Work Opportunity Tax Credit

About tax program

Recall that Johnny Depp and Vanessa Paradis lived together for about 14 years, until the femme fatale beauty Amber Heard became a bone of contention between the spouses. However, during their relationship with Paradis, the couple had two children: daughter Lily-Rose and son Jack. The girl grew up to be a public person, and the boy – prefers to remain in the shadow of his parents’ fame. The other day, the health failed the 16-year-old son of Johnny Depp and Vanessa Paradis. This became known after the Jack Depp 2023 actress did not come to the premiere of her latest film in France “A Knife In The Heart”, in which she played the leading role. The film’s director, Jan Gonzalez, attributed her absence to the fact that Paradis received “very bad news.” “Unfortunately, Vanessa Paradis was unable to join us tonight. She had to miss the premiere due to serious health problems with her son.”

The Work Opportunity Tax Credit (WOTC) is a tax incentive program that motivates employers to hire and retain employees from specific target groups, including social assistance recipients, veterans and qualified youth. For each eligible employee you hire, your business can qualify for a tax credit of up to $9,600 during the first two years of employment — which can quickly add up to significant savings.

However, gaps in screening, follow up, and documentation hold many employers back from maximizing their WOTC total and hurting their financial results. Carrazco can help you determine what your opportunity for tax credits and incentive credits may be now, and help you prepare for the future as your workforce grows.

Benefits you’ll love

Carrazco’s competitive strength resides in its people, methods, and tools. Our professional team is talented, credentialed and driven to succeed.

WOTC can reduce an employer’s federal income tax liability by as much as $9,600 per employee hired.

Improved cash flow

Credit carried forward up to 20 years

MAXIMUM TAX CREDIT AMOUNT

Which target group qualifies?

Qualified Long-term Unemployment Recipients, for new hires that begin to work for an employer on or after January 1, 2016 through December 31, 2019.
A member of a family that is a Qualified Food Stamp Recipient
A member of a family that is a Qualified Aid to Families with Dependent Children (AFDC) Recipient
Qualified Veterans
Qualified Ex-Felons, Pardoned, Paroled or Work Release Individuals
Vocational Rehabilitation Referrals
Qualified Summer Youths
Qualified Supplemental Security Income (SSI) Recipients
Qualified Individuals living within an Empowerment Zone, Renewal
Community, Enterprise Community or Rural Renewal Community
Long Term Family Assistance Recipient (TANF) – formerly known as Welfare to Work

Over 100 industry leading companies love us

As a rapidly growing Company, we were beginning to see the dramatic tax consequences of our growth and good fortune. In lieu of our growing tax liabilities we engaged Carrazco and our expectations were dramatically exceeded. Through their Innovative Tax Strategies, Carrazco secured hundreds of thousands of dollars in tax savings for our Company. Needless to say, RB Spencer is proud to have a business relationship with a Firm that delivers on their promises.”

BOB SPENCER

President - RB Spencer, Inc

Carrazco - Innovative Tax Solutions thoroughly analyzed current and future tax saving opportunities as well as prior year possibilities. By implementing Carrazco's Innovative Tax Strategies our company was able to realize over $200K in tax refunds and future offsets, increasing company cash flow and dramatically improving our bottom line.

RYAN ROGERS

Lakeview Petroleum

Although we had some understanding of the tax incentives available through the Yuba-Sutter Enterprise Zone, we had never thoroughly pursued it under the impression that our Company was too small to benefit. That changed when we met the folks at Carrazco who guided us to take full advantage of the benefits we were entitled. Carrazco's business philosophy of ”No Results, No Fee” made it so we had nothing to lose and everything to gain. The process was efficiently streamlined to make things simple...the results, on the other hand, were extraordinary!

RANDY FLETCHER

Fletcher Insurance Services, Inc.