National Marketing Group would like to share with our associates and clients an update on small business health care tax credit information provided by the Internal Revenue Service. If you have any questions regarding this information, I invite you to call our offices at 305.592.9926.

Roger Gonzalez, Founder and President
National Marketing Group Services, Inc.


  What You Need to Know about the Small Business Health Care Tax Credit
You may qualify for employer health care tax credits if you have fewer than 25 full-time equivalent employees making an average of about $50,000 a year or less.

To qualify for the Small Business Health Care Tax Credit, you must pay at least 50% of your full-time employees' premium costs. You don't need to offer coverage to your part-time employees or to dependents.

Starting in 2014, the tax credit is worth up to 50% of your contribution toward employees' premium costs (up to 35% for tax-exempt employers).

Higher benefits for smaller businesses
The tax credit is highest for companies with fewer than 10 employees who are paid an average of $25,000 or less. The smaller the business, the bigger the credit.

Example of how the tax credit works
Example for an employer who qualifies for the maximum credit worth 50% of their premium contribution in 2014:

Number of employees: 10

Wages: $250,000 total or $25,000 per employee

Employer contribution to employee premiums: $70,000

Tax credit amount: $35,000 (50% of employer's contribution)

To learn more visit IRS.GOV or call us at 305-592-9926 and ask to speak to one of our healthcare reform specialists.

 

866.592.9926 or 305.592.9926
7705 NW 48th Street, Suite 100
Doral, FL 33166


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National Marketing Group Services, Inc.
Online at MyNMGS.com