Tax credits help your company remain competitive in today’s challenging economy
Tax credit programs were developed by federal, state and local governments to drive job creation, job training, capital investment and new business development. The First Advantage Tax Credit Services division monitors over 2,000 tax credit and economic incentive programs throughout the United States, as well as economic incentive opportunities overseas.
With First Advantage, you’ll gain flexible and responsive tax credit programs that will reduce your operating costs and minimize your tax liability, resulting in unlocked bottom line savings for years to come.
Work Opportunity Tax Credit (WOTC) – Find out how First Advantage can turn your HR Department into a profit center with the federal Work Opportunity Tax Credit (WOTC) program, and how First Advantage can help you maximize your tax credits.
Location-based incentives – both federal and state tax credits are available for businesses that help meet the revitalization needs in distressed areas. Empowerment Zones and Enterprise Zones are two such programs that provide benefits to employers who build and or locate their business in these regions. Your business may qualify to earn tax credits as a result of employing individuals who reside and work within defined geographic areas without increasing workload or headcount. Find out what it may be worth to you.
Economic incentives - Each year governments award billions in tax incentives to spur economic growth. Economic incentives can minimize a company’s tax liability and offset the high capital costs associated with new, expanding or relocated business sites. The First Advantage Economic Incentives Practice offers economic incentives specialists who assist global clients with negotiation of economic incentives; location selection studies; economic impact analyses; and administration and compliance of the incentive awards.
Training grants – Incentives offered by various workforce enhancement initiatives can help you offset training expenses for both new and incumbent workers. Training programs for internal, external or on-the-job trainings offer cost savings of between $200 and $500 per employee, offsetting 25% to 50% of outside training provider costs and up to 100% of internal trainer costs.
Screening options built for your business needs.
First Advantage offers screening options for optimal tax credit revenue generation. Since these options can be integrated with your applicant tracking systems, you’ll also increase operational efficiencies.
First Advantage JobCredits® – Our JobCredits® screening process integrates with many applicant tracking systems, and ensures that all applicants are screened for tax credits. It provides consistency across decentralized hiring locations, including applications through your company’s web site.
Interactive Voice Response (IVR) – Available 24 hours a day, 7 days a week, our automated IVR system gives your hiring managers convenience and flexibility when calling our private, secure screening system. First Advantage is available when you need us.
Paper Questionnaire – The paper questionnaire screening process for the federal Work Opportunity Tax Credit requires completion of Form 8850 at the time of application, and submission of the form and all supporting documentation to First Advantage within 28 days of the new hire’s first day of work.
We can help. Contact First Advantage to schedule a free consultation today.