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Hiring and Training Incentives Uncovering Hidden Opportunities Bill Becker, CEO Incentives Advisors T: 480.362.9516bill.becker@incentivesadvisors.com | www.incentivesadvisors.com
Discussion Overview ,[object Object]
Current market trends.
Screening process.
Measurement for success.
Beyond screening / hiring credits.
Does your company qualify?
Why do companies opt out?
Selling to finance.
Qualifying questions for a tax incentives company.,[object Object]
make it easy by leveraging HR technology?
capture even more incentives by making simple changes to existing processes?,[object Object]
A little background ,[object Object]
Programs encourage investment/hiring
Increase cash flow by reducing the amount owed in estimated quarterly or annual income taxes dollar for dollar.
Process to claim these credits is complex and can be time-consuming, leaving many incentives unclaimed. ,[object Object]
2010 federal payroll incentive that targets the unemployed.
New state programs focus on reducing unemployment and creating jobs.
Now is the time to capture these available funds.,[object Object]
Work Opportunity Tax Credit (WOTC) ,[object Object]
Encourages employers to hire individuals who qualify as a member of a targeted group:
Dislocated workers.
Veterans.
Qualified youth.
Receiving government assistance.
People hired from disadvantaged areas.
And more…
Provides a federal tax credit up to $9,000 if you hire these individuals.,[object Object]

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Incentives Advisors Hire Minds Presentation

Editor's Notes

  1. (Refer to slide)
  2. But first, I’d like you to think about a couple of things…(Refer to slide)
  3. (Refer to slide)If a or b, discuss benefits of pursuing creditsIf c or d discuss benefits of automation
  4. Every year there are billions of dollars in federal and state tax dollars available to employers who qualify.Programs for hiring, training, creating jobs, retaining jobs, capital investments, renewable energy, energy efficiency.Increase cash flow by reducing the amount owed in income taxes (or even cash payments)Process to claim these credits is complex and time-consuming, leaving many incentives unclaimed.
  5. (Refer to slide)Discuss e-signature
  6. Discuss why this is an imperfect processSince some of you may not be as familiar with hiring credits, I wanted take you briefly through the process. When a job seeker applies for a job, this is the best time for them to complete the 8850 form. When screening with paper , you don’t always get every candidate to complete a form.Then the hiring manager needs to submit the signed 8850 to either your tax partner or the state dept of Labor within 28 days of hire.If you have multiple hiring locations, the largest amount of work is following up with those locations. And getting all of the signed forms submitted in time. The Dept. of Labor certifies eligible hires. If they can read the Social Security Number, the biggest reason for rejection
  7. Refer to slide…then: There are a couple of different pricing models that Tax Incentives companies offer:A Contingent pricing model is % based on tax dollars captured. Fixed fee model is monthly fee based on employee count.There are several advantages to a Fixed fee model: Can be budgeted.More cost effective. The more credits the company earns, the bigger the discount.Typically the more employers participate (paying monthly), the more successful the program.No big invoice at the end of the year.
  8. Thank you! Do you have any questions?