The Disabled Veterans National Foundation (DVNF), a non-profit organization that exists to help men and women who come home with emotional and physical wounds after serving our country, is reminding small business owners that they qualify for tax benefits when they hire a veteran.
The DVNF has been working with veterans to improve their job hunting, interviewing and job acquisition skills through a series of online webinars led by national career placement experts, by working with veterans one-on-one, and offering counsel to employers to help them be successful with veteran hires. The DVNF also wants to remind employers that under the Work Opportunity Tax Credit of 2010, small businesses can receive tax credits when they hire veterans. Business owners can receive a $4,800 credit for hiring a disabled veteran, a $2,400 credit for hiring a non-disabled veteran, and a $9,000 tax credit if they hire a veteran who participated long-term in the Temporary Assistance for Needy Families program.
"There are many great reasons for companies to hire veterans, not the least is that our American soldiers have already demonstrated allegiance and integrity to the principles and work ethics of this country," said Raegan Rivers, Chief Executive Officer of the DVNF. "But there are also smart financial reasons for businesses to hire veterans, such as the Work Opportunity Tax Credit. It is our goal to make sure employers are aware of the credit and that they receive any assistance they might need to hire a veteran and claim the credit."
Small businesses also can receive a tax deduction under the Architectural / Transportation Tax Deduction when they make a facility or public transportation vehicle more accessible to a disabled person. Additionally, the Disabled Access Credit allows small businesses to receive a tax credit when they incur expenses to provide access to the disabled. Under the Veterans Job Training Act, employers can receive funds in order to train long-term, unemployed veterans of any era.
According to the U.S. Bureau of Labor Stati fashion coats stics, the unemployment rate of all veterans in 2011 was 8.3 percent. Young male veterans between the ages of 18 and 24 who served during Operation Enduring Freedom and Operation Iraqi Freedom had an unemployment rate of 29.1 percent in 2011 – much higher than that of young male non-veterans (17.6 percent). Among Gulf War-era II veterans, the unemployment rate for women between 18 and 24 in 2011 was 12.4 percent.
About Disabled Veterans National Foundation: The Disabled Veterans National Foundation exists to change the lives of men and women who came home wounded or sick after defending our safety and our freedom. A nonprofit 501c3, DVNF was founded in the fall of 2007 by six women veterans to expand their scope of work within the veteran's community. The DVNF has provided $16.1 million in cash and requested items such as clothing, food, health & hygiene products to tens of thousands of under-served & disabled veterans nationwide. For more information, visit http://www.dvnf.org.
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