A New Tax Credit..... | Tax Tip of the Week | February 8, 2012 | No. 132

Hire A Vet!

A new tax credit for businesses that hire unemployed veterans is now in effect.  The credit amount varies with how long the veterans have been unemployed.  It is 40% of the first $14,000 of wages paid to a veteran ($24,000 in wages if the vet is disabled) who have been jobless for six months or more in the year before they were hired.  The credit is 40% of the first $6,000 of wages for vets who have been out of work at least four weeks but less than six months.The credit applies for eligible veterans starting work after November 21, 2011 and before January 1, 2013.Tax exempt groups can take the credit as an offset against payroll taxes.Think of those who have served our country the next time you need to hire someone!As always, give us a call if you have any questions.You can contact us in Dayton at 937-436-3133 and in Xenia at 937-372-3504.  Or visit our website.

Rick Prewitt - the guy behind TTWTax Tip of the Week Video Series:http://youtu.be/BKfzpFDLYsY...until next week.