New Tax Credit May Help Small Businesses
Small businesses may be able to claim a new credit on their 2010 tax returns if they pay employee insurance premiums in 2010.
The credit, available through the Patient Protection and Affordable Care Act, is intended to:
1.Give small employers a tax break if they pay at least half the cost of single coverage for their employees on the group health plan.
2.Encourage small employers to offer health insurance for the first time or maintain the coverage they currently have.
These frequently asked questions may be helpful. More information about the credit, including tax tips, guides and FAQs is available on the IRS website at www.irs.gov.
This link will take you to the general overview on the IRS web page IRS LINK
Use this link to determine eligibility Eligibility chart
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