Tax Benefits on Healthcare for Small Companies

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For smaller companies, providing benefits like health insurance can be quite a burden. This is all the more the case as the cost of health insurance continues to rise without any signs of abating despite the economic slowdown. In view of this, the government has initiated health care reform by giving tax incentives to employers who provide health insurance coverage for their employees. This is especially aimed at encouraging more small firms to offer some form of insurance coverage. The tax incentives offered by the IRS is quite significant and it ranges from 25 to 35% of premiums paid by employers for tax years 2010 through 2013. And it gets even better in 2014 when the credit will go up to 50% and can be used for two consecutive years after that.

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The Law Offices of Darrin Mish, P.A. on:

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