Small Town Business Blog

Hire a Returning Veteran, Get a Tax Break

Posted by Lee Cloer on Mar 7, 2012 2:22:00 PM

small business owners hire returning veteransNow, Western North Carolina small business owners have even more reason to hire veterans. It is a fact that these days with so many men and women looking for work most employers currently hold the advantage. They have the ability to pick and choose who fills their open positions from a very talented group of job seekers.

With more people looking for work than available jobs, employers would benefit in taking advantage of a highly trained and disciplined work force transitioning to civilian life from military service. With new tax incentives small business owners should considering hiring  returning service members.

On November 21, 2011, Congress approved and the President signed into law two new tax credits, the Returning Heroes Tax Credit and the Wounded Warrior Tax Credit.

Returning Heroes Tax Credit

The Returning Heroes Tax Credit is an incentive for businesses to hire unemployed veterans. For those veterans who have been unemployed at least 4 weeks, short-term unemployed, an employer can receive a maximum credit of $2,400 for employing them. While those veterans who have been unemployed for longer than 6 months, or Long-term unemployed, will earn a business up to a $5,600 tax credit.

Wounded Warrior Tax Credit

For those unemployed veterans with service-connected disabilities The Wounded Warrior Tax Credit provides a credit up to a maximum of $4,800. Hiring a veteran who has a service related disability that has been unemployed for 6 months or more will earn an employer up to $9,600 tax credit.

Fact Sheet | How to apply for the credits

So veterans polish up those resumes, get your details and references on paper to help you when you fill out applications, and take advantage of programs that assist you with the transition from military to civilian work force. Get registered on websites that specialize in helping employers connect with veterans.

Online Resources for Veterans Seeking Jobs Employment Center – Find jobs with employers looking for military experience - VetJobs is available to assist ALL members of "The United States Military Family". – connects veterans of America’s armed forces with employers who value their experience and skills

, SiteDart Author

Topics: Small Business Tips, Veterans

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