A social security exemption is part of this new act, as long as the new employee was previously unemployed. How long must someone have been unemployed in order to qualify for the exemption? At least two months out of work is a necessary requirement. The exemption is a cushy 6.2 percent, making companies eager to bring on new employees as well as hire staffing agencies and contingency firms to make sure the candidates they bring on are the right fit… and will stick around.
In addition to the social security tax exemption, an income tax credit is available. This is referred to as the ‘retention credit'. The newly hired employee must remain with the organization for at least a year or this is no longer applicable, and the fifty-two weeks must be consecutive. This tax credit will be 6.2 percent of the newly hired employee's wages up to a maximum amount of a thousand dollars. Replacement positions do not qualify. No firing and hiring here- new hires qualify only, with some exceptions to the rule.
The maximum amount a company can save is $6,622 per new hire- a pretty significant number. It is wise for a company to let their recruiters know that they are partial toward these benefits, so that the recruiter knows to have an eye out for the unemployed candidates currently on the market.
Does your small or medium-size business need a new phone system? Then you're in luck! Our new, updated comparison guide helps you cut through superfluous information and narrow down your list of solution providers. Get the latest data on phone system features, pricing, and performance metrics in an easy-to-use format. more
The holiday season is filled with frenzy and excitement for businesses and consumers alike. Consumers prepare gift lists, compare brands and prices, and begin shopping with a vigor that is not present most other times of the year. For many businesses, the holiday season accounts for a large profit bump at the end of each year, and companies strive to exceed their goals and keep customers happy during this rush late in the year. more
There are a lot of possible reasons you might want to switch to a new phone system. The old one might cost too much or be too troublesome to operate and maintain. It might not be flexible enough. It might not be reliable enough. Or it just might not have the kinds of features and capabilities that you need in today’s competitive business climate. more