Small Business Tax Credit
Small Business Tax Credit. From our blog http://alexmillers.wordpress.com/2011/04/18/president-kills-new-1099-reporting-of-ppaca/
More small businesses are providing health insurance to their employees in 2011 as a result of the tax credit of up to 35% and 25% for non-profits offered through PPACA starting in 2010. Several insurers have reported significant increases in small group enrollments. Coventry Health Care added 115,000 small group enrollments, representing an 8% increase; and Blue Cross Blue Shield of Kansas City saw a 58% jump, 38% of which had never offered health benefits to employees before.
Click video IRS – Health Care Small Business Health Care Tax Credit
Calculator – See How Much the Small Business Tax Credit Can Save Your Business
Further information can be found at http://www.irs.gov/newsroom/article/0,,id=223666,00.html. In addition, we have a simple work sheet that can determine exactly how much the credit is worth to you. Importantly, the Tax Credit will increase to 50% for small businesses by 2014!
Please contact our office for further guidance on your group’s plan.