Tax Credits for Hiring Veterans Survive 2013 Budget Cuts

Attention Veteran Business Owners:

Tax credits for employers who hire military veterans or people belonging to certain disadvantaged groups (for example, people receiving government assistance or living in distressed areas) have survived the anticipated small business budget cuts.

Although tax credits for hiring the disadvantaged expired in 2011 and those for hiring veterans expired at the end of 2012; both have been extended through 2013.

The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to employers for hiring individuals from certain target groups who have consistently faced significant barriers to employment.  WOTC helps targeted workers move from economic dependency into self-sufficiency as they earn a steady income and become contributing taxpayers, while participating employers are able to reduce their income tax liability.
The maximum tax credit ranges from $2,400 to $9,600, depending on the employee hired.

Several other items of interest to small business owners were extended in the 2013 budget including provisions for research and development, exemptions for charitable food donations and extended credit on stock and business investment depreciation.

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This Veterans Hire Veterans Initiative Public Service Announcement (PSA) was brought to you by Veteran Owned Business. Veteran Owned Business is in no way affiliated with the above organization(s). We do not in any way endorse the above business/organization or guarantee any offers made above.

VeteranOwnedBusiness.com and the Veteran Owned Business Directory are simply providing information we feel is of interest to veterans, active duty military, reservists, service disabled veterans, veteran owned businesses, service disabled veteran owned businesses, families of veterans, families of our armed forces and any other person or persons directly or indirectly involved with the United States military.

If your business is (or you know of another business) owned by a veteran (VOB), active duty military, reservist, service disabled  veteran (SDVOSB) or military spouse of the United States, Army, Air Force, Marines, Navy, Coast Guard or National Guard, please be sure to visit the VeteranOwnedBusiness.com sign up pageto get your free listing.

The objective of our FREE Veteran Owned Business Directory is to continue to offer a growing list of products and services that are unique in the fact that they are all owned by, sold by and/or serviced by past and present military members.

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