Hire a Veteran!

November
24

Written by: Jon McGraw

Are you a veteran looking for work or a loan to start a business?

The City of Kansas City, MO recently announced hiring preferences will be given to honorably discharged veterans who have served for a period of six months or longer, or who were disabled during their service in a qualifying period. For the purposes of this program, qualifying periods of war include, but are not limited to: World War II, Korean War, Vietnam War, both Iraq Wars and the War in Afghanistan. In addition, the City’s microloan fund has secured $200,000 in microloan funds to help returning veterans start a business.  http://www.kcmo.org/CKCMO/NewsArchives/110912A

If working for Kansas City or starting your own business isn’t quite the right fit, let a prospective employer know about a tax credit for hiring unemployed veterans that will lapse on Dec. 31, 2012.  According to Kiplingers, the credit amount varies with the period of time you have been unemployed. It’s 40% of the first $14,000 of pay ($24,000 if disabled) for veterans who have been without a job for six months or more in the year before they were hired, and 40% of the first $6,000 of wages for vets who’ve been out of work for at least four weeks but less than six months. To qualify for the credit, the veterans must start work before Jan. 1, 2013. Tax-exempt groups can take the credit as well. They claim it as an offset against their payroll tax bill.