Posts Tagged ‘small businesses’

Health Care Reform and Small Businesses

Kelley-Jensen2Author:  Kelley Filice Jensen

How does health care reform affect small businesses?  What classifies a business as small?  Does reform help or hurt small business owners?  There is a lot of confusion about this new law and the impact it will have on small businesses and owners of those businesses.  Maybe the business has never provided health insurance benefits to employees, but would like to and would like to know more about the state exchanges set up for small business owners.  Or maybe, the business owner has no legal obligation to provide insurance for his employees, even under the new law, but would like to help his employees enroll in affordable health insurance plans available with health care reform.  Questions and answers for small businesses are right here.

Health Care Tax Credit Update, IRS Outreach to Small Businesses

The Health Reform Law, the Patient Protection and Affordable Care Act, signed by President Obama on March 23, 2010, gives a tax credit to certain small employers that provide health coverage to their employees, effective for tax years beginning in 2010. As the tax filing extension deadlines near, the IRS and the Department of Health and Human Services (HHS) announce a new round of outreach to Small Businesses and Practitioners about the small business health care tax credit.

Questions and Answers about the Health Care Tax Credit

The Health Reform Law, the Patient Protection and Affordable Care Act, signed by President Obama on March 23, 2010, gives a tax credit to certain small employers that provide health coverage to their employees, effective for tax years beginning in 2010. As a small business owner, what does this mean to you? Are there real tax savings from providing health insurance coverage to your employee? Maybe. Use the following as your guide when talking to your tax preparer:

How does this affect the normal business deduction for expenses paid for employee health insurance premiums?

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