The small business health care credit reduces your business
tax bill by up to 35% of eligible premiums you pay for your
employees’ health insurance. The full credit is available when
you have ten or fewer workers who earn average annual wages
of $25,000 or less.
A law enacted in March offers two new benefits for hiring
unemployed workers. First, for 2010 you can claim a payroll tax
exemption from your share of the social security tax on wages
you pay to qualifying new hires through December 31. Second,
for 2011 you’ll be eligible for the new hire retention credit for
wages you pay to those qualifying employees who stay on the job
for 52 weeks. The maximum credit is $1,000.
Looking for info about taxes and your equine business? We’re ready to provide practical tax-saving suggestions, as well as updates on legislation that could affect you.