HOUSTON – May 24, 2010 – As the White House launches initiatives designed to reignite the economy, G&A Partners, an integrated human resource and administrative services company, is offering its small business clients information and administrative assistance to help them take advantage of new federal stimulus programs.
“Two years ago, with the country poised for an economic state of emergency, small businesses were quick to retrench, choosing to ‘shelter-in-place’ by cutting costs and halting hiring,” said John Allen, Chief Operating Officer, G&A Partners. “Now, in an effort to accelerate the pace of job growth, Washington is launching initiatives to encourage employers to reemerge and reengage in the hiring process.”
As part of the Federal Jobs Bill, President Obama recently signed into law the Hiring Incentives to Restore Employment (HIRE) Act. The new legislation, which became effective as soon as it was enacted on March 18, 2010, offers employers tax incentives for hiring previously unemployed workers, as well as an additional tax credit if those new hires stay employed with the company for 52 consecutive weeks. The White House has also proposed a Small Business Jobs and Wages Tax Cut which would allow businesses to receive a $5,000 tax credit for every net new employee they hire.
“Small business creates the majority of new jobs each year, so it is reasonable that the federal government design employment incentives with them in mind,” said Allen. “These incentives are hardly so enticing that employers should hire before they are ready, but for companies intending to grow, now may be an opportune time to post an open position.”
Allen acknowledges, however, that with a proliferation of new legislation from Washington, business owners can easily be overwhelmed and potentially miss a narrow window of opportunity. To help small business owners understand and take advantage of these initiatives, G&A is expanding its client services to include administration of these federal programs. For their clients that employ eligible new hires, G&A will manage the process and the paperwork to ensure they appropriately capture the government’s exemptions and credits.