Thursday, December 23, 2010

The Health Care Credit Explained!

This one may be a little too insider-baseball and funny only to tax return preparers.

Bob Jennings, whose seminars I attend for CPE, does a bit on the business credit authorized by Obamacare to help offset the cost of providing health insurance to employees. Simple, right? Not so fast:

Sadly, Jennings isn't exaggerating. I've tried to run this calculation for my business clients that might qualify and after the torturous calculation it turns out the credit either doesn't apply or is so minuscule as to be useless.

Well, that's tax policy for you. Nothing but the hidden land mines of unintended consequences.

No comments:

Post a Comment