Friday, February 25, 2011

Small Business Health Care Tax Credit

It is tax season and if you are a small business owner, you might be eligible for the Small Business Health Care Tax Credit.

The Small Business Health Care Tax Credit, a sliding scale tax credit that pays up to 35% of a qualified employer's cost to provide health insurance coverage for it employees. It's available for tax years 2010-13 and can be claimed on an employer's annual tax return. If you have fewer than 25 Full Time Equivalent Employees for the tax year, have average annual wages less than $50,000 per Full Time Employee, and employee's premiums are paid under a qualifying arrangement, you are eligible.

In order to claim this credit, employers must complete IRS Form 8941 (available at http://www.irs.gov/pub/irs-pdf/f8941.pdf) and attach it to their annual tax return. Instructions on how to complete the IRS Form 8941 are available on the IRS website at http://www.irs.gov/pub/irs-pdf.i8941.pdf.

For more information on the Tax Credit, Barr's Insurance, Inc. recommends that you consult a licensed financial adviser or tax professional.

Notice: This post in informational only and does not constitute legal, financial or tax advice.

Garage Insurance

Garage Insurance

In the event of a fire, employee injury, theft of a customer’s vehicle—whatever the scenario, our job is to make sure you are covered financially so you can quickly get back to business as usual.

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Barr’s Insurance offers competitively priced insurance products which automatically include a host of important coverages. You may also consider adding commercial auto, workers’ compensation, life insurance or an umbrella policy to conveniently consolidate your insurance with one reliable agency.

Barr’s Insurance is proud to represent many fine insurance carriers. Founded in 1873, Barr’s Insurance has been serving businesses like yours for several generations.

We would appreciate an opportunity to show you how Barr’s Insurance commercial products can benefit your business.

Posted by Barr's Insurance at 10:00 AM 0 comments