Looking for a good candidate to fill that job opening? Here are the top 10 reasons to hire a military veteran. And here is one more: If you hire a qualified veteran who begins work before January 1, 2013, you may be eligible for a tax credit. The Work Opportunity Tax Credit (WOTC) is a provision in the VOW to Hire Heroes Act 2011 that allows employers to claim the WOTC for qualified veterans. Credits can range as high as $9,600 per qualified veteran for for-profit employers or up to $6,240 for qualified tax-exempt organizations. There are a number of factors that determine the credit amount, including the length of the veteran’s unemployment before hire, the number of hours the veteran works, and the veteran’s first-year wages. Learn more about potential tax credits for hiring veterans from the IRS.
Related prior posts:
— Employers’ best practice guide for helping veterans re-acclimate to the workplace
— Helping the military return to work