Tax Credits

In an effort to offer our clients the highest level of service, One Source Payroll now offers tax credit services through Paradigm Partners, the national leader in securing financial benefits for businesses through state and government programs. Paradigm Partners will perform a cost free analysis in an effort to identify any programs for which your company may qualify.

Below is a list of tax credit services available.

WOTC (Work Opportunity Tax Credit)

The Work Opportunity Tax Credit (WOTC) is a federal tax credit that reduces the federal tax liability of private-for-profit employers. Employers that hire from any or all of these targeted groups can benefit from the credit; Qualified Temporary Assistance to needy Families Recipients (TANF), Qualified Veterans/Disabled Veterans, Unemployed Veterans, Qualified Ex-felons, Qualified Designated Community Residents (DCR) residing in an Empowerment Zone (EZ), Renewal Community (RC) or in a Rural Renewal County (RRC), Qualified Vocational Rehabilitation Agency Referrals, Disconnected Youth, Qualified Summer Youth (SY), Qualified Food Stamp Recipients (FS), Qualified Supplemental Security Income Recipients (SSI) and Qualified Long-Term Family Assistance Recipients (LTFAR).

R&D Tax Credit

The Research and Development (R&D) tax credit was created by Congress as part of the Economic Recovery Tax Act of 1981 to encourage American industry to invest in research and development activities. The purpose of the credit was to stimulate R&D activities among businesses through tax incentives