Many federal and state employment tax credits are available to businesses yet thousands of dollars go unclaimed every year. Why? Although tax credits can be lucrative for a business, they are complex to identify and recoup. But you should not let the complexity of tax credit programs hinder you from pursuing them. They are a “low-hanging fruit” opportunity to increase your bottom line.
The most opportune way for you to pursue tax credits is to partner with an experienced firm who already has a proven track record for claiming millions of dollars in tax credits. Honkamp Krueger & Co., P.C. is available to claim your deserved tax credits for you.
A CPA and business consulting firm that has been recognized in the Top 100, Honkamp Krueger has an established tax credit department with full-time staff to research, apply and recoup your tax credits. With over 60 years of experience as a CPA and business consulting firm, you can count on HK to uncover the tax credits for which you are qualified. Our superior, accessible people will provide all the help you’ll need, whether it’s quickly answering a question, untangling “government speak” or simply talking to you about our tax credit program. To ensure we are taking advantage of all the possible incentives on both federal and state levels, our in-house tax department provides continuous, thorough tax credit research.
Here is a snapshot of current employment tax credits we aggressively pursue for our clients:
Federal tax credits
Work Opportunity Tax Credit (WOTC) Program: Up to $2,400 per employee
You may qualify if you have employees who fit in these categories:
- Short Term Temporary Assistance for Needy Families (TANF)
- Veteran on welfare or unemployed
- Vocational rehabilitation referral
- Summer, high-risk youth
- Ex-offender
- Supplemental Security Income recipient
- Food stamp recipient
- Enterprise Zone resident
- Long Term Temporary Assistance for Needy Families (TANF) - up to $9,000 credit!
State tax credits
Each state varies, but the following are examples of credits commonly pursued:
- Enterprise Zone credits
- Hiring disadvantaged worker credits
- Hiring credits and refunds
- Job creation credits
Who do we work with?
Honkamp Krueger pursues tax credits for organizations in all 50 states. In our experience, organizations with over 100 employees with high turnover of hourly employees tend to receive the biggest benefit from the federal and state employment tax credits. Not an exclusive list, here are some sample industries:
- Staffing
- Call center
- Health care
- Convenience stores
- Hospitality
- Manufacturing
- Restaurants & fast food chains
Contact us today to learn more about federal and state tax credit services.