You could be missing out on thousands of dollars in hiring incentive tax breaks!
If you’re like most business owners, you want to take advantage of every tax break and incentive available to you. Hiring incentives are a great way to offset the cost of expanding your workforce, but they can be difficult to navigate. This week, Mike Lancey, President and CEO of Mackenzie Chase Management is here to share a few secrets for capturing hiring incentives that will help your business grow. By following these tips, you can make the most of government programs that have been designed to encourage businesses to create jobs. So if you’re looking to add to your staff, be sure to read on, and don’t forget to take advantage of these valuable resources!
Thousands of business owners miss out on millions of dollars in tax breaks every year, simply because they are not knowledgeable of the governmental programs that offer them. But don’t worry. This blog post is intended to be easy to understand, educational and informative. The amount that you can receive as a tax credit, and in some cases as a refund, are incredibly generous. The Work Opportunity Tax credit offers up to $9,600 / eligible employees. Empowerment Zone credits are worth up to $3000 / employee. And in some cases, like ERC, the refund amounts can reach even higher levels. However, there are specific actions that have to be taken in order to secure the hiring incentives. This is where Mackenzie Chase Management comes in.
So, how does it work?
McKenzie Chase Management is a company that specializes in hiring incentives and helping businesses get the most out of these government programs. We invite you to participate. And best of all, there’s no cost! That means zero deposit, zero monthly payments, and it’s not a lot of work on your end. We do all the work and you get all the credit. That’s the deal.
So what’s the catch? There’s a lot of money here. We’re talking up to $9,600 per employee. And in some cases, even up to $26,000 per employee. That’s a big amount of money, especially if you have a hundred employees, you can do the math. The Work Opportunity tax credit program was first issued in 1996. When it first started, 30 million certifications were given out in just one year. But why is it still going? Because the government benefits from these programs in a very profitable way. Over a 10-year time span, $202 billion has been saved, as calculated by a labor economist at Wharton School of Business.
Who is Mike Lancey?
Okay so great, there’s potentially thousands of dollars to be saved, but you may be asking yourself, “Why is this guy qualified to speak on hiring incentives? Who really is Michael Lancey? Well, I am an individual that has passed three fairly difficult exams that the IRS has set up to create enrolled agents. That makes me an IRS tax law specialist. I have saved clients over a hundred million dollars in hiring incentives, I have an MBA with honors in finance, and most importantly, I can guarantee that you can acquire these incentives through the participation that I mentioned at the beginning.
The Great Tech Barrier
Before we get into the secrets, let’s first talk about the technical issues involved with these kinds of incentive programs. When you Google “how to get to hiring incentives,” there is a little bit about the inputs and a little bit about the outputs, which is the money. But inside the works is sort of a black box. You can’t easily get information about it, and it’s hard to understand. Even if somebody told you exactly what to do, one mistake could cost you thousands. It still doesn’t make sense to a lot of us. What’s really inside the black box generally for the tax credit programs is a pre-screening step. For example, the 8850 form for the Work Opportunity Tax Credit program is a method of pre-screening. So there are a lot of technical issues, and without understanding how to do the technical part, you can’t get the credit.
The largest barrier however, the biggest barrier of all, the one that people can’t get through, is the human factor. The human factor is that brick wall that people cannot get through in order to capture the hiring incentives. People who are trying to get hiring incentives and fail, fail because they didn’t utilize the secrets I am about to share with you. So be careful. Don’t hit your head against the wall, pay close attention and read on to learn more about these well-kept secrets.
Secret #1: Dispel the myths
The first secret is to dispel the myths. Many people believe that only very large companies can secure a worthwhile quantity of incentives. They believe that only specific industries should pursue the credit. But Mackenzie Chase is a specialist in this and is here to tell you that these myths have been busted personally by us. Join us in dispelling the myths and realize that you can get the credit no matter your size or industry. Here’s a few actual cases of companies of different sizes that received the credit.
In one instance, one of my favorite little restaurants in the whole world located in Yakima, Washington was able to secure over $12,000 in hiring incentives in 2021. They’ve been enrolled in the program for several years, and in total they’ve received over $46,000 in incentives over a 12-year period! Small Businesses are able to get the credit! That means medium sized businesses can get the credit too. A research firm with 220 hires was able to secure $75,000 in federal income tax credits in one year. Do not worry about the size of your business or the industry. No matter the circumstances, we can get you those credits.
Secret #2: Money to be found
The second secret is that you literally have to recognize that there is such a thing as found money. Found money is the amount that you’ve been leaving on the table. Your business was created because of an opportunity. Is that correct? Without an opportunity, we do not have work. We do not have an economy if opportunity ceases to exist. Here’s an example of an opportunity: If you look at the Bureau of Labor Statistics you will discover shocking statistics related to unemployment. 108 million people out of 260 million working age adults, that’s 41% of the population, are not currently working. This is just one target group out of 13, too! This is an example that shows that you cannot help but hire people who are qualified for the work opportunity tax credit, and for the other tax credits as well.
Secret #3: Ask for help
The third secret is that action is required. A lot of us think that we can just ask our tax accountant, “Oh, I want to get that tax credit!” And he could just whip it up for you. But you have to take action while you’re hiring employees. There are strict deadlines. There are rules for claiming the credit. Participation is required for the hiring incentives and participation is required for all incentives. The government creates these to get us to do things. And if we don’t take action, then the extra boost is not available to us. And sometimes we need help in order to take action. Jack Wells, a brilliant business person and the chairman and CEO of General Electric from 1981 to 2001 said, “An organization’s ability to learn, and translate that learning into action rapidly is the ultimate competitive advantage.”
As you can tell, these hiring incentive secrets are quite simple and straightforward but very effective for your bottom line. It’s not magic. Simply, it is a level of discernment that will help you and your company make the best decision possible from now and into the future. Do yourself a favor: take a look at your hiring incentives through the lens of these 3 secrets to see what opportunities you’ve been missing out on.
McKenzie Chase Management is here to help!
If you hire less skilled entry level employees, hourly, or seasonal part-time workers, it is very likely that you’re going to qualify in a big way. But everyone should be participating. McKenzie Chase makes it as easy as possible. Healthcare, agriculture, employment agencies, retail business services of all kinds, even nonprofits that hire veterans can qualify. There’s no black box at McKenzie Chase. We utilize the MCM online system, and in 90 seconds, employees can answer five to eight questions that will determine their eligibility. That’s an easy button, right? If you have multiple divisions, multiple regions, multiple locations, we can set you up with a hub that allows all your employees to select their location and click go.
So now as promised, we are inviting you to participate. There’s no cost to try to get the credits. There’s zero deposit, zero monthly payments. McKenzie Chase literally does all the work and you get all the credit. So let’s connect on LinkedIn. You’re welcome to call our number too at (866) 547-8277.
We would love to give you the 50,000 foot view of the hiring incentive landscape and show you what you should be doing continually and what opportunities you can cherry pick in order to maximize your after tax profit. We’re not gonna bug you and bother you. We’re going to make it easy for you to take action.
There are some startup documents. The engagement letter and the 2848 form is what is required for most programs, and that’s what we have. If you’re gonna hire somebody today or tomorrow, we can have you set that up fast. And if you start before Christmas 2022, we will provide you with one hundred dollars in fee-free tax credits through the McKenzie Chase program. So let’s move forward. Let’s make this happen. Let’s do it!
Please choose your best day and time for a one-on-one conversation to discuss. Here’s our calendar: https://calendly.com/mc-mctr/mckenzie-chase-tax-credit-orientation.
You can also contact us at: Toll-Free: (866) 547-8277 or
Email: info@McKenzieChase.com
