Warning: Undefined array key "default" in /var/www/html/wp-content/themes/enfold/config-templatebuilder/avia-template-builder/php/base-classes/class-popup-templates-responsive.php on line 146 Warning: Cannot modify header information - headers already sent by (output started at /var/www/html/wp-content/themes/enfold/config-templatebuilder/avia-template-builder/php/base-classes/class-popup-templates-responsive.php:146) in /var/www/html/wp-content/plugins/paid-memberships-pro/adminpages/reports/logins.php on line 444 Warning: session_start(): Session cannot be started after headers have already been sent in /var/www/html/wp-content/themes/enfold/config-templatebuilder/avia-shortcodes/masonry_entries/masonry_entries.php on line 102 Warning: session_start(): Session cannot be started after headers have already been sent in /var/www/html/wp-content/themes/enfold/config-templatebuilder/avia-shortcodes/portfolio/portfolio.php on line 53 Tax Credits For Employers Hiring Veterans - $5,600 to $9,600 - Military Connection
Categories: GI BillVeteran News

Tax Credits For Employers Hiring Veterans – $5,600 to $9,600

Attention Employers, Veterans make excellent employees.  They are disciplined and have a work ethic second to none.  Now Employers will gain tax credits up to $9,600 for Hiring Veterans in addition to it being the right thing to do.  You will also find disciplined and viable employees in all occupational areas with a work ethic second to none.  MilitaryConnection.com is the Go To Site and can connect you with candidates in all areas including but not limited to healthcare, high technology, security, law enforcement, transportation, banking, finance, sales, marketing, retail, trades and much more.  When the next tour is back home, it’s on MilitaryConnection.com.

Fact Sheet: Returning Heroes and Wounded Warrior Tax Credits

In August, President Obama called on Congress to enact tax credits that will help get veterans back to work. The Returning Heroes Tax Credit provides businesses that hire unemployed veterans with a maximum credit of $5,600 per veteran, and the Wounded Warriors Tax Credit offers businesses that hire veterans with service-connected disabilities with a maximum credit of $9,600 per veteran.

These tax credits were included in the American Jobs Act and were signed into law by President Obama on November 21, 2011.

Returning Heroes and Wounded Warrior Tax Credits

Under the Recovery Act, employers who hired certain unemployed veterans were eligible for a tax credit of up to 40 percent of the first $6,000 of wages, for a maximum credit of $2,400. This credit expired at the end of 2010.

On November 21, 2011, the President signed into law two new tax credits:

  • The Returning Heroes Tax Credit is a new hiring tax credit that will provide an incentive for businesses to hire unemployed veterans.
    • Short-term unemployed: A new credit of 40 percent of the first $6,000 of wages (up to $2,400) for employers who hire veterans who have been unemployed at least 4 weeks.
    • Long-term unemployed: A new credit of 40 percent of the first $14,000 of wages (up to $5,600) for employers who hire veterans who have been unemployed longer than 6 months.
  • The Wounded Warrior Tax Credit will double the existing tax credit for long-term unemployed veterans with service-connected disabilities.
    • Maintain the existing Work Opportunity Tax Credit for veterans with service-connected disabilities (currently the maximum is $4,800).
    • A new credit of 40 percent of the first $24,000 of wages (up to $9,600) for firms that hire veterans with service-connected disabilities who have been unemployed longer than 6 months.
Mitalis

Share
Published by
Mitalis
12 years ago

Recent Posts

Best World War II Books to Enjoy This Autumn – A Military Connection Top Ten List

Dive into World War II's finest literature, perfect for history buffs and those seeking captivating…

5 months ago

7 Important Moments in US Military History for Our Service Members

Explore 7 Pivotal Moments in US Military History: From the Birth of the Continental Army…

6 months ago

Military Influencers Use Social Media to Connect Across Experiences

Explore a diverse group of military influencers and veterans as they share their unique experiences,…

6 months ago

Agent Orange and New PACT Act Benefits for Vietnam Veterans

Understanding Agent Orange Effects, VA Benefits, and Veteran Support: A Comprehensive Guide for Vietnam War…

7 months ago

Best Books About World War 1 – A Military Connection Top Ten List

Explore the top ten must-read books about World War One, including memoirs, historical non-fiction, and…

7 months ago

Vietnam Veterans: Their Unique Experience and Its Impact on America

Discover the enduring legacy of Vietnam Veterans and the profound impact of the Vietnam War…

7 months ago

OTHER LINKS

VETERANS

Warning: Cannot modify header information - headers already sent by (output started at /var/www/html/wp-content/themes/enfold/config-templatebuilder/avia-template-builder/php/base-classes/class-popup-templates-responsive.php:146) in /var/www/html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/amp.php on line 100