Health Care Reform-Giving with one hand and taking with the other.

Now is a good time to take advantage of a tax credit before the tax rate increases go into effect.
Buried in the mammoth Patient Protections and Affordable Care Act recently signed into law is a tax credit that can benefit small business owners who are providing health care coverage for their employees. A small business that has fewer than the equivalent of 25 full time employees and pays average wages of less than $50,000 per employee may be eligible for a tax credit of up to 35% of the health insurance premiums paid for those employees.
Over the next few weeks we will be reviewing our client’s eligibility to identify those taxpayers who will benefit from this credit.
If you think you fit into this category now would be a good time to get in touch with your CPA.