alliantgroup, a leading tax consultancy and the nation’s premier provider of specialty tax services, has expanded a key service line that will help put unemployed and disabled veterans back to work. In addition to the firm’s longstanding efforts in helping businesses claim incentives such as the Research and Development (R&D) Tax Credit and the Section 179D deduction for energy-efficient buildings, alliantgroup has expanded its national footprint in the area of hiring credits and incentives.
For hiring unemployed and disabled veterans or members of historically disadvantaged groups, U.S. businesses can qualify for a number of valuable federal and state tax incentives. alliantgroup is expanding its hiring credits and incentives practice to assist these companies in identifying and properly making claims for these various incentives.
“For businesses that are doing the right thing, for those that are doing right by our veterans, our government offers substantial tax benefits in the form of incentives such as the Work Opportunity Tax Credit,” said Rizwan Virani, alliantgroup Senior Vice President. “I encourage any company that has hired veterans or members of historically marginalized groups to look at WOTC and other available incentive programs.”
Among the most valuable of these federal hiring incentives, the Work Opportunity Tax Credit is designed to benefit employers that hire individuals from target groups facing significant barriers to employment. The credit is available to U.S. businesses that hire unemployed or disabled veterans, the long-term unemployed, recipients of certain federal assistance programs and other designated groups. Depending upon the target group a new hire belongs to, an employer can reduce their federal income tax liability by up to $9,600 per each hired employee. Employers claim an estimated $1 billion each year from the WOTC, a program that has helped put Americans back to work while at the same time stimulating productivity and economic growth.
“Programs like the WOTC are of immense importance in getting our veterans back to work and in bringing them into our economy. Considering their benefits in terms of increasing employment and in creating a more productive economy, WOTC and other hiring incentive programs should be considered a win-win for employers and workers. I look forward to assisting companies in claiming these vital government incentives.”
alliantgroup is a management consulting company with a mission to strengthen American businesses through reinvestment in innovation and job growth. We educate businesses, the industry groups that serve them and the accounting firms that advise them on federal and state credits and incentives that are legislated by our government to keep the U.S. competitive in the global landscape. We are proud to have helped over 20,000 businesses claim nearly $13 billion in credits and incentives. alliantgroup is headquartered in Houston, Texas with additional offices located in Austin, Boston, Chicago, Indianapolis, New York, Irvine, Sacramento, Washington, D.C.; and Bristol and London in the U.K. For more information, visit alliantgroup and engage with us on LinkedIn, Facebook, Twitter, and YouTube.