The new Health Care Reform law gives a tax credit to certain small employers that provide health care coverage to their employees. Effective with tax years beginning in 2010 employers with fewer than 25 employees are eligible for the tax credit. Employers with 25 or more employees will begin to be eligible for the tax credit in the years to come. The calculations for the tax credit are somewhat complex. It is recommended that you consult your accountant to make the calculations and determine if taking the new tax credit is more beneficial to you than the way you currently handle your tax filing as it relates to providing health insurance to your employees. To get a rough estimate of your potential tax credit click on the embedded link and you will be taken to a Tax Credit Calculator that will give you an idea of your situation.
We are keeping abreast of the Health Care Reform's impact and implementation. If you have any questions please call me at anytime.
Sincerely,
David Hagen
Director of Employee Benefits
RSI Insurance Brokers
Toll-Free (800)828-5273 X-116
Click here for the Tax Credit Calculator