The TC Services USA group of companies is led by Rose Markowits COO, a tax and payroll executive, along with her husband Michael, whose collective passions have been to help companies get the tax credits they deserve. Together they have grown the company, which now encompasses a consortium of premium brands, specializing in federal and state tax credits for business owners. Later they were joined by Patrick Cooney CDO, one with the vision and unique skill to scale the company to national prominence.
We value our Associates.
We treat one another with respect. We recognize the dignity and contributions of each individual and the creativity that results from the diversity of individuals and ideas. We strive to communicate clear expectations to each other, as well as how each of us performs. We are committed to an environment of trust, teamwork, challenge and development. We endeavor to communicate with each other in frank, fearless and constructive ways.
We strive to deliver Customer Satisfaction.
We have valued customers, whether they are consumers, other businesses, our shareholders, or one another. We believe in respecting our customers, appreciating their requirements, understanding their expectations and satisfying them with distinction.
We are accountable for the Quality of our work.
We enthusiastically develop and provide superior products and services with distinction. We deliver excellence, while constantly seeking ways to improve our knowledge, skills and the way we perform our jobs both individually and collectively. Each of us is accountable for the quality of whatever we do.
We demonstrate Integrity in all we do.
We are personally accountable for the highest standards of integrity. We measure our actions not only by what is legal, but also by the highest standards of ethics that ensure fair and honorable actions. We are responsible, reliable and truthful.
We provide Leadership as a company and as individuals.
We are all leaders. We are dedicated to achieving excellence through the loyal efforts of talented and enthusiastic associates. Our continued success requires taking full advantage of the rich backgrounds and abilities of our associates and rewarding their achievements. We embrace change as an opportunity to fulfill our potential. We lead through competence, innovation, teamwork and an eagerness to excel.
We create an environment of Fun and Pride.
We provide a work environment that challenges each of us to excel in all we do. Yet we embrace the necessity for also achieving a high level of happiness and fun in all that we do. We are proud to be part of this organization.
Patrick Cooney, BDO
Michael Markowits, CEO
Rose Markowits, COO
Mike Yedwab, CCO
Frequently Asked Questions
WOTC.com will provide the appropriate tax reports, depending on the type of credit earned, for the appropriate tax year. In some instances, for prior years where the tax returns have already been filed, the client will need to amend the return. For open tax years or the current year, the client will recalculate the tax liability by reducing the wage deduction by the amount of credit, include the information provided by WOTC.com on their return, and file the return.
These credits can be carried back to the previous year, applied in the tax year the credit was generated, or carried forward for twenty years.
If the business entity is a sole proprietorship, S-Corp, LLC, LLP or Partnership, the credit passes to the owner, shareholder, member or partner in the same manner as losses are allocated. In a C-Corp, the credits are used by the corporation. They offset federal income taxes and can be carried back to the prior year, or carried forward for twenty years.
Yes. Businesses lose the deduction for wages in the amount of the credit, but are trading out a deduction for a credit that is much larger. For example, if an employee makes $4,000, which generates a $1,600 credit, the employer takes a $2,400 wage deduction along with the $1,600 credit.
The credit is much more valuable than the deduction. Our fee is also deductible.
No problem. The WOTC will offset the AMT, and the EZ and RC credits will offset 25% of the AMT. If you are in a Net Operating Loss (NOL) and not paying taxes, the credit may be carried forward for twenty years.
These programs were established by the federal and state agencies so that companies to take full advantage of rewards for hiring from the targeted groups. The government was careful to design this program in a manner that does not discriminate based on any EEO classifications. That is why so many companies today are realizing millions of dollars in tax credits. The forms are also designed as a pre-screen and, therefore, can be used in assessing which job applicant to hire. Answering the questions is strictly voluntary.
If you are not completing an 8850 with each new hire, you are not processing for WOTC tax credits. This is more of an HR function, not an accounting function. It is hard for CPA’s to have all new hires complete IRS Form 8850 within twenty-eight days of their start date, and submit it with back-up documentation that is often required.
Some of our clients used to conduct this process in-house until they realized that they could achieve a more cost-effective approach by outsourcing these services. They earn a greater return while being able to redeploy their staff, and improve the amount of credits earned.
By using our technology to pre-screen and process, paperwork becomes minimal, as HR must only submit paperwork for pre-qualified new hires. We also take on the burden of processing, tracking regulations, and identifying and calculating the credits. This is why WOTC.com was formed and has been so successful in achieving the maximum tax credit dollars for our clients.
According to the IRS, the “common law employer” is entitled to the tax credit. If the client does the hiring, firing, determines the pay and manages the day-to-day duties of the employee, they are the common law employer. Note: We do not get involved in this type of decision-making by the client. We simply arm them with information they need in order to discuss this matter with their CPA – there is documentation that can be sent to the client for additional information.