Do You Qualify for the Small Business Health Care Tax Credit?
The maximum credit is 35% of the health insurance premiums paid on behalf of full-time equivalent employees. Therefore, the premiums paid on behalf of any owners and family members are not counted in determining the amount of the credit. Click the image below to print a copy of a worksheet to help in determining whether you are eligible for the credit. If you are eligible and you have chosen us to prepare your income tax return(s), please provide us the information requested on the spreadsheet and return it to our office as this information is necessary in preparing the income tax return. PRINTABLE WORKSHEET: If you have any further questions regarding this tax credit, please feel free to contact us. |
Some businesses may qualify to take the Credit for Small Employer Health Insurance Premiums on their 2010 income tax return. To qualify, a business must have fewer than twenty-five full-time equivalent employees with average annual wages of less than $50,000. Owners and family members do not qualify. Additionally, a company must cover at least fifty percent of health care coverage.
