In the next year, do you anticipate increasing staff, retaining the same size staff, or reducing staff?

Hiring Incentives have been a part of our country's infrastructure since the early 1940s. At that time most Hiring Incentives were focused on Veterans returning to work after periods of service. This continued to be the main focus for Hiring Incentives until the 197os and 1980s when the focus was expanded to include Ex Felons, and Welfare Recipients.

There was a dramatic shift and expansion to Hiring Incentives in the late 1990s throughout the 2000s which opened the door for Job Creation as the focus for Hiring Incentives. As a part of this change the Work Opportunity Tax Credit (WOTC) was created in 1996 and has been modified, extended and consolidated with existing Hiring Incentives repeatedly since.

The credit was scheduled to be eliminated in 2015, but the PATH Act signed in December 2015 reinstated the tax credit and extended it through December 31, 2019.

WOTC allows employers to claim a credit against their federal income tax liabilities for qualified employees. WOTC can also be used to offset AMT (Alternative Minimum Tax). Employers generally can earn a tax credit equal to 25% or 40% of a new employee's first-year wages, up to the maximum for the target group to which the employee belongs. Employers will earn 25% if the employee works at least 120 hours and 40% if the employee works at least 400 hours.

The average benefit per employee is $2,400 and can be as much as $9600. That means potentially 10 qualified employees could yield a federal income tax credit between $24K and $96K. Additionally, WOTC credits may be carried back one year and carried forward 20 years.

Simply put, the WOTC reduces an employer's cost of doing business and turns Hurman Resources into a profit center.

Historically the steps necessary to qualify for the WOTC have been time consuming and burdensome. GMG Savings has made substantial investments in a proprietary technology process that relieves the employer of 90% of this burden by automating most of the steps involved in prescreening and certifying candidates before hiring as well as streamlining the submission of required documentation to State and Federal agencies.

Our online Client portal allows for a simple interface that any size company can take advantage of to avoid the paperwork, tracking, and submission headache that come with managing the WOTC program on their own.

Please use this link to review additional information on the WOTC benefit: www.yourwotc.com

Have you increased staff, retained the same size staff, or reduced staff?

YourWotc.com, a Federal program created after WWII, grants you $2400-$9600 for each new hire and now also applies to retaining employees and there is a new employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19.

Test it now and see your potential tax credits No contract required, no software to buy and it does 90% of the work for you.

MetLife & U.S. Chamber of Commerce Small Business Index rose to 71.7 this quarter, up 0.4 points from 71.3 last quarter.

The number of small businesses who report good local economic health declined significantly (from 59% in Q4 2019 to 52% in Q1 2020). Small business optimism also waned in three indicators: overall business health, comfort with cash flow, and staff increases. In contrast, the outlook on the national economy improved to a record high 60%, resulting in a slightly higher index score.

The survey was taken between December 19, 2019 - January 31, 2020 and reflects sentiment at the time.

Business Brokers $ Consultants

Business Brokers $ Consultants

Thousands of job openings amid crisis!!!

 WOTC Is More Important Now Than Ever Before For Business Owners! 

                         YourWotc.com

Emergency Business Relief

Emergency Business Relief - Classified Ad

Quit trying to be liked

I frequently head to the local coffee shop to work, strategize, clear my head, and enjoy a nice beverage. My last trip provided a perfect lesson for one of my emails… I walked up to the line. A young woman was in front of me. She was clearly waiting to order but was standing a good 15 feet from the cashier for some reason. I didn’t want to be rude, so I didn’t say anything. She didn’t move. So I waited. And waited some more. Then a different woman walked toward the cashier from another part of the shop. She was about to skip the small line that formed a foul shot’s distance from the barista. The horror! Before making it to the cashier, she noticed our distant, 2-person line. My eyes must have flashed, “No cuts!” because she quickly rerouted to the back of our odd line. Finally the girl in front made the long, 5-yard journey to the counter. That was odd enough, but what happened next really caught my attention… After ordering, the second woman –the one who almost budged in line- came up to me and tapped my shoulder. “I’m really sorry,” she said with a sad and apologetic smile. “I really wasn’t trying to cut. I thought maybe you all had ordered.” I told her not to worry about it. She replied, “I just don’t want you to think I’m a rude person.” I had never seen this woman before in my life, and she cared whether or not I thought she was a rude person?!? As humans, our need to be liked and accepted by others is a tremendously deep-rooted desire. It’s part of our wiring as social beings. Sociology, psychology, and the like address these matters in great depth for a reason. Please step back for a second and reflect on this. So many financial advisors I talk to try to position their likeability as the main offering to their prospects. Listen, at the end of the day, clients don’t care.

You might be the most good-natured person in the industry, but clients want solutions to their particular problems above all else. Charm and good bedside manner are important, but they are not the be-all, end-all. Think of it this way: why politely hold the door for people at the hospital when you can carry them into the ER yourself? That will make all the difference. - Mark Ford