How Much Tax Credit Are Your Clients Eligible For?
The new health care reform law provides certain tax benefits for qualifying small businesses.
These are Businesses:
With less than 25 full time equivalent (FTE) employees,
With average salaries of less than $50,000 per employee, and
With employer contributions to health insurance premiums of at least half the cost of single coverage for their employees.
Emerson Ried does not provide legal or tax advice. This tool is preliminary in nature and is designed to help estimate the maximum amount of credit available to employers who believe they qualify for the tax credit. It provides an estimate only for the maximum amount of credit, if any; the actual amount may vary depending on the particular circumstances. Employers who think they qualify for the tax credit should consult with a legal and/or tax professional.
These calculations do not apply to tax-exempt employers, who are subject to special rules. Please consult your Emerson Reid Account Executive for additional information.
Number of eligible FTE employees:
W2 Wages for all employees:
Did your client contribute more than 50% towards the costs of your employees' health insurance:
Amount your client paid toward the Premium:
Calculated Tax Credit
Amount of annual premium qualifying for credit:
Maximum Credit Amount Available:
Means that employer does not meet the IRS requirements to receive a credit.
Means that employer does meet the IRS requirements to receive a credit.