Mobile Health now provides access to tax credit service professionals to help clients acquire the tax credits they deserve by hiring new qualified employees. These tax credits can add up to $9,000 per new hire but many companies are unaware of their existence or how to manage the process with the state and federal governments.
Over the last 10 years, our partner vendors successfully recovered over $700 million dollars in tax credits and refunds for their clients. These credits are a direct benefit to companies looking to lower their tax bills and increase their profits.
Most of these credits are a result of the Work Opportunity Tax Credit (WOTC). The WOTC provides federal benefits for employers who hire economically dependent Americans in hopes of providing a path towards greater self-sufficiency. All US employers who pay taxes are eligible for the WOTC.
Managing a WOTC program can be complex and require special attention to legal specifications. Mobile Health’s partner can break down the complexities of the program and provide a streamlined approach to ensure every cent deserved is earned.
Here is an example of sample WOTC’s for each new hire:
- $1200 for new summer youth hire
- $2400 for new adult hire on Snap Benefits
- $5600 for new disabled veteran hire
- $9000 for new recipient of long-term family assistance hire
In addition these standard credits, there are 12 main categories of eligible individuals who may provide an employer with additional credits:
- Long-term recipients of Temporary Assistance to Needy Families (TANF)
- Certain other TANF recipients
- Qualified food stamp (or SNAP) recipients
- Residents of designated communities (federally designated Empowerment Zones, Enterprise Communities, Renewal Communities and Rural Renewal Counties)
- Summer youth employees
- Qualified veterans (includes those on food stamps for a certain length of time and disabled veterans)
- Referrals from a state-certified vocational rehabilitation program
- Qualified ex-felons
- Recipients of SSI (Supplemental Security Income)
- Individuals who lost employment due to Hurricane Katrina
- Unemployed veterans
- Disconnected youth (as defined by the law)
By combining our partners’ vast experiences in managing tax credit programs with Mobile Health’s technology of employee screening, clients are able to process more employees fast and earn more credits then before. Both companies’ online portal allow for a completely paperless solution.
