WOTC Tax Savings Calculator
The Work Opportunity Tax Credit (WOTC) is a tax credit given to employers that give the extra effort to hire Americans facing employment challenges. With this WOTC calculator, NEEPAA can help you determine your potential savings.
To determine your business’ potential annualized savings, enter:
- Number of new employees you expect to hire
- Typically 15% of these employees will qualify for tax incentives
- Average tax credit per employee estimate is $1,500
To learn more about what employees may qualify under the Work Opportunity Tax Credit, or for other questions about available payroll tax credits, contact us and we’ll be happy to help.