HIRE Act May Help Dealers


NADA Front Page - May 5, 2010

The recent­ly enact­ed fed­er­al Hir­ing Incen­tives to Restore Employ­ment (HIRE) Act, intend­ed to spur hir­ing and help small busi­ness­es, includes two key poten­tial deal­er ben­e­fits for employ­ees hired this year. First, if a deal­er hires an employ­ee who has been unem­ployed for more than two months, they do not have to pay the employer’s por­tion of the Social Secu­ri­ty tax­es. Sec­ond, deal­ers who employ the new­ly-hired employ­ee for 52 con­tin­u­ous weeks would also be enti­tled to a tax cred­it of up to $1,000.


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