Cornerstone Business Services LLC

Tax Credits - $ for $ Against Your Tax Liability

There are Potential Tax $avings for Each New Employee

Our tax credit specialists will work with you to reduce your tax liability by obtaining the following tax credits:

Work Opportunity Tax Credit (WOTC)

Welfare to Work Tax Credits (WtW)

State Incentive Programs

Your Company Locations Can Have Potential Tax $avings

Empowerment Zone Tax Employment Credit (EtE)

State Incentive Programs

To be eligible to claim the WOTC, WtW and state tax incentives, your company must apply and receive certification from the state employment agency.

Our services ensure compliance on a timely basis.

The calculation of the credit is based upon dates of hire, period of employment, number of hours worked, state certification and location of employment site.

Our services include the calculation of the credits.

Our fees are based upon your actual tax credits.

THE WORK OPPORTUNITY TAX CREDIT (WOTC)

Tax $avings:

Up to $2,400 (40% of the first $6,000 of Wages) per qualifying employee for the first 12 months of employment.

Requirements:

¤	Hire an individual from the following target groups:
		Qualified Food Stamp Recipients
		Supplemental Security Income (SSI) Recipients
		Vocational Rehabilitation Referrals
		Qualified Summer Youth Employees
		Qualified Veterans
		TANF/Welfare Recipients
		Ex-Felons
		18 - 24 year-old Federal Empowerment Zone or Enterprise Community Resident
¤	Certification that the employee is in one of the above target groups MUST be received from the state employment agency in order to be entitled to utilize the tax credit.
¤	The employee must work over 400 hours.
¤	The credit is reduced to 25% for 120-399 hours.

Our tax credit specialists will review the applications,
interact with the state agency upon your behalf,
and ensure timely compliance and proper documentation
to obtain the tax credit.

THE WELFARE TO WORK TAX CREDIT (WtW)

Tax $avings:

	¤	Up to $8,500 per qualified employee:
	¤	Maximum credit $3,500 (35% of the first $10,000 of wages) for the first year of employment.
	¤	Maximum credit $5,000 (50% of the first $10,000 of wages) for the second year of employment.

Requirements:

	¤	Hire an individual that qualifies as a *long-term family assistance recipient*.
	¤	Certification that the employee qualifies as a "long-term family assistance recipient" MUST be received from the state employment agency in order to be able to be entitled to utilize the tax credit.
	¤	The employee must work over 400 hours or 180 days.

Our tax credit specialists will review the applications,
interact with the state agency upon your behalf,
and ensure timely compliance and proper documentation
to obtain the tax credit.

EMPOWERMENT ZONE TAX EMPLOYMENT CREDIT

Applicable to business locations in designated economically distressed urban & rural areas

Tax $avings:

Up to $3,000 (20% of the first $15,000 in wages) per qualifying employee for each year of employment.

Requirements:

The location of employment must be in an empowerment zone.
The employee must reside within the empowerment zone that he or she performs substantially all of his or her services for your trade or business.

Our tax credit specialists can determine whether
your company and new hires are in the empowerment zone,
as well as how far your location is located from the zone.

STATE INCENTIVE PROGRAMS

Tax $avings:

	¤	Differ from state to state.

State Incentive Programs include tax credits applicable for expansion, new hires, business location and type of industry.

Our tax credit specialists:

	¤	*Investigate and identify tax incentives applicable to your company*
	¤	*Establish relationships with federal and state tax incentive program administrators*
	¤	*Aggressively pursue all state credits that are available throughout the country*
	¤	*Are informed of changes in tax laws and new credits from ongoing research and correspondence with state incentive program coordinators*