Thursday, February 02, 2006
Hiring For A Tax Break
Our warehouse is next door to a welder who keeps hiring ex-felons as his employees. A lot of his employees are heavily tattooed and often only last a short time. I finally got curious and looked up why. I also wondered why he paid so low. Here is what I found:
B. Tax Credits
The Work Opportunity Tax Credit (WOTC) is a federal tax credit to reduce the federal tax liability of private for profit employers to be used as an incentive for employers to hire individuals from eight different targeted groups: TANF recipients (temporary assistance for need families) , veterans, ex-felons, high risk youth, summer youth, Food Stamp recipients, SSI recipients, and vocational rehabilitation referrals.
I guess if you are in business, there are groups of people who you can get a tax break if you hire them. California also give incentives for hiring people who are hard to find work for. So, the next time you cannot get a job, it could be someone is getting a tax incentive to hire a lowered paid person to do the job.
When your business grows to the point you need to hire someone to do work for you, you may want to look at this as an advantage. You may find a quality employee who needs work and is having a hard time finding it.
So, did you look at the Butterfly Marketing offer? It is going to make the author over $1,000,000 with just one product. When John Reese offered his similar $1000 internet marketing product he sold 1000 courses or $1,000,000 worth of material in less than 24 hours as I recall (48 hours at the most). John Reese’s product was a physical product of books and CDs.
The key to this type offer is the initial buildup. People anticipate a GREAT and WONDERFUL product and snap it up before it is sold out. Once you have it hyped you need others who get a commission for selling the product. You recruit big names and offer large commissions. Commissions on products are often 50%. I am not sure what the Butterfly Marketing commission is, but I am sure it is pretty decent based on the bonuses the commissioned sellers are offering.
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