Small Business Health Care Tax Credit

With the passage of the Patient Protection and Affordable Care
Act in March of 2010 small employers may qualify for a tax credit worth up to 35% of the health insurance premiums paid in 2010. 

Quick Summary

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Be a small employer - employ less than the equivalent of 25 full time employees (credit is reduced for employers with between the equivalent of 10 to 25 full time employees).
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Average annual wages - pay average annual wages less than $50,000 per employee (credit is reduced for average payrolls between $25,000 and $50,000).
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Provide health care coverage - must cover at least 50 % of the health care cost for some of your workers based on the single premium rate.

To learn more, access the links below or give us a call.

IRS Small Business Health Care Tax Credit: Frequently Asked Questions Small Business Health Care Tax Credit: Frequently Asked Questions

IRS Notice 2010-44: Detailed Guidelines for New Small Business Health Care Tax Credit  IRS Notice 2010-44: Detailed Guidelines for New Small Business Health Care Tax Credit

 

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