The 2010 Affordable Care Act allows small businesses with less than twenty-five (25) full time employees with an average annual income of less than $51,600 to claim a tax credit for up to fifty percent (50%) of the employer’s contribution to the health insurance premiums. This credit is the government’s way of incentivizing small business owners to pay for health insurance for their employees.
If you need tax advice, contact our law office at 816-524-4949 or visit our website at www.Hoorfarlaw.com.