For Grant Recipients

today to start getting tax credits on your training!

Attention RI Grant Applicants ...
Combine Your Grant with a Tax Credit
for a 75% Savings on Training Costs!

If you are a recent HRIC or other RI state Grant Recipient ... Congratulations! You are obviously a quality conscious company which dedicates itself to employee training and deserves to be rewarded.

Most companies don't realize that you can combine grant awards with the RI Job Training Tax Credit (RIJTTC) program. The truth is: Yes, you can. Or, simply use the RIJTTC alone to obtain a larger benefit if your match is less than 50%.  Here are 2 examples:

Example #1: Grant + Tax Credit = 75% savings

Save 75% of your training costs
Use the grant and a tax credit

As a simple example, let's say your total original training costs are $60,000. If you received a $30,000 Workforce Training Grant, your net costs after the grant are $30,000.

In addition to the grant, you can apply for the RI Job Training Tax Credit and receive $15,000 in tax credits (half of your net training costs — yes, double dipping is allowed!). TracTax will manage and administer the entire process, from application to tax forms.

Example #2: Tax credit alone = Larger Total Benefit after taxes

Receive a Tax Credit up to $5,000 per Employee!
(The tax credit you may receive could far exceed your grant.)

READ THIS IF YOU ARE NOT ELIGIBLE FOR GRANT FUNDS

Even without a grant, you could receive a tax credit in the amount of $5,000 per employee through the RI Job Training Tax Credit program if you train your employees. If your company has, for example, 25 employees to be trained, you could receive a tax credit of $125,000 (25 employees x $5,000 each) — far outpacing the amount of a grant award!

This incentive alone is the reason companies such as Lavigne Manufacturing, CVS, Gregg's Restaurants, The Jan Companies and United Builders Supply, just to name a few, used TracTax to receive the benefits of the Rhode Island Job Training Tax Credit.

TracTax is the only system and service designed to handle all aspects of your RI Job Training Tax Credit. It is the only system of its kind in Rhode Island, and the fastest and easiest way to apply and file for this generous tax credit. Let TracTax take over and save you the headaches while generating thousands of dollars in unclaimed tax credits for your company. All you need to do is have the desire to save your company valuable time and money.

Our TracTax staff will perform the entire process:

  • From application to final tax return, and;
  • Guarantee your tax credit with 100% accuracy
  • Recover training dollars spent
  • Streamline your valuable time
  • Eliminate administrative headaches

Most companies don't take advantage of this tax credit because of the complexity of paperwork and additional workload involved.  Smart businesses invest in themselves by investing in their people.

The smartest maximize their employee training dollars. Let us meet with you to discuss this opportunity and your continued success. Call us at 401-658-0772
 

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