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Apr 3, 2010
Kathy Cuddapah

Nonprofits benefit from the Small Business Health Care Tax Credit

The health care bill signed by President Obama last week, the Patient Protection and Affordable Care Act, provides a credit that can be used by small tax exempt organizations to help provide or keep health insurance for their employees.  To qualify an employer must cover at least half of the cost of health care coverage, the company must have less than the equivalent of 25 full-time workers, and pay average annual wages of less than $50,000.  The IRS will be providing information in the future on how to claim the credit – so stay tuned!

Link to IR-2010-38 http://www.irs.gov/newsroom/article/0,,id=220848,00.html

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