Health Care Reform Small Business Tax Credit Kicks In

[Omaha Steve]

http://www.laborradio.org/node/13872

Submitted by Doug Cunningham on July 15, 2010 - 4:48pm
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Another component of the healthcare legislation passed by Congress at the start of this year is going into effect – a tax credit will help relive some of the burden on small businesses that wish to provide their employees health care. Jesse Russell reports:

A new report from Families USA and the Small Business Majority shows that more than 456,000 small businesses in California will qualify for new tax credits that will help pay for employee health care costs. The new program is part of the health care legislation passed by Congress earlier this year and it impacts businesses with less than 25 employees. Nationwide the credit will impact 4 million small businesses that are currently providing or want to provide health care for employees will qualify. John Arensmeyer with the Small Business Majority said costs are what makes providing health care so difficult for small business. Small business costs for health care are 18 percent higher than big business health care costs. Arensmeyer said countrywide there is substantial help coming for businesses.

: Nationally as the study shows 80 percent of all small businesses are going to get some benefit from this and almost 1.2 million are going to be able to take the maximum tax credit.

[nevergiveup]

1. I pay my 3 employees to much to qualify for this tax credit

but I am happy for those small companies that are getting some relief. Health care plans for small businesses have become almost financially prohibitive. Small ma and pa businesses like ours are rapidly becoming a thing of the past.