Many of our clients have received postcards from the IRS regarding a small business healthcare tax credit. As part of the new health care reform, small employers may receive a tax credit for providing health care to employees. This credit is highly publicized, however, few employers will be able to receive the full credit. In order to qualify for this credit, you must meet the following requirements:
1) Pay at least half of your employee’s health insurance
2) Have less than 25 full-time employees (or 50 part-time employees)
3) Pay an average annual wage of employees less than $50,000
Starting in 2010, employers may receive a credit up to 35% of their health care premiums paid. This amount is reduced if your average annual wages exceed $25,000 or if you have over 10 full time employees. IF you qualify, you will earn the credit as part of the general business credit on your 2010 income tax return.
Please call or e-mail with any questions, This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 616.494.0342.
1) Pay at least half of your employee’s health insurance
2) Have less than 25 full-time employees (or 50 part-time employees)
3) Pay an average annual wage of employees less than $50,000
Starting in 2010, employers may receive a credit up to 35% of their health care premiums paid. This amount is reduced if your average annual wages exceed $25,000 or if you have over 10 full time employees. IF you qualify, you will earn the credit as part of the general business credit on your 2010 income tax return.
Please call or e-mail with any questions, This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 616.494.0342.
