Are you making investments
in your employees?

People are the most important element of any business, therefore the investments made in human capital—through compensation, training or benefits—must be made wisely. Companies that invest in their workforce may be able to offset these costs with tax incentives at the federal, state and local levels.

BDO’s Business Incentives and Tax Credits team helps companies identify, claim and support employment-related tax credits and incentives. We leverage technology-enabled solutions to help employers gather the information needed to calculate and claim credit opportunities while maintaining the privacy of employees. Example incentives include:

• Employee Retention Credit: helps employers whose businesses are negatively affected by COVID-19 to keep employees on their payroll.
• Work Opportunity Tax Credit (WOTC): rewards employers for hiring individuals from certain targeted groups who have faced significant barriers to employment.
• Job Creation Tax Credits: provide state income tax credits for net, new job creation in most states.
• Disaster Zone Credit: helps and encourages employers affected by qualified disasters to keep employees on their payroll.
• Empowerment Zone Credit: rewards companies that offer jobs in distressed areas.
• Negotiated Incentives: encourage new job creation in many states and may include cash grants or refunds of state withholding taxes over long-term agreements.
• Additional Incentives: includes payroll tax rebates, training grants, state job tax credits, meals and entertainment deductions and more.

Many of these opportunities can be claimed retroactively. To find out if you qualify, contact BDO today.