
Many business owners and executives don’t know the first thing about wage-based tax credits. Frankly, that’s OK with me, especially since that’s what we’re all about. RetroTax was conceived to help remedy that problem and then assist with the administration of these very complex programs.
Business owners that do know about these programs often stray away from them because they seem too complicated to manage. Once again, RetroTax provides the fix to that dilemma. Here then, are five things you didn’t know about wage-based tax credits, but you should:
1) These programs are not only available to mega large corporations: In fact, wage-based tax credits are available for all companies – small or large. You don’t have to be the big guy to benefit from these credits – you just have to employ people. They need to meet certain demographic or geographic criteria, but odds are that some percentage of your employees will qualify for something.
2) In reality, almost any business employing 10 or more people will be eligible for something: So, don’t leave money on the table, especially in today’s economy. There could be significant amounts of money available, that you are missing, simply because you didn’t know these programs existed for you to benefit from.
3) Tax credits are like money in the bank, as they can be carried forward for as long as 20 years: So, even if you are not tax liable for some reason in the year you earn these credits, that’s no problem, you can hold on to them and apply them in future years.
4) Several of these programs are retroactive: Meaning that just because you didn’t know about this previously, you actually still go back and reclaim credits that you were eligible for, from the past three years.
5) April 15th is the only day to focus on for tax credits: WRONG. As many as eleven categories that qualify you for these credits only apply to future hires. So, each and every day that you wait could cost you thousands of dollars.
There is absolutely no reason why any business shouldn’t at least inquire about these possibilities. All it takes is a simple conversation and a little research into the possibilities. So, what are you waiting for. Give me a call today!
Business owners that do know about these programs often stray away from them because they seem too complicated to manage. Once again, RetroTax provides the fix to that dilemma. Here then, are five things you didn’t know about wage-based tax credits, but you should:
1) These programs are not only available to mega large corporations: In fact, wage-based tax credits are available for all companies – small or large. You don’t have to be the big guy to benefit from these credits – you just have to employ people. They need to meet certain demographic or geographic criteria, but odds are that some percentage of your employees will qualify for something.
2) In reality, almost any business employing 10 or more people will be eligible for something: So, don’t leave money on the table, especially in today’s economy. There could be significant amounts of money available, that you are missing, simply because you didn’t know these programs existed for you to benefit from.
3) Tax credits are like money in the bank, as they can be carried forward for as long as 20 years: So, even if you are not tax liable for some reason in the year you earn these credits, that’s no problem, you can hold on to them and apply them in future years.
4) Several of these programs are retroactive: Meaning that just because you didn’t know about this previously, you actually still go back and reclaim credits that you were eligible for, from the past three years.
5) April 15th is the only day to focus on for tax credits: WRONG. As many as eleven categories that qualify you for these credits only apply to future hires. So, each and every day that you wait could cost you thousands of dollars.
There is absolutely no reason why any business shouldn’t at least inquire about these possibilities. All it takes is a simple conversation and a little research into the possibilities. So, what are you waiting for. Give me a call today!
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