The Work Opportunity Tax Credit (WOTC) offers a tax benefit for businesses that hire individuals, such as veterans, who are having trouble finding work. This temporary tax break is in effect through 2019, unless renewed by Congress. Employers can earn a tax credit up to $9,600 for certain military veteran employees. The exact tax benefit amount that a business can receive depends on several factors such as how long the new employee was unemployed, the new employee's salary, and the number of hours the new employee worked during the first year. For more information, read the article on Bankrate.com, and visit the IRS website.
For more guides and tips for employers looking to hire veterans and create veteran hiring programs, visit the Military.com Hiring Veterans page.
