Many businesses are either not aware or don’t have the time to take advantage of all the great federal and state tax credits available to businesses. We can help. Honkamp Krueger & Co., P.C. has a great track record of working with companies in pursuing these very lucrative credits. We have saved companies from all 50 U.S. states thousands of dollars in tax credits.
We have a proven track record of producing results due to our vast knowledge of tax credits and accessible customer service. When you call us, you will speak to a live, knowledgeable person who will answer your questions immediately. Each one of our clients is assigned a specific support person who stays in close contact to make sure we are maximizing all available credits.
Current tax credits include:
Federal tax credits
- Work Opportunity Tax Credit (WOTC) program credits up to $2,400 per employee. WOTC works for companies with employees who fit in one of these categories: TANF recipients, veterans on welfare, disabled or unemployed veterans, vocational rehabilitation referrals, summer youth employees, qualified ex-felons, supplemental security income recipients, food stamp recipients, disconnected youth, long-term family assistance recipients, enterprise zone residents, empowerment zone residents, renewal community residents and rural renewal county residents
- Welfare to Work credits up to $9,000 per employee. The objectives of this federal program are to help individuals move off of welfare through employment.
- Empowerment Zone credits up to $3,000 per employee per year. Empowerment Zones partner federal, state and local governments to help stimulate renewal in distressed urban neighborhoods and rural areas. Special emphasis is placed on economic growth and social development that strive for long-term change and demonstrates working partnerships among various governmental entities. To receive this federal government credit, your employees must live and work in the Empowerment Zone.
- Renewal Community Zone credits up to $1,500 per employee per year. The Renewal Community is a federal designation for low-to-moderate income areas in large metropolitan areas. Its objective is to persuade businesses and developers to invest in these neighborhoods to further stimulate economic development and job creation. To receive this credit, your employees must live and work in the Renewal Community Zone.
State tax credits
Each state has its own business credits or incentives to stimulate the economy; we are actively pursuing these credits to provide our clients with the highest amount of credits possible. The list below is just a few examples of the many different state tax credits available:
- Enterprise Zone credits
- Hiring disadvantaged worker credits
- Hiring credits and refunds
- Job creation credits
Contact us today to learn more about federal and state tax credit services.