Work Opportunity Tax Credit

Filed Under »
Dictionary Says

Definition of 'Work Opportunity Tax Credit'

A separate, nonrefundable credit that is part of the general business credit. The work opportunity tax credit is designed to encourage employers to hire workers from certain minority groups with higher-than-average unemployment rates. This credit can be for as much as 40\% of the qualified wages you pay to workers in this category in the first year.
Investopedia Says

Investopedia explains 'Work Opportunity Tax Credit'

The work opportunity tax credit is figured on Form 5884, and is aggregated with all of the other business credits. There are several targeted groups of workers that will qualify their employers for this credit, including veterans, ex-felons, high-risk youth, food stamp recipients, SSI recipients and several other groups.

Video Definition


Search results for

'Work Opportunity Tax Credit'

  • Top Tax Refunds For Recent Grads

    http://www.investopedia.com/articles/tax/10/tax-refunds-for-grads.asp
    ... $160,000) You can't claim two of these tuition credits such as the American opportunity
    tax credit and the lifetime learning credit on the same tax return. ...
  • Saver's Tax Credit: A Retirement Savings Incentive

    http://www.investopedia.com/articles/retirement/04/031704.asp
    ... opportunity cost of funding one's retirement nest egg. If you think you may be eligible
    for this saver's credit, be sure to discuss the matter with your tax ...
  • Student Tax Breaks

    http://www.investopedia.com/articles/tax/10/student-tax-breaks.asp
    ... in 2009. The American Opportunity Tax Credit has replaced the Hope Credit
    as the primary credit for undergraduate students. It can ...
  • Safe Tax Planning For High-Net-Worth Filers

    http://www.investopedia.com/articles/taxes/09/affluent-tax-planning.asp
    ... Even more people work for external companies and run ... profits at the child's
    substantially lower tax bracket. ... and grandparents have a unique opportunity to use ...
  • 5 Smart Ways To Use Your Tax Return

    http://www.investopedia.com/articles/tax/08/maximize-refund.asp
    ... position even further, consider putting your tax refund check ... an IRA established,
    why not use this opportunity to start ... time will do much of the work for you. ...
  • Give Your Taxes Some Credit

    http://www.investopedia.com/articles/tax/08/tax-credit.asp
    ... refundable credits: Hope Credit, American Opportunity Credit and the Lifetime Learning
    Credit - The hope ... this subject, see Clearing Up Tax Confusion For ...
  • The Small Business Jobs Act: Make It Work For You

    http://www.investopedia.com/articles/economics/11/small-business-jobs-act.asp
    The Small Business Jobs Act: Make It Work For You. ... on Penalties for Errors in Tax
    Reporting That ... owners and investors with an unparalleled opportunity to invest ...
  • Clearing Up Tax Confusion For College Savings Accounts

    http://www.investopedia.com/articles/pf/07/college_savings.asp
    ... Wondering which opportunity makes the most sense for you ... Tuition Back in 1997, Congress
    enacted two tax credits to ... The Hope Credit applies only to the first two ...
  • Dividend Tax Rates: What Investors Need To Know

    http://www.investopedia.com/articles/06/JGTRRADividends.asp
    ... for those profits to be put to work or distributed ... Reducing the tax on dividends
    made it less expensive for ... as opposed to seeking any opportunity that enabled ...
  • Calculating The Mortgage Interest Tax Deduction

    http://www.investopedia.com/articles/mortgages-real-estate/11/calculate-the-mortgage-interest-math.asp
    ... Itemizing provides an opportunity to account for specific expenses, including mortgage
    interest ... the situation because the deduction is not a tax credit - you don ...

Related Articles

Bank Rates
Product Today Last Wk
$10K MMA 0.50% 0.51%
MMA 0.45% 0.46%
6 Month CD 0.46% 0.47%
1 Year CD 0.70% 0.75%
5 Year CD 1.46% 1.46%
1 Year Jumbo CD 0.66% 0.67%
Rate data provided by Bankrate
Product Today Last Wk
$30K HELOC 4.59% 4.60%
$30K Home Equity Loan 5.74% 5.77%
$50K Home Equity Loan 5.45% 5.50%
$50K HELOC 4.24% 4.24%
$100K Home Equity Loan 5.41% 5.46%
$100K HELOC 4.13% 4.13%
Rate data provided by Bankrate
Product Today Last Wk
30 Year Fixed 3.80% 3.80%
15 Year Fixed 3.09% 3.11%
1 Year ARM 3.54% 3.53%
30 Year Fixed Jumbo 4.38% 4.38%
5/1 ARM 2.65% 2.69%
3/1 ARM 2.69% 2.69%
Rate data provided by Bankrate
Product Today Last Wk
60 Month Used Car Loan 4.51% 4.51%
48 Month Used Car Loan 4.35% 4.35%
48 Month New Car Loan 3.24% 3.24%
36 Month Used Car Loan 4.34% 4.36%
36 Month New Car Loan 3.11% 3.13%
60 Month New Car Loan 3.35% 3.34%
Rate data provided by Bankrate
Partner Links