Frequently asked question

Submitted by seanpic on Tue, 05/07/2013 - 17:10

Hello,

I own a small business. Someone told me I might be able to get a break on my taxes if I buy insurance for my employees??

I got one suggestion from my friend for this,

If you have fewer than 25 full-time employees, and cover at least half the cost of their insurance, you’re eligible for a tax break. If you have fewer than 10 full-time employees and average salaries of $25,000 or less is your firm eligible for the full credit. Today, that’s 35 percent of your contribution toward an employee’s insurance premium.

what you suggest me,

Thankyou,
Sean :D

Posted: 08 May 2013 06:17 Post Subject:

You are referring to the Small Business Health Care Tax Credit benefits provided by the IRS. That's why you may follow this link to better understand this subject. http://www.irs.gov/uac/Small-Business-Health-Care-Tax-Credit-for-Small-Employers

Posted: 08 May 2013 08:45 Post Subject:

Yes you can but it's advisable that you take legal advice on this.

Posted: 17 Jun 2013 02:28 Post Subject:

Well, you can, but it's better that you take legal assistance on this.

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