If you are hiring 5 or more employees per year, you may be missing an opportunity to recover a tax credit called W.O.T.C.
This is NOT a tax write-off. It’s a TAX CREDIT available for positions you fill.
If you are not aware of this program, then you are not using it. Your tax professional is not doing this without your knowledge and most tax professionals do not have the personnel, nor the expertise, to chase down these dollars for you!
WE DO! And we have been doing it for years!
Recently Gallup did a study and found that more and more people are using credit and debit cards due to online shopping and convenience.
Infact, only 21 percent of the respondents said they use cash compared to 39 percent 5 years ago.
It seems that the biggest shift for this is millennials using more and more the plastic in their pocket.
Why is this killing your bottom line you ask? “I already planned for it in my calculations”. The problem is that you know what you are supposed to be charged based on the contract that you have with your processor. What you are actually getting is completely different.
Cash is King— regardless if you are growing or just trying to stay open, in business, cashflow is there to keep you afloat — it’s always needed, no matter your business.
Cost segregation achieves large cash flow savings but is generally overlooked by businesses or their CPA’s. Most businesses are not receiving this benefit and its cash flow value.
Cost segregation is:
Risk free: There are no fees unless the business can recover the savings.
Regardless of who’s camp you are in and what your political views are, or are not. Neither one of these candidates will help you recover lost expenses or file documents for recovering government tax incentives. In fact, no administration would.
When I sit down with business owners and discuss what I do, it is very exciting to see that with all the current bad news in todays business, political, geo-political world there is some great news for them as well. In a 10-15 minute meeting they get to find out if they can qualify to recover $100,000.00 for their business, and based on our company averages potentially more. Some companies its dramatically more.
It’s your retirement party at the office after working for the company for 25-30 years and you are ready for the time you can wake up late, go golfing, travel when you want, just do whatever you want. Your colleagues are congratulating you and you know that first monthly pension payment will be in your account in 15 days.
15 days later you wake up at 10am (cause you can…) and log into your bank account to pay some bills that are due and you feel weak in the knees and about to pass out.
What, there is only about 60% of what you thought would be there. This must be a mistake you think. Right away, you call the HR department to have them correct the mistake.