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Small Business Tax Considerations Under the Health Reform and HIRE Acts June 9, 2010 Presented by: Thomas J. Moul, CPA The analysis provided is not intended as or written for use by any taxpayer to avoid penalties. The analysis is not intended as legal advice. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.
Federal Health Care Reform ,[object Object]
What It Gives You ,[object Object]
Who Qualifies? ,[object Object],[object Object],[object Object]
Determining FTEs ,[object Object],[object Object],[object Object],[object Object]
Average Compensation Limit ,[object Object],[object Object],[object Object],[object Object]
Aggregation Rules Apply ,[object Object]
Non Elective Contributions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
How to Claim the Credit ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Credit Availability ,[object Object],[object Object]
Credit Calculation ,[object Object],[object Object],[object Object]
Small Business Benchmark Premium ,[object Object],[object Object],[object Object],[object Object]
Credit Percentage ,[object Object],[object Object],[object Object]
Percentage Reductions ,[object Object],[object Object],[object Object]
Percentage Reductions, cont. ,[object Object],[object Object],[object Object]
Percentage Reductions, cont. ,[object Object],[object Object],[object Object]
Examples of Credits . . Premiums $50,000 $50,000 $50,000 $50,000 FTEs 5 13 5 13 Average Wages $24,000 $24,000 $33,000 $33,000 Applicable % 35% 35% 35% 35% Initial Credit $17,500 $17,500 $17,500 $17,500 FTE Reduction 0% 20% 0% 20% Wage Reduction 0% 0% 32% 32% Credit Reduction $0 $3,500 $5,600 $9,100 Credit $17,500 $14,000 $11,900 $8,400
Reduction of Tax Deduction ,[object Object],[object Object],[object Object]
Tax Exempt Organizations ,[object Object],[object Object],[object Object]
Beware – Many New Taxes! ,[object Object],[object Object]
New Taxes – cont. ,[object Object],[object Object]
New Taxes – cont. ,[object Object],[object Object],[object Object],[object Object]
HIRE Act ,[object Object],[object Object]
Payroll Tax Exemption ,[object Object],[object Object],[object Object],[object Object]
Qualified Hires ,[object Object],[object Object],[object Object],[object Object]
Qualified Hires, cont. ,[object Object],[object Object],[object Object],[object Object]
How to Claim ,[object Object],[object Object]
Employee Impact ,[object Object],[object Object],[object Object]
Retention Credit ,[object Object]
Qualified Employees ,[object Object],[object Object],[object Object],[object Object]
Credit Amount ,[object Object],[object Object]
Credit Calculation ,[object Object],[object Object],[object Object]
Reduction of Tax Deduction ,[object Object],[object Object]
Questions? ,[object Object],[object Object]

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Small Business Tax Considerations Under the Health Reform and HIRE Acts

  • 1. Small Business Tax Considerations Under the Health Reform and HIRE Acts June 9, 2010 Presented by: Thomas J. Moul, CPA The analysis provided is not intended as or written for use by any taxpayer to avoid penalties. The analysis is not intended as legal advice. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.
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  • 17. Examples of Credits . . Premiums $50,000 $50,000 $50,000 $50,000 FTEs 5 13 5 13 Average Wages $24,000 $24,000 $33,000 $33,000 Applicable % 35% 35% 35% 35% Initial Credit $17,500 $17,500 $17,500 $17,500 FTE Reduction 0% 20% 0% 20% Wage Reduction 0% 0% 32% 32% Credit Reduction $0 $3,500 $5,600 $9,100 Credit $17,500 $14,000 $11,900 $8,400
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