Under the Affordable Care Act, the Internal Revenue Services issued guidance to encourage small groups to offer health care coverage for the first time or enable them to maintain the coverage they currently have. IRS Notice 2010-44 provides guidelines to help small group employers determine whether they qualify for the credit and estimate the amount of the credit.
If you are a small employer (business or tax-exempt) that provides health insurance coverage to your employees, determine if you may qualify for the Small Business Health Care Tax Credit by clicking here and following three simple steps.
Until Next Week,
Michelle D.
Good article.
ReplyDeleteOne thing your readers should be aware of is there are different ways to access the health tax credit, especially if you are working, which will lower your health care costs.
What you do is: combine a limited medical benefits program with a high deductible HMO.
Ordinarily, the limited medical benefits program would not qualify for the tax credit, but wrapped with a HMO it very well might.
A numerical example is here: http://www.franchise-info.ca/supply_chain/2010/07/Small-business-tax-credits.html
It is a pretty neat idea: using the health tax credit to essentially fund a high deductible.