23 October 2010
Tax Credit for Small Businesses? Apply Here.
Tax Credit for
Small Businesses?
Apply Here
Insurance coverage for employees can be a problematic expense for small businesses. More than one-third of Americans work for small businesses which employ less than 100 people, and few of these companies provide comprehensive insurance, or any health insurance, simply because the cost can be prohibitively expensive. To help lessen that burden, the government is offering a tax credit to companies that have fewer than 25 employees with wages that average less than $50,000 annually.
It is estimated that 84% of small businesses are eligible for this tax credit, and business owners can find out potential tax credits by visiting the IRS website or the Small Business Majority website.
Utah’s very own Besty Burton, the owner of The King’s English Bookstore, and Chair of the Board of Directors for Local First Utah, has received national attention for her advocacy of this issue. Her primary concern is the education of small business owners regarding critical issues that will help them stay in business. Burton’s story is covered both in the Huffington Post and the New York Times.
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