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Veritas Insurance Services & Risk Management Live Stream - YouTube
Channel: Veritas Insurance Services & Risk Management
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Hey guys Andrew Darlington with Veritas Risk Management & Insurance Services here again today talking about聽聽
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the WOTC. Today we are going to talk about what money is available because there's聽聽
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a lot of a lot of money available to employers聽
that can take advantage of that watsi credit聽聽
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and i think the last number i heard is over聽
uh a billion dollars or something that was聽聽
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given out in watson credit i've got that聽
somewhere else so i can show that to you but聽聽
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um for today i'm going to show you what that is so聽
here let me share my screen here this is a new toy聽聽
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i've got so let's see what we've got here i've got聽
this button here there we go okay so this should聽聽
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be showing up on my screen here in just one second聽
sweet okay so the how the watsy credit works聽聽
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um the watsi credit you get uh is the you have a聽
targeted group of individuals that you're going聽聽
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to be hired it's based on the wages higher paid to聽
that new hire and then the amount of hours worked聽聽
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okay so the maximum credits you get or after聽
they've worked 40 40 400 hours so basically 10聽聽
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weeks at full time you get max credit up to that聽
point in time you only get a portion of it so聽聽
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if we scroll down here and we look here we've got聽
if they work at least 120 hours so three weeks聽聽
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you get them for three weeks you can start to get聽
the credit you get 25 percent of their first your聽聽
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wages about this for different ones most of them聽
about six thousand dollars the first year wages聽聽
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and then after they worked um at least 400 hours聽
you get 40 percent of that so once they work 10聽聽
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weeks for you then you get 40 of the wages you聽
paid 40 of the wages you pay that's a lot of money聽聽
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so even if these folks don't work out you're still聽
getting tax credits to hire them because that's聽聽
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what this is about it's about making sure that you聽
hire folks that are historically the most needy聽聽
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okay so here's what we've got here okay so聽
number one you have a veteran target group聽聽
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and then you have all the other target groups聽
the cool thing about the veteran target groups聽聽
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is they stack up okay so if you've got a veteran聽
okay and they're receiving food stamp benefits聽聽
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you can get up to twenty four hundred dollars in聽
first year benefits if they work at least four聽聽
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hundred hours if they work between 120 and 4 400聽
you can get 1500 in tax credits okay if they have聽聽
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been hired one year after leaving service you can聽
get to 4 800 in credit if they've been unemployed聽聽
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for the last six months for at least six months聽
in the last in the last in the last year is the聽聽
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the definition there up to 600 okay these are聽
worth people going after they served our country聽聽
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let's try to get those folks employed and聽
through watsi you can get up to 40 of their聽聽
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first year wages back to you in tax credits聽
that's amazing okay if they're unemployed聽聽
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for at least four weeks up to twenty four hundred聽
dollars there and then at least six months聽聽
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five thousand six hundred dollars so these things聽
can add up a lot if you're targeting veterans聽聽
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the tennessee wants to help you the folks here聽
in johnson city kingsport greenville irwin聽聽
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um basically you know uh yeah you're in a mountain聽
city area they want to help you they've got聽聽
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folks that are they've got folks that want聽
jobs that are veterans and they'll connect聽聽
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you all you do all you need to sign up and they'll聽
start helping connect you to these folks because聽聽
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they want to see these veterans get employed聽
you want to see this veterans get employed聽聽
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and it's a tax benefit for you okay so if聽
they're not veterans there's still other things聽聽
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so you have the short-term ta nfa recipient聽
that's tanf recipient sorry those are folks that聽聽
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are getting some type of subsidy for short term聽
and then you have long term look at this you can聽聽
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get to nine thousand dollars over two years for聽
folks that are long-term subsidy recipients that's聽聽
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huge okay food stamps up to 2 400 you'll see the聽
rest of them are pretty much the same designated聽聽
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community residents 2 400 bucks vocational rehab 2聽
400 bucks ex-felons 2400 bucks ssi recipient 2 400聽聽
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bucks the summer youth employee don't get as much聽
as twelve hundred dollars and then the long-term聽聽
