Small Business Tax Credit Health Insurance

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Small Business Tax Credit Health Insurance

Posted by Bruneau Amitee on Tuesday, 8 October, 2019 18:40:37

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About the Small Business Health Care Tax Credit Maryland small businesses and nonprofit organizations that provide health insurance coverage to their employees through the Small Business Health Options Program (SHOP) may qualify for a health care tax credit from the IRS to help pay for employee coverage.

The small employer health insurance tax credit under Sec. 45R was enacted by the Patient Protection and Affordable Care Act (PPACA), P.L. 111-148, to help small businesses and small Sec. 501(c) tax-exempt organizations afford the cost of providing health insurance coverage for their employees.

Health insurance for your small business Offering health benefits is a major decision for small businesses. Use HealthCare.gov as a resource to learn more about health insurance products and services for your small business and its employees.

As a small business owner, every deduction counts. Make sure you're getting rewarded for protecting your employees. A few changes are being made to health insurance tax benefits in 2019, including small business tax credits, deductibles, HSA, and HRA options.

The Small Business Health Care Tax Credit helps small businesses and small tax-exempt organizations afford the cost of covering their employees. If you are a small employer, there is a tax credit that can put money in your pocket.