April 25, 2019
Alicia, Founder & CEO
“Year-over-Year growth for your Work Opportunity Tax Credit – that’s our focus at TRUST Consulting.
We’ll be adding money back to your company’s bottom line in 2019 with a strategy focusing on key parts of the new employee process as it relates to your WOTC number, with a deep dive into hiring, retention and a more efficient and seamless onboarding process.
You might ask – how are those three related to improving your WOTC number? All three are intricately related to your final WOTC number, factoring in to how high it can be.
With hiring, for example, TRUST wants to help you find potential hires that will increase your average WOTC certification number, with a special focus on veteran employment. The veteran tax credit can make a difference on your company’s bottom line. One veteran/location maxing out their hours and wages can add up to $9,600 per location. For a five-store operator – that’s close to $45,000 increase in a company’s total WOTC number.
Another factor – retention, which is the biggest challenge for the restaurant industry and key to calculating your WOTC number. We want to identify why employees are leaving your company and if there are measures in place that can improve that break-even day when an employees’ training costs and realized by their contributions. The longer WOTC certified employees stay with your company, the higher your WOTC number will be.
And at it’s simplest, gathering the WOTC information has to be easy and efficient for your hiring team. We understand your hiring team is busy, and should be on the restaurant floor supporting your new hires and customers. Submitting WOTC information should be easy.
In the upcoming month, with tax deadlines winding down for the majority of our clients, the TRUST team will be sending out a WOTC Analysis, which centers around improving that number for next yea; underutilized efficiencies in our process that contribute to an increase; and add-on services targeting improvement with the factors that determine the credit calculation.
We are looking forward to providing this “report card” of sorts over the next few weeks and excited about a dialog regarding if they fit within your organization.”
April 2019 TRUST Consulting Group Newsletter
3 Ways to Improve WOTC in 2020.
Here at TRUST, we’ve turned our efforts towards adding more money to your bottom line with your 2020 tax filing, and your WOTC refund.
Please click the links below for more information.
Manage your own Users.
TRUST is an approved WOTC provider for SNAG.
Snag has just recently announced that Trust Consulting Group is an approved and recommended WOTC partner. You can see the announcement here – Snagajob Tax Credit Vendors article
What Our Partner Say
“Trust Consulting Group has been instrumental in our hiring and onboarding processes. Their powerful online system is easy to use. We can hire, onboard, and verify information in one day, getting our new employees on the floor and helping our customers as quickly as possible.”
“I will say that the improvements you have made to your web site in the last few months are great and have made it much easier for us to stay on top of our on boarding. ”
“Have changed how we on board our employees for the better. They have the best customer service around. Love working with them and you will too.”
“Every concern and/or question we have had has been answered in a timely manner by your fabulous staff. Thank you for following up and providing us with additional updates your organization offers.”
There are two key issues in front of Congress in 2019 related to your WOTC credit.
- Congress is currently considering making the WOTC program part of the permanent tax bill. Currently, it is approved with the tax extenders bill each time it expires, which is set to happen at the end of 2019.
- Retroactively, Congress is considering approving the Designed Community Resident credit and Native American Credit. A new bill has been introduced that would provide a 2 year extension of this credit which ended on Dec 31, 2017 for an additional two years, ending on Dec 31, 2019. This is only a proposal and has not been ratified and we will need to wait until it is passed. But this is good news that it is moving forward. You can read the proposal here.