Driving Increased Profits with Federal Hiring Incentives

By Brandon Edwards, President, The Tax Credit Company
As written for Hotel Business Review
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There are two ways to increase profits – raising revenue or lowering costs. Hospitality employers often miss opportunities to lower costs by missing valuable tax savings attributable to hiring incentives. The federal government provides businesses with tax credits for hiring members of disadvantaged groups. This often represents a larger share of a hotel’s staff than one would imagine. A member of a targeted group can be as simple as someone who lives in a designated area to one of the 40 million plus recipients of food stamps. Overall, a hospitality employer can expect between 15% and 25% of new hires to qualify for tax credits. Click here for a rundown of the major programs to look for in 2011.