Vision Insurance Quotes
According to the article “Small Firms May Claim Health Tax Credit for Dental, Vision” by Martin Vaughn found on online.wsj.com, small businesses will be able to get a new federal healthcare credit for dental and vision benefits. This is something to understand before you shop for vision insurance quotes.
The Treasury recently gave detailed advice explaining what expenses are eligible and how smaller businesses can calculate what kind of tax credit they can expect to receive. The credit plans to offset employer healthcare rates paid on and after January 1, 2010 under the new health care reform bill recently signed into law. There are some small business advocates who believe the tax credit is too limited and should include more.
Treasury Assistant Secretary for Tax Policy, Michael Mundaca, says businesses can claim state health tax credits and other subsidiaries and still not have their federal healthcare tax credit reduced. Eligibility for the tax credit is limited to small businesses with less than 25 full time workers and average wages under $50,000 per year. In order to qualify, the businesses must pay for at least 50% of employer health insurance premiums. The credit is worth potentially 35% of the employer’s health insurance costs for the smallest businesses.
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