If you own a small business and are looking for some relief from health care expenses, help may be on the way. You may qualify for the Small Business Health Care Tax Credit on your 2010 federal income taxes under the new federal health care law if you have fewer than 25 employees.
Under new health care laws, some businesses may be penalized in the future for not providing employees with health insurance. The government hopes to encourage employer-based health coverage by helping small businesses cut costs.
Keep an eye out for postcards sent out by the IRS to businesses that might qualify. For more information, visit www.irs.gov.