Work Opportunity Tax Credit

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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.

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'Work Opportunity Tax Credit'

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    ... $160,000) You can't claim two of these tuition credits such as the American opportunity
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  • Student Tax Breaks

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    ... in 2009. The American Opportunity Tax Credit has replaced the Hope Credit
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    ... Even more people work for external companies and run ... profits at the child's
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  • 5 Smart Ways To Use Your Tax Return

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    ... 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

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    ... refundable credits: Hope Credit, American Opportunity Credit and the Lifetime Learning
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    The Small Business Jobs Act: Make It Work For You. ... on Penalties for Errors in Tax
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    ... for those profits to be put to work or distributed ... Reducing the tax on dividends
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