Health Care Laws Baffle Businesses; A Seminar on Reform Program's Tax Credits Offered Information

By Turner, Kevin | The Florida Times Union, October 1, 2010 | Go to article overview

Health Care Laws Baffle Businesses; A Seminar on Reform Program's Tax Credits Offered Information


Turner, Kevin, The Florida Times Union


Byline: KEVIN TURNER

Nationwide, many small business owners are asking the same questions.

Will health care reform benefit me or cost me more? Will I be eligible for a health care tax credit for offering the benefit to my employees?

Small business owners who have 10 or fewer employees who are paid an average of $25,000 a year or less may be eligible for 35 percent of what they contribute to employee premiums, if they pay at least half of employee premiums. That amount is to go up to 50 percent in 2014, according to the Internal Revenue Service website.

A Jacksonville CPA firm wanted its small business clients who may be eligible for the credit to know about it, so the firm invited them to a seminar Thursday to give them more information.

"You pass a 2,300-page bill no one's read, you have to shake it down to what people can understand," said Mark Patrick of Patrick & Robinson CPA at the lunchtime seminar at The Q restaurant in San Marco.

But despite the size of the bill passed this spring, there are holes in the Affordable Care Act that are still being filled in. For example, the IRS form that small business owners will fill out to claim the tax credit for 2010 is in draft form, and the IRS has not yet created instructions for how to use it, he said.

"We don't know how big the ripple's going to be from this rock they [U.S. Congress] dropped in the ocean," Patrick said.

Still, there are plenty of small businesses that could benefit from it. Some small business owners who pay 50 percent of their employee health care premiums and get a refund worth 35 percent will see it makes financial sense, he said. Others may not qualify or find the effort spent on getting the credit could outweigh the benefit derived from it, Patrick said. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Health Care Laws Baffle Businesses; A Seminar on Reform Program's Tax Credits Offered Information
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.