[gplus count=”true” href=”https://solidhealthinsurance.com/blog/does-the-small-group-tax-credit-help-to-find-affordable-health-insurance-in-brentwood” size=”Medium” ]With the health care reform the IRS granted small business owners the possibility to receive a tax credit for providing affordable health insurance in Brentwood and nationwide.
From 2010 until 2014 when the 50 % tax credit level kicks in, employers with 10 or fewer employees and an average wage of $ 25,000 or less receive a credit of up to 35%.
Employers with 10 to 25 employees, or 25 or fewer employees with an average wage of $ 25,000 to $ 50,000 receive a partial credit.
Blue Shield in combination with H&R Block offer a handy tax estimator calculator that quickly and easily shows how much one will be able to save.
I recently attended a NAHU seminar and it was reported that only few business in Los Angeles took advantage of the tax credit. It was mentioned that this could have something to do with the required low average wage and with the accountant charges it will cost to figure out, if is advisable to take advantage of the small business tax credit.
Maybe once we reach 2014 and the tax credit rises to 50 % it will be a good tool to help introduce affordable health insurance in Brentwood.