Thursday, March 29, 2012

#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.





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