Home » Blog » Miami CPA’S Point Out Small Employers Can Benefit from Health Care Tax Credit
accountancy service,Accountant,accountant small business,accountant for my small business,accountant for self employed tax return,Accountant Miami,Accountants,Accountants ,accountants for small business owners ,Accountants in Miami,accountants small business,accounting,accounting and tax,accounting and tax services,accounting fees,accounting firm,accounting firms,accounting firms in Miami,accounting office,accounting professional,accounting services,accounting services Miami,accounting services Miami fl,accounting tax firms,ahca cpa,ahca form 3100,AHCA Miami,AHCA proof of financial ability to operate form 3100-0009,basic accounting,basic accounting services,basic bookkeeping,basic bookkeeping services,best accountant,best accountants in miami ,best accounting firms for small business,best accounting firms in Miami,best business accountants,best cpa for small business,best online accountants for small business,best small business accountants,best tax accountants,Bookkeeper,Bookkeeper in Miami,Bookkeeper services,bookkeeping,bookkeeping Miami,bookkeeping professionals,bookkeeping services,bookkeeping services Miami fl,business accountant,business accounting firms,business cpa,business tax accountant,Certified Public Accountant,Certified Public Accountants,compiled Financial statements,contador,contador Accountants,contador Miami,contadores,contadores en Miami,corporate tax,CPA,CPA accounting,CPA firm,CPA firms in Miami florida,CPA in Miami,CPA Miami,CPA tax preparation,CPA tax preparers,do you need an accountant for small business,does a small business need an accountant,El balance general,El flujo de caja ,Estado financiero,find a personal accountant,find a tax accountant,find an accountant,finding a cpa for small business,finding a good cpa,general business accounting,good accountant,good tax accountants,hire a cpa,hiring an accountant for small business,how do i find a good accountant,how do you find a good accountant,how much are accounting services,how much CPA charge per hour,how much does a CPA charge per hour,how much should accounting cost a small business,how to find a good accountant,how to find a good accountant for personal taxes,how to find a good cpa,how to find a good personal accountant,how to find a good personal tax accountant,how to find a good tax accountant,how to find a great tax accountant,how to find a new accountant,how to find a tax accountant,how to find an accountant,how to find an accountant for a small business,how to find an accountant for self employed,how to find an accountant for small business,how to find an accountant to do my taxes,how to find the best accountant,income tax accountant,individual tax preparation services,La contabilidad,La nomina ,local accountants for small business,local business accountants,local small business accountants,looking for a good tax accountant,looking for accounting services,Miami accountants,Miami accounting,Miami accounting firm,Miami bookkeepers,Miami bookkeepers services,Miami bookkeeping,Miami bookkeeping services,Miami CPA firms,Miami tax expert,miami tax services,need accountant for small business,need accounting help,new business startup accountants,online cpa for small business,personal Accountants,personal cpa,personal tax Accountants,pharmacy accounting services,professional accountant,professional accounting and tax,professional financial accountant,professional financial statements,profit & loss statement,small accounting firms,small business accountant,small business accounting,small business accounting firms,small business accounting Miami,small business accounting professionals,small business accounting services,small business cpa,small business cpa services,small business tax accountant,small business tax accountants,small business tax cpa,small business tax preparation,small CPA firms,talk to an accountant ,tax Accountant,tax Accountant florida,tax Accountant Miami,tax accountants,tax accounting Miami,tax advisor,tax consultants,tax consulting,tax en Miami,tax filing miami,tax firm miami,tax Miami,tax planning,tax preparation,tax preparation Miami,tax services,tax services miami fl,top CPA firms in Miami,what does a certified public accountant do,what is a Certified Public Accountant,what is a CPA,when to hire an accountant for a small business,where to find a good tax accountant,why do i need an accountant,why do i need an accountant for my small business

Miami CPA’S Point Out Small Employers Can Benefit from Health Care Tax Credit

Miami CPA’S Point Out Small Employers Can Benefit from Health Care Tax Credit

Miami CPA’S Point Out Small Employers Can Benefit from Health Care Tax Credit.

With tax-filing deadlines fast approaching for many small businesses, the Miami CPA’S Tax Credit Accountants in Miami today encouraged small employers that provide health insurance coverage to their employees to check out the small business health care tax credit and then claim it if they qualify. (You can also check out our Miami CPA’S website for an overview of the tax credit.

The new Small Business Health Care Tax Credit page on the Miami CPA’S Accountants in Miami website has information and resources to help small employers see if they qualify for the credit and then calculate it correctly (recommended consulting a Miami CPA’S. The website includes a step-by-step guide for determining eligibility, examples of typical tax savings under various scenarios, answers to frequently asked questions.

The small business health care tax credit was included in the Affordable Care Act enacted two years ago. Miami CPA’S Accountants in Miami advise Small employers that pay at least half of the premiums for employee health insurance coverage under a qualifying arrangement may be eligible for this credit. The credit is specifically targeted to help small businesses and tax-exempt organizations provide health insurance for their employees, stated Miami CPA’S Accountants in Miami.

Depending upon how they are structured, eligible small employers are likely subject to one of the following three tax-filing deadlines, which fall in coming weeks according to Miami CPA’S Accountants in Miami:

  • March 15: Corporations that file on a calendar year basis can have their Miami CPAS figure the credit on Form 8941 and claim it as part of the general business credit on Form 3800, both of which are attached to their corporate income tax return.
  • April 17: Individuals have until April 17 to complete and file their returns on Form 1040. This includes Sole proprietors, as well as people who have business income reported to them on Schedules K-1—partners in partnerships, S corporation shareholders, and beneficiaries of estates and trusts according to Miami CPA’S Accountants in Miami. They also attach Forms 8941 and 3800 to their return. The resulting credit is entered on Form 1040 Line 53.
  • May 15: Tax-exempt organizations that file on a calendar year basis can use Form 8941 and then claim the credit on Form 990-T, Line 44f.

Taxpayers and CPA Firms needing more time to determine eligibility should consider obtaining an automatic tax-filing extension, usually for six months. See Form 4868 for individuals, Form 7004 and its instructions for businesses, and Form 8868 for tax-exempt organizations.

Miami CPA’S that have already filed and later find that they qualified in 2010 or 2011 can still claim the credit by filing an amended return for one or both years. Corporations use Form 1120X, individuals use Form 1040X and tax-exempt organizations use Form 990-T.

Some businesses and tax-exempt organizations that already locked into health insurance plan structures and contributions may not have had the opportunity to make any needed adjustments to qualify for the credit for 2010 or 2011. These employers can still make the necessary changes to their health insurance plans so they qualify to claim the credit on 2012 returns or in years beyond. Eligible small employers can claim the credit for 2010 through 2013 and for two additional years beginning in 2014.

Additional information about eligibility requirements and figuring the credit can be found at Miami CPA’S.

work opportunity tax credit, cpa, certified public accountants, certified public accountant, accountancy service, ahca, contador, ahca consulting, tax , accounting, accountants, accountant, accountants in miami

Work Opportunity Tax Credit

Work Opportunity Tax Credit is a tax credit to employers when they hire individuals in Target Groups like Veterans, Ex-Felons, Summer Youth Programs.

Read More »
The IRS Audit Process, IRS Audit, cpa, certified public accountants, certified public accountant, accountancy service, ahca, contador, ahca consulting, tax , accounting, accountants, accountant, accountants in miami

The IRS Audit Process

The IRS Audit Process is managed either by mail or through an in-person interview to review your records. The interview may be at an IRS office

Read More »
Scroll to Top