It’s Free Money, and We Can Help You Get Your Share
Do you provide formal training for your employees? Exciting news: The government wants to chip in. Yes, really. In fact, for the past 35 years the State of California has provided over $1.5 billion in training subsidies to California businesses. Smaller companies can receive up to $50,000 per year and larger companies can receive up to $375,000 per year. Never heard of this program? You’re not alone.
The funding comes from a tax that every for-profit company in the state pays, the Employment Training Tax. This tax generates over $100 million a year that is then given back to companies that successfully apply for the funds.
This is not a tax credit. It’s “free money,” given in the form of a check. The money goes to help companies cover the cost of providing training for their employees so they can more efficiently and profitably do their jobs. Almost any type of training is covered, and there are very few restrictions on who can do the training. Typically most recipient companies simply have their own in-house personnel lead the training sessions.
Examples of eligible training include:
- Business Skills, such as Leadership, Team Building, Communication, Sales, Marketing or Customer Relations
- Computer Skills, such as Accounting Software, ERP, MRP, CRM, Scheduling, MS Office and other software needed to run a business
- Manufacturing Skills, which includes almost anything necessary to produce the product or service
Virtually any for-profit company with a physical location in California can take advantage of this program. And once the state cuts the check they have no hold on how the money is used.
Of course, being that this is a government program there is a lot of paperwork involved, and the learning curve for getting this paperwork figured out is fairly steep. Luckily, we’ve already cracked the code. Because of our experience we can handle over 90% of the work required to receive the funds, thus freeing you to do what you do best—run your company.
To see how this program can benefit your company please contact Jeff Myers at JMYERS@CPA-WFY.com or call 949-910-0122
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