While many of the posts on this site are geared toward small business owners, we think you—the employee—also have a role to play in raising the awareness of this credit.
Keep in mind, we’re not suggesting you become pushy with your boss, or demand health coverage, but what if your company doesn’t know about this credit?
Here’s an idea, find a time when your boss isn’t busy and have a quick conversation about the credit. You might even consider saying something like “ I just read about this small business health care tax credit. It’s designed to help companies like ours offset the high cost of insurance. Have you heard about this? For those eligible, it looks pretty substantial. If you’re interested, just check out www.nchealthcarecredit.org”
And leave it there. You never know why a small business owner doesn’t provide insurance, it’s possible there simply isn’t enough money to keep the lights on and provide coverage. So don’t push too hard. Just making them aware of the credit may be enough to push them over the edge.
Thanks to a real interest in learning more about the Small Business Health Care Tax Credit, we’ve developed a companion piece to the existing tri-fold brochure—it’s a one-page “Tip Sheet” that can easily be printed, emailed or otherwise shared with friends, colleagues, your CPA, etc.
While it does share some of the same content as the brochure, it also includes several Frequently Asked Questions and of course a link to this website where more detailed information can be found. Our hope is that these materials will lead to a better understanding of the credit and also enable you to speak with the appropriate people about why you (or they) should take advantage of the tax credit.
We’ve made a conscious decision to keep posting stories and ideas on this site even after the end of tax season. The reason why is simple; tax time will come around again before you know it and we want to be sure that those eligible to receive the credit know about it and take advantage of it.
The upcoming year will result in a lot of change for the insurance industry. While many of the mandatory requirement components of the Health Care Reform Act will more directly impact larger employers, the indirect impacts including likely cost increases will undoubtedly impact small business owners.
If you’re not taking advantage of the credit, please consult your tax advisor. And remember, if you find that you are eligible for the credit and haven’t been taking advantage of it in recent years, it may be worthwhile to revisit your previous years tax returns.
The small business health care tax credit was designed to help small business owners—the backbone of the American economy—don’t miss out on it.