The ETP grants are performance-based and must be earned per the terms of the ETP Agreement. Payments are made at three points;
25% after an employee receives 8 hours of training
50% after employee completes training
25% after the employee meets retention requirements
Reimbursements are calculated on an hourly basis. For each employee training hour, employers can receive reimbursements of $15-$26 per training hour. Hourly rates vary based on business size and industry. Computer-based training is always paid at $8/hr.
ETP funds training to for-profit employers that are subject to the Unemployment Insurance Tax. Current priority industry for the Panel include, manufacturing, biotech/life science, IT services, media/entertainment, goods movement and transportation logistics, agriculture, healthcare, construction, and green technologies.
Taxable employers claim the WOTC as a general business credit on Form 3800 against their income tax. The WOTC is calculated using Form 5884.
The WOTC is based on the hours worked and wages paid to qualified employees. Credits can range from a few hundred dollars per employee up to almost $10,000 per qualified employee.
An employer must hire an employee who is certified as being a member of a targeted group. For tax-exempt organizations, the WOTC may only be claimed for qualified veterans.
The fee for a cost segregation study will range depending on the building size, building type, number of tenants, and other physical characteristics. Typically, fees can range from $5,000 to $15,000.
A cost segregation study will typically take 30-60 days to complete.
On Average, 15% to 35% of the overall building costs will be moved from 39 or 27.5-year property to 5, 7, or 15-year property.