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unemployed up to twenty four hundred dollars聽
these do not stack up in the other targeted聽聽
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groups so if they're a long-term unemployed and聽
ex-felon you don't get to double dip on that you聽聽
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get one or the other for that person the good news聽
though is sometimes even if they've been employed聽聽
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prior to coming to you you can get the credit okay聽
so if they've been employed for someone and they聽聽
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didn't stay there that long and then you hire them聽
from that but they were unemployed there's still a聽聽
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possibility you could get those benefits so that's聽
another huge big deal what we're going to do again聽聽
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we'll try to do a little bit each day to kind聽
of give you chunks but we're going to talk about聽聽
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going forward the what each one of these means聽
how they would qualify and that type of thing聽聽
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and then we'll also get into what you can do聽
there's some automated options for getting聽聽
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these credits there's also some stuff that you can聽
just do go on your website that type of thing and聽聽
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be able to apply for these it's not difficult if聽
you pre-screen your employees so if you pre-screen聽聽
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them with asking the questions that would know聽
this then you'll know which ones you need to apply聽聽
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for and the paperwork is not that much especially聽
when you're getting 2 400 bucks 5600 9600聽聽
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there's a lot of money that you don't want聽
to leave on the table and you're hiring folks聽聽
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so that's it for today um send me a text send聽
us 423-292-4142 call our office um shoot us a聽聽
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facebook message um or whatever message you want聽
to and we'll get back with you we got a lot of聽聽
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resources um i do want to mention there's going to聽
be the um the local folks here the the tennessee聽聽
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um uh what you call it got the book yesterday聽
the job center over on wesley street in johnson聽聽
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city there was again one in key sport they're聽
having a job fair so if you're an employer聽聽
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and are interested in how you can use the american聽
job center here in johnson city kingsport whatever聽聽
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to help you find employers let me know聽
they really want to help you get signed up聽聽
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they can help you and you can be a part of聽
those job fairs a lot of these job fairs聽聽
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that they're doing are little to no cost they're聽
not charging five six hundred dollars for booth聽聽
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it's either like 50 bucks or free because聽
they're trying to get people employed聽聽
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so if you have questions about that let me know聽
i'll post some information about that on facebook聽聽
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and we'll go from there so guys let me see if i聽
can change this over nope i didn't change it over聽聽
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this is a new toy i've got so let's see if i can聽
there we go see if i can make good so if there's聽聽
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anything else you need to let us know stay in聽
touch we'll get we're going to drip out this聽聽
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information small bite-sized pieces so that way聽
you can eat this elephant but it is going to take聽聽
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a while to eat the elephant but if you want to go聽
faster contact us we'll get you the information聽聽
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you need to help you be able to take advantage聽
of these tax credits and the big one right now聽聽
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that i'm talking to everybody about is the聽
long-term unemployed with the coveted relief聽聽
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packages that have been out there's a lot a聽
lot a lot of folks that are going to be those聽聽
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long-term unemployed and as you as an employer can聽
capitalize on that and take advantage of that 2400聽聽
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tax credit for each of those people you hire the聽
benefits are not going to be going out this friday聽聽
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they've gone out they went out last friday that's聽
the last check for the coveted relief you're going聽聽
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to see a lot of influx of people needing jobs and聽
this is an opportunity to help those folks that聽聽
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need the jobs but also be able to take advantage聽
of the watsi credit to help offset that and again聽聽
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it doesn't matter they don't if once they work聽
120 hours three weeks you start to get some聽聽
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credit once they've worked 10 weeks you get the聽
full credit um well you get full the 40 at least聽聽
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that of what you paid them and then if they leave聽
after that i mean he's at least still getting the聽聽
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credit so you can hire more folks and again get聽
those watsy credits coming in thanks again call聽聽
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us if you need any help with business insurance聽
home auto life insurance we're happy to help or聽聽
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but definitely call us if you need help with the聽
watsy credits we'll talk to you later guys bye
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