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Healthcare Tax Credit Unusable By Most Business | Financial Awakenings

Only a small number of employers will benefit from the ballyhooed 35% tax credit for employers who pay for at least 50% of their employees’ health insurance.  The credit is available for employers with under 10 employees and average wages of under $25,000.   That will affect only small businessess who pay minimum wage, most of whom can’t afford to pay benefits anyway. 

In an interview with Investment News, I said, “Most financial planning firms with more than 10 employees probably won’t qualify at all because firms of that size likely will have at least a few professional salaries that will push the average too high.”

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