October 18, 2016

Understanding the Small Business Healthcare Tax Credit

Small Business Healthcare Tax Credit The Small Business Healthcare Tax Credit helps small businesses and tax-exempt organizations afford the health care they provide their employees. Your business is eligible for the credit if: Your business employees fewer than 25 employees. That includes those working full-time and part-time. If the average annual wage paid to employees must be less than $50,000 (in 2015), and the employer must pay at least 50% of all employees’ health insurance premium costs. Beginning in the tax year 2014, the tax credit became worth a maximum of 50% of premiums paid by small business employers and 35% of premiums paid by small tax-exempt employers. If you didn’t owe any taxes during the tax year, the credit could be carried back or forward to other tax years. To learn more about small business tax issues, please contact a qualified tax professional. Tip courtesy of IRS.gov
July 21, 2016

Questions About Medicare? Here Are Some Answers.

Medicare is complex and today’s changing healthcare landscape makes it more important than ever to fully understand how it works. If you or someone you know is near retirement, you may have questions about how to enroll in Medicare and what Medicare covers. Here are answers to some common questions about Medicare that can help you understand your options and avoid costly errors or gaps in coverage. Questions About Medicare? 1. What does Medicare cover? Medicare is a national health insurance program that helps with the cost of health care but doesn’t cover all medical expenses or long-term care. Though Medicare may cover many of your health-related expenses in retirement, it’s important to think ahead about whether you need to buy a Medicare supplement policy or Long-Term Care policy to help cover additional costs. Medicare consists of four parts: Part A is hospital insurance that helps pay for inpatient care in a hospital or skilled nursing facility, some home health care, and hospice care. Part B is medical insurance that helps pay for visits to doctors and other healthcare providers, outpatient care, some home health care, durable medical equipment, and some preventive services. Part C Medicare Advantage (MA) plans are approved third-party […]