2010 Hiring Incentives to Restore Employment Act
Last chance to take advantage of this Tax Incentive!! |
Greetings!
I wanted to make you aware of the 2010 Hiring Incentives to Restore Employment Act. The HIRE Act creates an immediate incentive for businesses to hire unemployed individuals by providing payroll tax forgiveness with an additional $1,000 credit for each qualified retained worker. The longer a business has a qualified new worker on its payroll, the greater the tax benefit. Small businesses also get an immediate tax benefit of nearly $1 billion from the extension of enhanced Code Sec. 179 expensing. Congress hopes that the HIRE Act's enhanced tax credit bonds will help pump over $4.5 billion into local economies. If you've hired a candidate after February 3, 2010, or plan to before January 1, 2011, and that hire was unemployed for 60 days or longer prior to their start date, make sure you're taking advantage of The HIRE Act!! If you'd like more information on the timeline and defining qualified employees/hires or if you'd like to include a hire this year to capture this incentive please contact me for more details! |