#HealthCare #Tax Credit for #SmallBusiness and Non-Profits

The IRS is asking,

 "Are you a Small employer? Get the credit you deserve.

      If you are a small employer. . .

              With fewer than 25 full-time equivalent employees?

              That pays an average wage of less than $50,000 a year?

               And pays at least half of employee health insurance premiums?

                               . . .then there is a tax credit that may put money in your pocket."


More information is available at: http://www.irs.gov/newsroom/article/0,,id=223666,00.html 


It is useful to note that even if the lingering slow economy still has your business operating at a loss, this credit can be
 carried back 1 year or forward up to 20 years.  Go ahead and file Forms 8941 and 3800 to establish your claim to
this credit now so that it will be available when you need it in the future.

Also, if you have more than 25 employees, but some work part-time, you may still qualify for this credit.

In general, this credit is available for health insurance the business pays for employees who are not an owner of the business.
There are exceptions, so read the instructions for Form 8941 carefully.

What Donald Duck and a 2% Income #Tax Have in Common

• 

1 of 6

From Abe Lincoln To Donald Duck: History Of The Income Tax : NPRhttp://n.pr/GOCv3v

The story of how the U.S. wound up with the income tax is the story of two wars, a Supreme Court justice on his death bed, and Donald Duck.

This story posted yesterday by National Public Radio is interesting on several levels. The government needed everyone to pay income taxes to finance World War II, and used Donald Duck paying $13 tax on income of $2,501 as an example for all. I'm curious,

Join Doug Beecher,MBA,CPA for Live #QuickBooks #Training 'Setting Up #Inventory' Mar 15 @4 pm in Hurricane

Topics for this training include:

• Setting preferences so your QuickBooks file can handle inventory
• How to enter your individual products into inventory in QuickBooks
• Using purchase orders in QuickBooks to monitor inventory
• How to record inventory when it is received, whether or not you have been billed for it yet
• Making manual inventory adjustments for shrinkage, damage, obsolescence, etc.
• Choices for using QuickBooks to track finished goods you produce ... comparing the use of group items with inventory assemblies, and much more