Tax Credits Questions And Answers
With Verified Solutions Already
Passed!!!
Investment Credit - ANSWER✔✔ Business credit based on amount invested in
qualified business properties
Work opportunity credit - ANSWER✔✔ business credit for hiring employees from
selected high unemployment groups =40% of first $6,000 of first-year wages for
each qualified employee (must have worked 400 hours), reduces deduction for
wages
Research activities credit - ANSWER✔✔ business credit to encourage technical
R&D, based on amount of credit and base amount
low-income housing credit - ANSWER✔✔ business credit claimed by owners of
low-income rental housing units, taken for 10 years after placed into service
disabled access credit - ANSWER✔✔ business credit for making expenditures to
make business accessible to disabled individuals, 50% of expenditures up to
$5,000 limit
welfare to work credit - ANSWER✔✔ combined with work opportunity credit
now
employer provided childcare credit - ANSWER✔✔ business credit for childcare
expenses paid by the employer, 25% of expenses to prepare property or operate,
10% for expenses paid to provide childcare resources and referrals
With Verified Solutions Already
Passed!!!
Investment Credit - ANSWER✔✔ Business credit based on amount invested in
qualified business properties
Work opportunity credit - ANSWER✔✔ business credit for hiring employees from
selected high unemployment groups =40% of first $6,000 of first-year wages for
each qualified employee (must have worked 400 hours), reduces deduction for
wages
Research activities credit - ANSWER✔✔ business credit to encourage technical
R&D, based on amount of credit and base amount
low-income housing credit - ANSWER✔✔ business credit claimed by owners of
low-income rental housing units, taken for 10 years after placed into service
disabled access credit - ANSWER✔✔ business credit for making expenditures to
make business accessible to disabled individuals, 50% of expenditures up to
$5,000 limit
welfare to work credit - ANSWER✔✔ combined with work opportunity credit
now
employer provided childcare credit - ANSWER✔✔ business credit for childcare
expenses paid by the employer, 25% of expenses to prepare property or operate,
10% for expenses paid to provide childcare resources and referrals
