Read Barbara's bio.
Skip to main content
Skip to footer
Accessibility Commitment
Tax breaks for a woman-owned business with minority employees?
Q: I work for a small business owned by a woman. More than half of the employees are members of minorities. Do we qualify for any tax breaks or incentives?
A: The federal tax law does not discriminate on the basis of sex, race or national origin — the tax rules apply equally to all types of taxpayers. However, a business may qualify for special tax credits for hiring certain economically–disadvantaged individuals. For information on the work opportunity credit and the welfare–to–work credit, see IRS Publication 954, Tax Incentives for Empowerment Zones and other Distressed Communities, at www.irs.gov. Also ask your state tax department about any state–level opportunities. And the business may qualify for special financing opportunities, such as the Women's Small Business Loan Pre–Qualification Program (for information on incentives and programs for women and minority–owned businesses, go to www.sba.gov).
Some issues discussed in the expert forum are complex and continually changing.We recommend you consult a professional advisor about your specific circumstances, needs, and applicable laws. More details.