[Tax FAQ Friday!!!] Todays topic....Small Business Health Care Tax Credit! How do we claim the small business health care tax credit? According to the IRS, you must use Form 8941, Credit for Small Employer Health Insurance Premiums, to calculate the credit. For detailed information on filling out this form, see the Instructions for Form 8941. If you are a small business, include the amount as part of the general business credit on your income tax return. If you are a tax-exempt organization, include the amount on line 44f of Form 990-T, Exempt Organization Business Income Tax Return. You must file the Form 990-T in order to claim the credit, even if you dont ordinarily do so.
Posted on: Sat, 25 Jan 2014 00:30:31 +0000
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