Trucking Company Case Study
Arvo Generated over $100K+ in WOTC for a Large Trucking Company
Trucking Companies are leaving hundreds of thousands of dollars of potential Work Opportunity Tax Credit (WOTC) uncaptured.
We’ve discovered that most motor carriers have never heard of WOTC or don’t fully understand how beneficial it can be to their company. Because of this, they are missing out on the chance to positively impact their operating ratio and cash flow.
Part 1
Opportunity
New to WOTC?
Like many businesses of all sizes, this trucking company had never heard of WOTC. As they generate over $150M and hire over 600 employees annually, they easily saw the transformative power of WOTC after talking to us.
The trucking company overlooked WOTC for two main reasons:
1. Over-reliance on CPA to handle all tax needs.
2. Failure from IRS to market important tax programs.
Part 2
Action
WOTC implemented through onboarding.
Arvo implemented three custom solutions to get the trucking company started with WOTC:
1. A one-minute electronic WOTC form for new job applicants.
2. Seamless screening integration with Tenstreet, the company’s applicant tracking solution (ATS) provider.
3. A reporting system to identify additional actions to optimize WOTC going forward.
Part 3
Results
$100k+ credit generated in first year!
The trucking company received $114,400 in WOTC credits after implementing Arvo’s strategy and optimizing processes in response to custom reports.
WOTC Credit Claimed
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Trucking Company
Generates $100K+ in Work Opportunity Tax Credit by using Arvo
Trucking Companies are leaving hundreds of thousands of dollars of potential Work Opportunity Tax Credit (WOTC) uncaptured.
We’ve discovered that most motor carriers have never heard of WOTC or don’t fully understand how beneficial it can be to their company. Because of this, they are missing out on the chance to positively impact their operating ratio and cash flow.
The Challenge
Never heard of the Work Opportunity Tax Credit
The motor carrier is a $150M+ trucking company that has roughly 1,100 employees made up of company drivers, office staff and technicians. This company hires approximately 600 employees per year and despite WOTC being an employment tax credit that has been in law since 1996, they had never heard of it.
The cause for this was due to:
1. They expected their CPA to keep them informed on all things tax.
2. The IRS does a poor job of marketing tax programs that benefit businesses.
The Solution
WOTC Implemented Seamlessly Through Onboarding
After speaking with the WOTC experts at Arvo, they were shown capturing this credit could be implemented seamlessly into their onboarding process.
Arvo created a custom strategy that involved 3 major components:
1. An electronic WOTC form engineered to be easy for the job applicant to be able to be completed within a minute.
2. An integration of Arvo’s WOTC survey with their ATS provider Tenstreet, so that all applicants would be screened.
3. A reporting system that measured the results of metrics that the trucking company used to optimize performance.
The Results
Trucking Company Generated a $100K+ WOTC Credit
Within a year of beginning WOTC with Arvo, this motor carrier worked to optimize performance resulting in their tax credit going from $0 to $114,400.
WOTC Credit Claimed