinsburg, WV

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Tax Credit Consulting: Work Opportunity Tax Credit

Work Opportunity Tax Credit

The Work Opportunity Tax Credit was extended to 2011 and provides tax credits to employers to encourage them to hire employees from targeted groups.

Work Opportunity Tax Credit

Tax credits are often used to encourage activities that are considered beneficial to the society. The credits become political issues that reflect the goals of the Government as well as providing relief to deserving taxpayers. The Work Opportunity Tax Credit is a good example of this type of Tax Credit. The credit was started in 1996 and has been extended by Congress and will remain in force until 2011. The Work Opportunity Tax Credit, often known as WOTC, encourages employers to hire workers that might otherwise find it hard to find employment.

The employees are called targeted employees. The groups of targeted employees include such groups as ex-felons and people receiving Food Stamps or other forms of Welfare. Other targeted groups were veterans on Food Stamps and members of families receiving various forms of public assistance. The program was politically motivated by the idea of moving more people from the welfare rolls to the workforce. This issue was very popular in the mid 1990's when the credit was begun and remains a hot political issue today.

In its original form the Work Opportunity Tax Credit was a set amount that could be claimed by the employer when he hired an eligible employee during the tax period. The new version allows a percentage of the employees earning to be claimed rather than a set amount. There are certain restrictions in place also. The employees can not be former employees in any way or manner. This is regardless of how long ago the employee had been employed or for how long. Family members of business owners were ineligible as well.

The program has received a great deal of support from the employment services of the various States. Many States pass out information to potential employers informing them of the credit, e...

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