Discuss the purpose of the work opportunity tax credit. Who receives the tax benefits from the credit?

Question:

Discuss the purpose of the work opportunity tax credit. Who receives the tax benefits from the credit? Give examples of the types of individuals who, if hired, give rise to the credit.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

South Western Federal Taxation 2015

ISBN: 9781305310810

38th Edition

Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young

See More Books

Question Posted: Dec 22, 2016 01:18 AM

See More Questions

Explain the purpose and calculation procedure of the work opportunity tax credit targeted to those who have received long-term family assistance.
King Corporation is expanding its business in 2013 and is planning to hire four additional employees at an annual labor cost of $30,000 each. What will be the tax consequences in the first year if...
Our Federal corporate tax laws provide numerous incentives intended to promote certain activities, industries and job creation. Some argue that these measures are ineffective while others say that...
Sienna has experienced a couple of profitable months and has over $20,600 in disposable income, however she is thinking that she should replace a few of her high-end blenders for the smoothie bar....
Describe the difference between a variable cost and a step-variable cost. When is it reasonable to treat step-variable costs as if they were variable costs?
Define note payable. What other liability is associated with a note payable? Explain.
Which types of economic damages are related to digital crimes?
The vapor leaving the top of a distillation column goes to a condenser in which either total or partial condensation takes place. If a total condenser is used, a portion of the condensate is returned...
3. 1. Find the volume of the figures below. 2. Answer: Answer: 8.5 ft 4 ft. 2.5 ft. 7 cm. 14 cm. 6 cm. 4. 12 in 4 in. Answer: 9 in. Juice Answer: 6.5 in. 3 in. 2.5 in. 5 in.. 3 in.
Zirconium, Zr, and hafnium, Hf, are metals. An isotope of zirconium has 40 protons and 91 nucleons. a. i. Write the isotopic symbol for this isotope of zirconium. ii. How many neutrons are present in...
Sonja is considering the purchase and renovation of an old building. She has heard about the tax credit for rehabilitation expenditures, but Sonja does not know the specific rules applicable to the...
Explain the alternatives a taxpayer has in claiming the deduction and credit for research and experimentation expenditures.
a. What is a bargain purchase and how are bargain purchases accounted for in an acquisition business transaction? b. How does a parent company account for the sale of a portion of an investment in a...
Given the difficulties in accurately predicting the future, is a business plan useful? Provide three reasons for writing one and three reasons for not preparing a plan. What is your conclusion and...
Show the result of inserting the values 1, 2, 3, 4, 5, and 6 (in that order) into the B+-tree of Figure 10.17. 101215 18 23 18 19 20 21 22 33 233031 33 45 47 48 48 50 52
The EI mass spectrum of lead(II) acetate shows four peak envelopes, each with an isotope pattern characteristic of Pb. The most intense peak in each envelope appears at m/z 326.0, 267.0, 224.0 and...
What does nonrecourse financing mean?
Why do lenders charge origination fees and loan discount fees?
Formulate a detailed mechanism for the Mannich reaction between 2-methylpropanal, formaldehyde, and methanamine shown on page 994. Page 994 Mannich Reaction CH,N(CH,), Cl- 1. H HCI, CH,CH,OH, A +...
Calculate the Lagrange polynomial P 2 (x) for the values (1.00) = 1.0000, (1.02) = 0.9888, (1.04) = 0.9784 of the gamma function [(24) in App. A3.1] and from it approximations of (1.01) and (1.03).
Howard's roadside vegetable stand (adjusted basis of $275,000) is destroyed by a tractor-trailer accident. He receives insurance proceeds of $240,000 ($300,000 fair market value less $60,000...
For each of the following involuntary conversions, indicate whether the property acquired qualifies as replacement property, the recognized gain, and the basis for the property acquired. a. A...
For each of the following involuntary conversions, indicate whether the property acquired qualifies as replacement property, the recognized gain, and the basis for the property acquired. a. A...
Suppose the market premium is 9%, market volatility is 30% and the risk-free rate is 3%. a. What is the equation of the SML? (1 mark) b. Suppose a security has a beta of 0.6. According to the CAPM,...
How did humanism influence the arts? What is the tree in Giotto's Lamentation panel a metaphor for in Christian ideology?
Consider a portfolio of two stocks. Data shown in the table below. Let x denote the weight on Stock A and 1-x denote the weight on Stock B. Correlation coefficient equals PAB. a. Write down a...

Discuss the purpose of the work opportunity tax credit. Who receives the tax benefits from the credit?

Question:

Step by Step Answer:

The work opportunity tax credit was enacted to encourage employers to hire individual...View the full answer

South Western Federal Taxation 2015

Students also viewed these Business Law questions