Efficient HC can help your company navigate and apply for various tax credits that are available for eligible employers.

WOTC (Worker Opportunity Tax Credit): The Work Opportunity Tax Credit (WOTC) is available to employers for hiring individuals from certain targeted groups who have faced barriers to employment.

ERC (Employee Retention Credit): The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021. Eligible employers can get immediate access to the credit by reducing employment tax deposits they are otherwise required to make.

R&D Tax Credit: The R&D tax credit is available to companies developing new or improved business components, including products, processes, computer software, techniques, formulas, or inventions, that result in new or improved functionality, performance, reliability, or quality. It’s available at the federal and state level, with over 30 states offering a credit to offset state tax liability.