Medina Works Home - Tax Credits and Incentives

Search \| Privacy Policy

Homes

Homes > Employment & Training Issues & Resources > Employment & Training Administration, U.S. DOL

Tax Credits and Incentives

printer friendly

Work Opportunity Tax Credit (WOTC)
The WOTC is one tool in a diverse toolbox of flexible strategies designed to help people move from welfare to work and gain on-the-job experience. It joins other education and job training initiatives and targeted tax credits that help American workers prepare for good jobs; ease the transition from job to job; and create high performance workplaces. This federal tax credit encourages employers to hire eight targeted groups of job seekers by reducing employers' federal income tax liability by as much as $2,400 per qualified new worker.

Enterprise Zone Locator
The Address Locator allows you to find out if a business or residence is located within a Renewal Community, Empowerment Zone or Enterprise Community. This online tool can help verify if a particular location is eligible for the tax incentives offered in RC/EZ/EC areas.

Small Business Tax Credit: IRS Code Section 44, Disabled Access Credit
Small businesses may take an annual tax credit for making their businesses accessible to persons with disabilities. The credit is 50 percent of expenditures over $250, not to exceed $10,250, for a maximum benefit of $5,000. The credit amount is subtracted from the total tax liability. The tax credit does not apply to the costs of new construction, and a building being modified must have been placed in service before November 5, 1990.

The H-1B Technical Skills Training Grant Program
focuses on addressing the high skill technology shortages of American businesses. H-1B Skill grants are used for developing and operating high skill training programs for unemployed and employed American workers. These grants are financed by fees paid by employers who bring skilled foreign workers into the U.S. under H-1B nonimmigrant visas.

The Trade Act programs, Trade Adjustment Assistance (TAA) and Alternative Trade Adjustment Assistance (ATAA), assist individuals who have become unemployed as a result of increased imports from, or shifts in production to, foreign countries. The goal of the Trade Act programs is to help trade-affected workers return to suitable employment as quickly as possible. To facilitate this goal,TAA certified workers may access a menu of services that include income support, relocation allowances job search allowances, and a health coverage tax credit. TAA participants that require retraining in order to obtain suitable employment may receive occupational training.