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,
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.