Monday, May 17, 2010

Healthcare Tax Credits

Here is some of the basics of the healthcare credits available for small businesses (see linked article for more information http://www.lifeandhealthinsurancenews.com/News/2010/5/Pages/IRS-Releases-Small-Group-Tax-Credit-Examples.aspx?nul ):

For tax years 2010 to 2013, the maximum credit is 35% of premiums paid by eligible small business employers and 25% of premiums paid by eligible employers that are tax-exempt organizations,” officials write in a summary of the notice.

Employers with 10 or fewer FTE employees that pay annual average wages of $25,000 or less can qualify for the maximum credit.

Employers with 10 to 25 FTE employees that pay annual wages of $50,000 or less can qualify for a smaller tax credit.