Having a great team of employees is critical to providing a superior customer experience. Payentry provides payroll services and HR solutions for the hospitality industry that help you recruit better and retain employees longer, so more time can be spent on serving your customers.
HR software & Solutions
for The Hospitality Industry
INDUSTRY ANSWERS
WORK OPPORTUNITY TAX CREDITS (WOTC)
Did you know as an employer you may be able to earn up to $9,600 in tax credits per eligible new hire?
What are Work Opportunity Tax Credits (WOTC)?
The PATH act of 2015 allowed employers to claim Work Opportunity Tax Credits for all targeted group employee categories. WOTC is a Federal tax credit available to employers who hire individuals from eligible target groups with significant barriers to employment. The program applies to any employee that fits into one of the categories and who is hired/begins work after December 31, 2014 and before January 1, 2020.
WOTC helps targeted workers move from economic dependency into self-sufficiency as they earn a steady income and become contributing taxpayers, while participating employers are able to reduce their income tax liability.
What are the target groups?
- Qualified recipients of Temporary Assistance to Needy Families (TANF)
- Qualified Long-Term Unemployment Recipients
- Qualified Food Stamp recipients ages 18 but not 40 on the hiring date
- Designated Community Resident – an individual who has attained ages 18 but not 40 on the hiring date who resides in an Empowerment Zone, or Rural Renewal County
- Long-term family assistance recipients
- Vocational rehabilitation referrals, including Ticket Holders with an individual work plan developed and implemented by an Employment Network
- Qualified summer youth ages 16 through 17 who reside in an Empowerment Zone
- Ex-felons hired no later than one year after conviction or release from prison
- Qualified veterans receiving Food Stamps or qualified veterans with a service connected disability
- Qualified recipients of Supplemental Security Income (SSI)
- The maximum tax credits range from $1,200 to $9,600, depending on the employee hired.
- For more information on how tax credits are calculated for each target group, visit the IRS website.
How do I apply?
Payentry’s Hire & Onboarding solution makes applying for tax credits simple:
- Send questionnaire to applicants and new hires to determine eligibility
- Submit the application through the system and receive the appropriate forms to file yourself for free, or elect to use our automated service
WORKERS' COMPENSATION
Pay-as-you-go
Payentry has partnered with a trusted workers’ compensation insurance provider to offer a pay-as-you-go payment plan, as opposed to traditional billing which requires significant up front costs.
- Pay premiums based on your actual payroll periods.
- Purchase a policy with little money down and pay your premium in smaller amounts spread over the course of the year.
- Improve cash flow – avoid large initial payments and reduce discrepancies during your annual audit.
Benefits to employers
- Eliminates/Reduces large premium payments
- Efficient online options – like online audit and premium wage reports – to help you save time
- Minimize audit adjustments
- Improved cash flow management
- No monthly billing or finance fees
- Integration with payroll through Payentry
WORKERS' COMPENSATION
THAT ACTUALLY BENEFITS YOU.
THAT ACTUALLY BENEFITS YOU.
The Hartford’s guide to worker’s comp shows business owners the how much can be saved with a pay-as-you-go model. See details about startup fees, payments schedule, and more!
HIRE & ONBOARDING
Industry-wide problems that are costing you time and money:
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Costly recruiting software
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Data entry duplication across systems
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Outdated, manual processes
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Limited information sharing about applicants
Our Solution
- A customizable hiring process with workflows, requisitions, email templates, and more.
- Seamless integration with payroll.
- Quickly create and post jobs to multiple top job boards and social media sites (including Indeed).
- Eliminate manual, repetitive data entry by uploading your company-specific forms and electronically send all onboarding paperwork to new hires.
- The most up-to-date software that allows you to view applicant resumes, share candidate information with colleagues, rate applicants, easily send offer/decline letters, and more.
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