BKHM Blog

TAX CREDIT FOR HIRING VETERANS

Posted by Sheridan Smith on Mon, Feb 04, 2013 @ 02:17 PM

Senate Bill Would Expand Tax Credit for Hiring Veterans

Senate Finance Committee chairman Max Baucus, D-Mont., and Sen. Jon Tester, D-Mont., have introduced legislation that would expand an existing tax credit for hiring veterans to encourage further hiring while making it easier for business claim.

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Topics: veterans, tax credit, bkhmcpa

TAX INCENTIVES FOR HIRING VETERANS

Posted by Sheridan Smith on Wed, Sep 19, 2012 @ 10:10 AM

Need to hire? Consider veterans

Veterans provide a valuable labor pool, full of highly trained, hard-working team players with strong leadership skills. There's also a tax incentive: The VOW to Hire Heroes Act of 2011 extended the Work Opportunity credit through 2012 for employers that hire qualified veterans. It also expanded the credit by:
  • Doubling the maximum credit — to $9,600 — for disabled veterans who've been unemployed for six months or more in the preceding year,
  • Adding a credit of up to $5,600 for hiring nondisabled veterans who've been unemployed for six months or more in the preceding year, and
  • Adding a credit of up to $2,400 for hiring nondisabled veterans who've been unemployed for four weeks or more, but less than six months, in the preceding year.
To be eligible for the credit, you must take certain actions before and shortly after you hire a qualified veteran. We can help you determine what you need to do.
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Topics: veterans, tax cuts, tax incentives