Episode 17
Big Benefits From Small Changes: Exploring WOTC and ERTCs with Kari Simcakowski
Grace talks with Kari Simcakowski, who is a Senior Business Consultant at Heartland Payroll, which is a human-centered technology company that specializes in providing business solutions to small businesses. Kari works on the Human Capital Management side, helping with payroll, hiring, and tax credits.
The Work Opportunity Tax Credit (WOTC) is an underutilized tax credit available to employers who hire individuals from certain demographics such as veterans or those receiving state assistance. Heartland makes it easy for clients by automatically applying for WOTC within 28 days of employment if the employee qualifies and can offer up to $15,000 in savings per quarter depending on how many employees qualify. Heartland typically works with small-to-medium-sized businesses ranging from 2 to 500 employees but are able to work outside of this range as well.
Tune in to hear why business owners should explore the Employee Retention Tax Credit (ERTC) to take advantage of potential tax savings. Businesses that have taken out PPP loans can still qualify for the ERTC if they have used their loan money on other items besides payroll wages. Listen to find out why business owners should consult with a CPA or partner with Heartland, which specializes in this area, for more information and assistance with filing returns or amendments related to this credit.
Episode Highlights
05:52 - Another piece of what Heartland does as well that I have partners that I work with is on the payment side, so credit card processing, and accepting payments really, and making that very easy and secure for them.
09:42 - It's all part of onboarding. We can actually help to identify people that qualify even just in their applications. So, we actually have an applicant tracking system, too, where we can help business owners put out their job postings, all managed in one centralized location.
17:30 - What Heartland will actually do is we will amend returns from a previous provider, whether your CPA did those returns or a different payroll provider. We're actually offering that as a service as well. So, when they move over to Heartland as a new client, we will actually do those amendments, and it's a very nominal fee.
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