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New tax credit for hiring vets

by on
in Small Business Tax,Small Business Tax Deduction Strategies

Congress has passed new legislation providing an expanded tax credit to employers that hire unemployed veterans. The maximum credit is $5,600 for hiring veterans who have been out of work at least six months; $9,600 for hiring unemployed vets with disabilities.

The new law also repeals a 3% withholding requirement on government payments to contractors.

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