Affordable Insurance for All: How to Maximize the Small Business Tax Credit

Course Description
In today’s economy, insurance for individuals and businesses alike is an ever-encroaching cost. This course shows you how you can take advantage of the Affordable Care Act, a tax credit program that help small businesses purchase health insurance. Designed to help the large number of small businesses and the even larger number of employees afford health insurance, this provision has the potential to affect a huge portion of the United States population. This course takes a detailed look at this legislation, examining which businesses qualify for participation, the additional restrictions on how the business’ filing status affect participation, and how the tax credit compares with other tax saving programs already established. Learn everything you need to know to help your small business clients obtain the maximum benefit offered by this tax credit.

Learning Objectives

Upon successful completion of this course, participants will be able to:

• Determine if your small business clients qualify for this tax credit through knowledge of the eligibility formula, including determination of eligible and non-eligible employees.
• Advise clients on the health insurance contribution and average annual wage required to qualify for the tax credit.
• Identify the additional restrictions on the tax credit and work with clients to determine how the credit applies to their business based on a sliding scale.
• Assist clients in determining whether the tax credit or some other tax-saving plan is the best method for each client’s specific business model and status.  This will include examples of how to complete a tax calculation, if the tax preparer chooses to do so.
• Explain the difference in how the tax credit is applied for profit and nonprofit employers.
• Explain the timing of the tax credit, the percentage of the tax credit, the length of time a business can obtain tax credit, and the maximum tax credit allowed by 2014.
• Explain who is excluded from this program.