Federal Tax Credits are a valuable way to reduce a company’s federal tax liability. Opportunities include wage based and geographic based tax credits. These federal tax credits are offered to employers depending on where they do business and their employee demographics. Companies often miss out on these tax credits due to the complexities of federal regulatory reporting, and ongoing monitoring that is required.
Walton Management Services (WMS) offers a turnkey solution that achieves the greatest results for its clients by coupling nearly thirty years of program expertise with the use of industry standard software and servers that are maintained by in-house specialists. At the same time, we review for other federal and state hiring tax credits that can be seamlessly integrated into our WOTC process.
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The federal Work Opportunity Tax Credit (WOTC) and Welfare-To-Work (WtW) tax credit provide companies with an incentive to hire people from 9 targeted groups. In all likelihood, you're already hiring from these groups, but the administrative burden of applying for the credits keeps many businesses from participating. We have specialized in WOTC/WtW and its predecessor programs for more than 27 years, and our process for capturing these credits is straightforward and painless.
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Providing the same services for Work Opportunity Tax Credits, Walton Management will translate your existing hiring practices into significant tax savings, without any administrative headaches. Contact us today and find out the difference between Welfare-To-Work tax credits and Work Opportunity Tax Credits, including how we can save you thousands of dollars every year.
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Empowerment Zone incentives include employer tax credits, project facility bonds, and capital gain tax exemptions on cash investment earnings. These Incentives increase commercial activity, expand job opportunities, and promote regional vitality. Walton Management uses a straightforward one-step process to calculate your credits. The result: no intrusion, no paperwork, and a quick and thorough calculation of your Zone credits.
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The Native American Indian Employment Credit provides employers with tax credits that offset a company’s federal tax liability. This federal tax credit provides an incentive for employers to hire and retain individuals who are enrolled members of an Indian Tribe, and who live on or near an Indian Reservation. This includes the spouse of a member of a tribe. If you hire enrolled members of a Native American Indian tribe you are eligible for a federal income tax of up to $4,000 per eligible employee. However, Federal compliance is complex and very labor intensive. Walton Management Services can assist a company in determining if their business qualifies and if it does, securing the full amount of the credit they are entitled to.
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The New Markets Tax Credit (NMTC) Program is a federal program designed to make investment capital available to businesses in qualifying low-income communities. The purpose of the program is to create jobs and encourage economic growth. The program permits taxpayers to receive a 39% credit against federal income taxes for making qualified equity investments in designated Community Development Entities (CDEs). All of the qualified equity investment must in turn be used by the CDE to provide investments in low-income communities to most types of business. The credit is claimed over a seven-year credit allowance period. Businesses eligible to receive NMTC financing are corporations, partnerships, sole proprietors and not for profits that are in a low income community. An organization wishing to receive awards under the NMTC Program must be certified as a CDE by the Fund.
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Research and Development federal tax credits are available throughout the United States. The latest WOTC legislative changes have liberalized R&D Tax Credit opportunities, creating an even greater opportunity over previous years. R&D tax credits exist for companies that design systems and implement technologies; for companies that perform experimentation tests, and for companies that have any type of information technology or product development. More often than not, even failed projects qualify. Eligible costs include: wages, supplies, and research expenses. However, due to lack of expertise, finding the proper documentation required to claim the credit is complex and highly labor intensive. This is where WMS can help. WMS will perform an analysis to capture all the expenditures a client can claim for an R&D tax credit and simultaneously identify any retroactive opportunity.
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© Copyright 2007 Walton Management Services, Inc.
Headquarters: 3321 Doris Ave, Ocean, NJ 07712 | (732)531-7117
National Capital Area Office: 8484 Georgia Ave, Suite 330, Silver Spring, MD 20910 | (301)495-6655
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1-800-221-0832
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