If you need extra help and are not sure if hiring is the best thing for your corporation, according to the IRS, there are two new tax benefits for hiring individuals who were previously unemployed or working part time.
Payroll tax exemption!
Wow...employers will be exempt from paying the 6.2 percent on social security tax wages (qualifying employees) paid March 19,2010 through December 31, 2010.
Business Credit if you retained new hires!!
You may claim a business credit ($1,000 or 6.2% of wages whichever is less) for each employee (qualifying employee) that worked for 52 consecutive weeks.
For more information go to www.irs.gov search HIRE Act
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Connect with Vernice Maz, MBA
http://twitter.com/vernicemaz
http://www.facebook.com/vernice.maz
http://www.linkedin.com/in/vernicemaz
Payroll tax exemption!
Wow...employers will be exempt from paying the 6.2 percent on social security tax wages (qualifying employees) paid March 19,2010 through December 31, 2010.
Business Credit if you retained new hires!!
You may claim a business credit ($1,000 or 6.2% of wages whichever is less) for each employee (qualifying employee) that worked for 52 consecutive weeks.
For more information go to www.irs.gov search HIRE Act
--------------------------------------------------------------------------------------------------
Connect with Vernice Maz, MBA
http://twitter.com/vernicemaz
http://www.facebook.com/vernice.maz
http://www.linkedin.com/in/vernicemaz
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