The Small Business Health Care Tax Credit: Find Out if Your Management Firm Qualifies
Health insurance coverage is a critical part of employee recruitment and retention. But it can also seem cost-prohibitive for some community association management firms. “We’re still in the ‘employee’ market, where candidates have the upper hand,” says Jamie Dokovna, a shareholder in the Florida law firm Becker & Poliakoff who practices employment law and works in the community association arena. The Small Business Health Care Tax Credit might make insurance costs far more affordable than you realize, though.
The credit could be worth as much as 50 percent of the insurance premiums you pay for employee’s health insurance. And tax credits are more valuable than the business expense deduction alternatively available for insurance costs because they provide dollar-for-dollar tax savings — as opposed to merely reducing taxable income.
In our new article, we’ll discuss what your association management firm needs to know about the Small Business Health Care Tax Credit, including:
- The four requirements needed to qualify for the credit
- How to estimate the amount of credit you can get
- How your association management firm can claim the credit
Learn more by reading the full article here: Are You Eligible for the Small Business Health Care Tax Credit?