AkkenCloud Clients Are Now Able to Leverage Lucrative Federal Hiring Credits with the integrated Work Opportunity Tax Credit service, powered by their new tax credit company, WOTC.com.
Nashua, NH – May 02, 2024
AkkenCloud, renowned for its commitment to redefining staffing simplicity and pioneering advanced automation and AI solutions for Staffing Industry, is pleased to unveil its latest offering: an integrated Work Opportunity Tax Credit (WOTC) service, powered by the esteemed tax credit company, WOTC.com.
The Work Opportunity Tax Credit (WOTC) is a federal hiring incentive program designed to reward employers for hiring individuals from specific target groups. Eligible employers can receive substantial credits ranging from $2,400 to $9,600 per qualified hire.
Through this innovative service, AkkenCloud clients gain access to streamlined WOTC screening processes and comprehensive management of documentation, filing, and certification. Leveraging cutting-edge technology, WOTC.com seamlessly integrates with State Workforce Agencies, ensuring enhanced compliance and expedited certification for clients tax credits.
Anthony Curlo, Chief Strategy Officer at WOTC.com, emphasizes the significant financial benefits of WOTC utilization:” Many businesses are unaware of the considerable advantages offered by the Work Opportunity Tax Credit. With approximately 30% of new hires qualifying for these incentives, the potential for substantial savings is immense, particularly in industries characterized by high turnover rates.”
Giridhar Akkineni, CEO of AkkenCloud, expresses enthusiasm about the partnership: “We are delighted to collaborate with WOTC.com in providing our clients with an optimized tax credit service that enhances their financial viability. By leveraging WOTC.com’s expertise and technology, we empower businesses to maximize their profitability without adding to their administrative burden.”
Unlike traditional tax credit programs, accessing WOTC credits is primarily managed through a company’s HR department. Timely application within 28 days of an employee’s start date and subsequent certification are crucial steps in securing these benefits. Upon certification, taxable employers can claim WOTC as a general business credit against their income taxes, while qualified tax-exempt employers can offset payroll taxes.
By enrolling in WOTC services powered by WOTC.com, AkkenCloud clients can capitalize on these often-overlooked incentives, enhancing their bottom line with minimal additional effort. Furthermore, clients incur no upfront financial obligations, thanks to WOTC.com’s success-based fee structure.
Anthony Curlo, Chief Strategy Officer at WOTC.com, emphasizes the significant financial benefits of WOTC utilization: “Many businesses are unaware of the considerable advantages offered by the Work Opportunity Tax Credit. With approximately 30% of new hires qualifying for these incentives, the potential for substantial savings is immense, particularly in industries characterized by high turnover rates.”
Giridhar Akkineni, CEO of AkkenCloud, expresses enthusiasm about the partnership: “We are delighted to collaborate with WOTC.com in providing our clients with an optimized tax credit service that enhances their financial viability. By leveraging WOTC.com’s expertise and technology, we empower businesses to maximize their profitability without adding to their administrative burden.”
About AkkenCloud
AkkenCloud leads the industry with its unparalleled front-office, middle-office, and back-office staffing software solutions. AkkenCloud’s innovative platform, complemented by AkkuPay, a specialized payroll software designed for the staffing and recruiting industry, empowers businesses to enhance efficiency, streamline operations, and drive revenue growth.
ABOUT WOTC.com:
WOTC.com is a Financial Services consulting firm that helps businesses maximize government incentives and tax credits to increase their profitability. Leveraging their leadership’s 100 years of combined credit expertise and their state-of-the-art custom technology, WOTC.com has captured over $1 billion in government incentives for clients, with $0 returned to the IRS. WOTC.com team of credit experts helps businesses with federal and state incentive credits like the Work Opportunity Tax Credit, Research and Development Tax Credit, and many others.
