Uncle Sam wants to reward you for hiring from certain targeted groups of individuals. These are people who are or who have recently been on public assistance. If you hire someone who fits the profile, you are entitled to earn tax credits based on how much they earn while employed by you.

How does it work?
What can I expect in tax credits?
How much does it cost?
Do I qualify?
How do I get started?



How does it work?

There are two ways to screen your new hires. The Internet Interview Program or the Manual Method.

Using the Internet Interview Program, each new hire is asked a series of questions on or before hire date. If they are not eligible, the interview takes less than a minute to complete. For those that are eligible, the interview can take up to 5 minutes to complete, depending on the program(s) the person is eligible for.

Once the person is deemed “pre-certified”, an email is sent to CFO Resources and the client indicating that the person interviewed needs to complete and sign a Pre-Certification form 8850 and mail it to CFO Resources. The Internet Interview Program cuts down on the required paperwork by 90%.

Using the Manual Method, on an ongoing basis, you simply include two new forms in your new hire packages (form 8850 and form 9600). These forms are sent to CFO Resources - Tax Credits Division ("CFO") in Hillsborough, NJ for processing.
CFO will research all programs available (WOTC, W2W, EZ/EC, State Programs) and, if an employee is eligible, file for certification from the appropriate state agency.


At the end of each quarter, CFO will calculate credits you can deduct from your Federal and State Tax deposits.
At the end of the year, CFO will send you all the reports and forms you need to complete the appropriate schedules on your income tax return.
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What can I expect in tax credits?

Without doing a thing differently, you can expect that approximately 10% of the people you hire next year will be eligible for a minimum of $1500 in tax credits.
To approximate the amount of credits you can expect, take the number of people you plan to hire next year and multiply that number by $150. That's a rough estimate based on our company averages.

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How much does it cost?

CFO offers two programs. A FULL-SERVICE PROGRAM where CFO does all the work for you. Our fees are a percentage of the credits we certify. Nothing is billed until we're successful and deliver credits to you. If there are no credits, there is no billing.

The other program is our SELF-SERVICE PROGRAM where for a one-time fee and 1% of credits ongoing (for support and service of the account), we'll set up the program at your location and you can do all the work yourself.

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Do I qualify?

If you're profitable and paying taxes or plan to be profitable and pay taxes within the next 20 years, you qualify. Credits are carried forward, for tax purposes, 20 years. All types of corporations can take advantage of this - C-Corp, S-Corp, LLCs, LLPs - if not a C-Corp; the taxes reduce the owner's/partner's/member's personal income tax liability.

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How do I get started?

If you would like more information, simply to go our sign up page by clicking here and complete the form. Someone will get back with you within 24 hours.

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