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If someone could tell you how to save thousands of dollars in taxes would you listen? Yes? Answer the following 3 questions…

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Presentation on theme: "If someone could tell you how to save thousands of dollars in taxes would you listen? Yes? Answer the following 3 questions…"— Presentation transcript:

1 If someone could tell you how to save thousands of dollars in taxes would you listen? Yes? Answer the following 3 questions…

2 Is your company an LLC, LLP, SUB S Corporation, Partnership, Sole Proprietorship or C-Corp. and paying federal or state income taxes? YES Through turnover or growth of your business, do you hire more than 7 employees a year? YES Would you like to reduce your taxes and only pay for the service if it works for you? YES!! Is your company an LLC, LLP, SUB S Corporation, Partnership, Sole Proprietorship or C-Corp. and paying federal or state income taxes? YES Through turnover or growth of your business, do you hire more than 7 employees a year? YES Would you like to reduce your taxes and only pay for the service if it works for you? YES!!

3 Annual tax credits based on current New Hires trends - Approximately fifteen percent of new hires qualify for just the WOTC tax credit which is up to $2,400. In addition there are credits up to $8,500 for the W2W, up to $3,000 for the EZ and up to $1,500 for the RC for each eligible employee. There is no risk to your company. An estimated return to your company for just the Work Opportunity Tax Credit is as follows: –It takes less than 2 minutes to prescreen each new hire. There is a potential savings of approximately $15,000 per 100 new hires. Your Human Resources Department gives you a $15,000 return for 3.33 hours of work. Where else does your company get a similar return? –To equate tax credits to sales, a company with a 5% profit margin would have to increase their sales by 1 million dollars ($1,000,000) for every $50,000 of tax credits. Credits are dollar for dollar reduction of taxes for your company. If your company is an LLC, LLP, Sub S Corporation, Partnership or a sole proprietorship, these credits pass to the individual tax return of the member, shareholder or partner. Decrease tax payments / Increase cash flow. High Return on Investment service and Fees are paid only if benefits are earned.

4 StateCredit One page consisting of 10 questions is answered by the new hire and faxed to the Tax Credit Processing Center. If the employee pre- qualifies, 2 pre- filled forms will be sent to that location to be completed by the new hire and mailed into TCPC. The Tax Credit Processing Center assembles the application and mails all necessary paperwork and supplemental information to the appropriate state agency. You receive a detailed report monthly for each location to monitor compliance. TCPC stays in contact with the state Work Opportunity Tax Credit Office to monitor where each application stands. At the end of your fiscal year, the Tax Credit Processing Center will provide you with a return showing all the credits for which you are due. The credits are a dollar for dollar reduction in the taxes owed to the IRS at the end of your tax year. ProcessApplication

5 15% of new hires qualify for a tax credit, of those who qualify the average tax credit realized is $1,320. 15% of new hires qualify for a tax credit, of those who qualify the average tax credit realized is $1,320.

6 Contact Linda McBee Local Phone # - 443-459-4363 Toll Free - 877-624-4902 Linda@lmcbee.com www.lmcbee.com


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