Small businesses that pay at least half the health insurance premiums for their staff may be eligible for a federal tax credit. Starting in 2014, the credit applies only if the coverage is obtained through a Small Business Health Options Program (SHOP) Exchange. However, because some counties in Washington and Wisconsin don’t have a SHOP, the IRS has provided relief so small businesses can claim the credit. Will similar relief be provided nationwide?
You’ll find my latest books available on Amazon:
- Smooth Failing: Top industry leaders share their secrets for turning pain into profit, The Living Edition (which grows as new chapters are added at no cost)
- J.K. Lasser’s Guide to Self-Employment: Taxes, Tips, and Money-Saving Strategies for Schedule C Filers
