Whitepapers, Guides & E-Books

Employees vs Contractors EBook US

Free Payroll eBooks for Small Business Owners and Startup Founders in the United States & Canada

Issue link: https://blog.wagepoint.com/i/559241

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Page 8 of 19

There are a number of benefits and advantages to hiring employees for your company, and we cover all the benefits, pros and cons that come with your decision to hire employees vs. contractors. Tax Benefits of Hiring Employees • Work Opportunity Tax Credit (WOTC) allows companies to hire certain specific groups, like veterans and claim the tax credit as a general business credit against their income tax. • The Americans with Disabilities Act (ACA) allows for tax credits when employers hire people with disabilities, provided all legal requirements are met. • The Hiring Incentives to Restore Employment (HIRE) Act gives tax breaks to em- ployers when they hire certain previously unemployed workers ("qualified em- ployees"). Deep Dive on Employees | Pg. 9 Deep Dive on Employees Tax Benefits, Pros & Cons of Hiring Employees

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