2011 Tax Changes for Businesses and Investors: Retained Workers Credit

Changes to the tax laws over the past few years will affect many of our clients.  To keep you informed, we have been summarizing some of these changes.  Today, we are covering the retained workers credit.

Claiming “Retained workers” can qualify a business for up to $1000 credit in 2011 – Employers may claim a “retention credit” for retaining qualifying new employees or certain formerly unemployed workers meeting specific requirements. However, the credit applies only for qualifying employees hired after Feb. 3, 2010, and before Jan. 1, 2011.

Please contact our office with any questions regarding tax preparation.

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