New Hire Credit

[Super Mom]

Tired, brain is numb, general business credit for new hires (the 1,000) goes on f page 4 of 1065 "other credits"?

[Super Mom]

Nevermind, I see it's 5884-B form, I think it's time to go home!!!!!

[Maribeth]

Tired, brain is numb, general business credit for new hires (the 1,000) goes on f page 4 of 1065 "other credits"?

I do no believe that you can use the new hire credit for tax year 2010 -- unless your tax year started after sometime in March 2010. If so, I believe that the credit will flow from Form 3800.

Maribeth

[AJsTax]

Not until next year?

I do not know of any situation you can take the tax credit before next year. The employee has to be on the payroll for a full year and the credit is available for the year they qualify, so not one can be a year until now.

[Super Mom]

The employee is exactly at 1 year tomorrow

[Super Mom]

Oh, now I get it, they won't qualify until 2011 tax year! Thanks!!!!!!