Quote:
Originally Posted by Minte
I am confused about that. One employee would not allow for a group policy. I know that there are specific tax codes that our accountants plug in for insurances. But we are a C-corp and have been over 50 employees for many years.
Her boss might just be taking the expense as he needed it to defer taxable income.
THe odds of him getting audited aren't great and the worst case is he has done something questionable.. he pays the interest and the penalty.
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http://www.rgj.com/article/20130930/...dable-Care-Act
Can small employers get a tax credit?
Employers who provide health insurance and have less than 25 full-time employees can get a tax credit of up to 35 percent in 2013 or 25 percent for nonprofits. This can increase up to 50 percent ? 35 percent for nonprofits ? in 2014, with companies who have fewer employees seeing the largest tax credit.
Such employers also must pay average annual wages below $50,000, pay for 50 percent of the employee?s premium (not including dependents), and purchase insurance through the exchange. Companies that do not owe taxes also can carry the credit back or forward to other years.