In my email to you last week I asked if you were eligible for the tax credit provided under the new health bill. Many of you responded to me that you were not aware of the credit.
Basically if you have less than 25 employees with an average salary per employee of under $50000 you are eligible. The credit is a maximum of 35% of your premiums now and 50% 2014. I am providing a link below for you for more information.
Another provision in the health bill provides for a tax credit for non profits. The same basic rules apply per above but the credit is 25% now and in 2014 50%. It is not clear how you get this credit because of the nonprofit status but the regulations should be coming out shortly.
I am sure a lot of you volunteer in non profits so you would be doing them a service to advise them of this credit.
Here is the link to IRS Tax Credit FAQ
Small Business California has been asked by the California Endowment Foundation to obtain the views of California small businesses about the Health Reform legislation. Thank you to all of you that completed this. If you haven’t please take a couple of minutes to do so.
· WHAT DO SMALL BUSINESSES SEE AS THE ADVANTAGES OF HEALTH CARE REFORM FOR THEIR WORKFORCE AND DAY-TO-DAY OPERATIONS.
· WHAT DO SMALL BUSINESSES SEE AS PROBLEMS FOR HEALTH CARE REFORM ?
· WHAT ARE THE TOP THREE GOALS SMALL BUSINESSES WANT TO ACCOMPLISH WITH HEALTH CARE REFORM
Small Business California
2311 Taraval Street
San Francisco, CA 94116