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  State What’s More Important – Profitability or Positive Cash Flow?
  Don't Get Bitten by Cobra
  Required Retirement Distributions Optional 2009
  Business Tax Impact from the New American Recovery & Reinvestment Act of 2009
  State Governments Running Out of Mney & What This Means To You
  Insuring Against Retaliation by Disgruntled Employees
  Deterring and Detecting In-House Fraud
  How To Keep Your Funds Protected
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Newsletter

A Government Hand-out for Businesses: Wage Subsidies

If you have interest in hiring a $15 per hour employee while paying only $3 per hour, you will want to read this.

The Georgia Department of Human Services is giving businesses an 80% subsidy for hiring workers under a new program made possible by the American Recovery and Reinvestment Act of 2009.

The program runs through September 30, 2010 and applies to newly hired employees who work at least 30 hours per week at minimum wage or above. The maximum subsidy per employee is $26,000 and an employer cannot replace existing employees with new employees to qualify for it. In other words, if there was a layoff after January 1, 2010 or if an existing employee is fired to make room for an employee eligible for the program, no 80% subsidy will be paid.

The subsidy is made available only to employees who meet one of the following eligibility requirements:

  • Adults with dependent children and an annual income below $66,000
  • Adults receiving Temporary Assistance for Needy Families (TANF)
  • Parents participating in the Child Support Fatherhood program with TANF-eligible kids

Information about this special program can be obtained from the Georgia Department of Human Services (DHS) by calling 404-657-7807 or emailing TANF-Sub-Employers@dhr.state.ga.us.

Interested businesses need to enter into a Memorandum of Understanding with DHS in which the employer agrees to provide training and supervision, to submit an invoice of wage payments each pay period, and to inform DHS of terminated employees under the program. DHS then refers employees and reimburses 80% of wages within seven days of receiving the invoice. Decisions on hiring are made by the employer, not the government. The business does have to give DHS a right of audit of the payroll records and related documents.

For more information on this program, please contact:

Kimberly Skalski, CPA at 770-671-1533, ext. 211 kskalski@largeandgilbert.com
or
Will Floyd, CPA at 770-671-1533, ext. 246 wfloyd@largeandgilbert.com

Please contact the following for assistance:
Gary Fortier:  770-671-1533 ext 213 or gfortier@largeandgilbert.com
Bobby Lauman:  770-671-1533 ext 221 or blauman@largeandgilbert.com

 

 








 
Testimonials

"Our newsletter and email blasts are designed to enlighten our clients on the major opportunities and hazards that abound with running a business in an ever-changing environment. As we learn of new directions being mapped in Congress, we inform our clients about how pending developments could affect them.

One day it might be the FDIC rules that can either help protect or delude an investor into thinking their money is protected. Another day it might be an IRS audit strategic development that attacks certain kinds of losses. Or maybe it's about both the advantages and pitfalls of rebuilding in a post-hurricane zone. And then of course there is the ever-present estate and gift tax law, which presents unique challenges with planning the succession of a business.

We do our best to make our clients promptly aware of the regulatory mandates that are out there, the penalties for non-compliance, and the ways to minimize risk while exploiting available tax and financial benefits. And we try to communicate that in plain English without confusing technical jargon."

Joe Skalski