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How you can get tax breaks for hiring the handicapped
In 2005, the Senate passed a bill that was intended to help small businesses survive the minimum wage increase.Because the increase in the minimum wage will naturally hit small businesses harder than large businesses, the Senate included a number of different and potential tax breaks in the bill designed to ease the burden of paying workers more money.The tax breaks are aimed at restaurants and retailers.The bill also gives tax breaks to anyone who hires anyone who depends on food stamps or welfare. You can also receive tax benefits if you hire anyone from historical difficult to hire groups, like the handicapped, the disabled, or ex-convicts.This Senate measure ends up providing around 8 billion dollars in tax breaks and tax incentives for small businesses.If you happen to own a restaurant or a retail store, then you can receive accelerated tax benefits if you improve your facility. If you hire someone with disabilities or someone who is handicapped, then you qualify for a five year extension on the work opportunity tax credit.This work opportunity tax credit is the tax break that you get for hiring someone who is handicapped or disabled. The government is so eager for you to hire these generally underprivileged people that states such as California offer even more tax breaks than you would get from the federal government.In California, if you open up a business in what is considered a blight zone or an economically depressed zone, and you hire the disabled or the handicapped, then you get an even bigger tax break.You save money, but you are also helping the community recover and you are helping people who desperately need work but probably wouldn't be able to get it anyway. Here are some basic tax breaks that you can receive as an employer who hires someone who is disabled or is handicapped.
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