Did you know that Obamacare offers a Small Business Health Care Credit, as high as 35% of health care costs paid by qualifying organizations? NO? Well this may be a solution for those companies cutting back on health-care coverage for their employees. With this credit, the burden of health care costs may be alleviated somewhat. There are requirements to qualify for this credit: 1) The company must be providing health care insurance to its employees, 2) The company cannot employ more than 25 full-time employees, and 3) The average compensation per employee must be less than $50,000.
For more information on this credit and how to file go to the IRS website www.irs.gov/uac/Small-Business-Health-Care-Tax-Credit-for-Small-Employers