Do you cringe every April? Wish your company could keep more of its hard-earned cash rather than lining the IRS’ pockets? We make it easy for you to become your company’s ‘Bottom Line Hero’, potentially saving hundreds of thousands of dollars annually through a little-known tax credit, WOTC. Your company is eligible for this money without drastically changing the way you run your business, spending time finding questionable loopholes, or… anything really. We do all the heavy lifting for you.
WOTC (Work Opportunity Tax Credit) is a $1 billion federal program allowing businesses to save $2,400 - $9,600 per employee, every year. And this isn’t a here-today-gone-tomorrow program… Sounds too good to be true? Well it’s not: Congress has voted to renew WOTC 11x since 1996. The only question is why more companies don’t take advantage? Simply put, they don’t know about it!
Let’s talk eligibility! Experience shows that for most employers, 10% to 20% of new hires would qualify for WOTC tax credits without employers needing to make any changes to their current recruitment process. Many of your past hires were already eligible for the WOTC program. These were military veterans, unemployed people and others who were experiencing economic distress for a variety of reasons. Want more good news? There’s no limit on the number of individuals an employer can hire to claim the tax credit.
Before our automated digital system, completing WOTC applications was a drag. Employers had to print form 8850 for every employee, have each team member fill out the lengthy documents by hand and then manually submit each one to the proper state coordinator. At HR Cloud, we think receiving the tax benefits you deserve should be hassle free.
Our software quickly collects the necessary information to apply for the tax credit through a specially designed, user-friendly digital survey. The embedded wizard then prepares form 8850 and other required forms, making the whole process incredibly simple. We’ve completely automated the flow, allowing your employees to submit and electronically sign the document as part of their onboarding process along with Federal I-9 and W-4 Forms. If only all tax prep was this easy!
When evaluating employees, analytics are key. HR Cloud’s performance evaluation system gives you access to deep performance and engagement analytics in an intuitive reporting dashboard. Which teams are most productive? Which employee is least prone to mistakes? Use our performance management tools to learn more about your company and the people you’ve hired.
Onboard is just the beginning. Our powerful suite of onboard software helps with every step of the employee cycle and integrates with all of your favorite third party tools. Recruitment, applicant tracking, performance management, payroll, background checks—HR Cloud® has got hiring covered. Explore the integrations here, and experience what your HR workflow should look like.