News by MHCS
The Building Blocks - October 2023
Oct 05, 2023
The newest edition of The Building Blocks is here! In this edition, we share information on the employee retention credit (ERC) moratorium, the benefits of the work opportunity tax credit, and discuss...
Learn MoreIRS Pauses Employee Retention Credit Processing
Sep 25, 2023
On September 14, 2023, the IRS announced an immediate moratorium on the processing of new Employee Retention Credit (ERC) claims. The moratorium, which will run at least through December 31, 2023, is ...
Learn MoreHow Small Biz Can Win with the WOTC Program
Sep 12, 2023
The Work Opportunity Tax Credit (WOTC) encourages the employment of populations that need a helping hand by providing an incentive: You reduce your overall tax liability while offering employees valua...
Learn MoreIowa Provides Guidance on Pass-Through Entity Tax for 2022 Tax Year
Aug 22, 2023
The Iowa Department of Revenue has issued guidance on the rules and implementation of the new Iowa Pass-Through Entity Tax (PTET). This voluntary election allows passthrough entity owners potential ta...
Learn MoreReap the Benefits of the Work Opportunity Tax Credit
Aug 14, 2023
In December 2020, an extension to the Work Opportunity Tax Credit was signed in law. The WOTC helps match employers with qualifying candidates, such as veterans, and provides a tax incentive for conti...
Learn MoreCan You Take Advantage of the WOTC?
Jul 26, 2023
As explained by the IRS, the Work Opportunity Tax Credit (WOTC) is equal to 40% of up to $6,000 wages paid or incurred, with a maximum credit of $2,400, for an employee who: Is in their first year of...
Learn MoreThe Building Blocks - July 2023
Jul 25, 2023
The latest edition of The Building Blocks is here! In this edition, we focus on the Work Opportunity Tax Credit (WOTC) and how to utilize it for your construction or real estate company. Click here fo...
Learn MoreWork Opportunity Tax Credit Reauthorized Through 2025
Jul 20, 2023
Enacted in 1996, the Work Opportunity Tax Credit (WOTC) is a federal tax credit that eligible employers can claim if they hire eligible individuals who have consistently faced stringent barriers to em...
Learn MoreThe Production Line -July 2023
Jul 20, 2023
The latest edition of The Production Line is here! In this special Work Opportunity Tax Credit (WOTC) edition, we share information on the reauthorization of the credit through 2025, benefits of the c...
Learn More7 Year-Round Tax Strategies for Construction Business Success
Jul 17, 2023
To increase construction business success, implement these year-round tax strategies: Determine the proper accounting method: Confirm that your tax reporting method aligns with each contract's long-t...
Learn More