Dr. Friday explains who may qualify for the small business health insurance credit and why planning matters. She also notes the two-year limit and the value of employee benefits.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
Small business health insurance credit. To claim the credit, businesses generally must purchase insurance through a SHOP marketplace, through available varieties by the state.
The credit remains limited to two consecutive tax years, requiring employers to plan strategically, and rising health care costs make the credit particularly valuable.
It’s really important for you to understand that we’re always looking for ways to give more to our employees without having to up their taxes. One of those ways would be benefits, and one would be health insurance.
That way, you get a credit for doing it. It may not zero out the cost, but it does give something back to the employees as well as put money in your pocket. If you need help, drfriday.com.
You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.