
As an employer, you can change the future for hopeful job applicants who may not easily find work elsewhere. Job applicants with criminal backgrounds are often overlooked in the application process but they have proved to be hardworking, driven employees who will help your business operate and qualify you for the security benefits of a Fidelity Bonding Program or a Federal Bonding Program. These bonds protect you against losses in the event that the employee exhibits fraudulent or dishonest acts against you or your business.
When you invest in hiring qualifying employees, you can take advantage of the Work Opportunity Tax Credit (WOTC). This federal income tax credit is designed to help people gain on-the-job experience and achieve better employment outcomes. So, while you’re giving someone a chance to enter the workforce, you’re getting a tax credit back. As an employer, you can claim up to 40% of the first $6,000 in qualified first-year wages for a maximum credit of $2,400 per new hire.