Nichols Accounting Nichols Accounting Proactive Tax and Growth Planning in Boise, Nampa, Ontario, Treasure Valley
Boise 208-345-6655 | Nampa 208-442-0188 | Ontario 541-881-1433
Certified Public Accountants
  • About Us
    • Firm History
    • Firm Philosophy
    • Staff
    • Locations
    • Referrals
    • 40 Years
  • Taxes
    • Business Tax Return Preparation
    • Personal Tax Return Preparation
    • State and Local Tax Services
    • Tax Credits
      • Energy Efficient Commercial Buildings Tax Credits
      • Research and Development Tax Credits
      • Small Business Health Care Credit
    • Tax Planning and Consulting
    • Trust, Estate, and Gift Tax
      • Estate & Gift Tax
      • Income Tax on Estates and Trust
  • Consulting
    • Financial Consulting
      • ACA Consulting
      • Bank Financing Assistance
      • Bankruptcy Consulting
      • Business Valuations
      • Cash Flow Forecasting
      • Divorce Consulting
      • Education Funding Planning
      • Employee Benefit Plan Design
      • Enterprise Advisory Planning
      • Estate Planning
      • Family Business Planning
        • Building Effective Family Farm Management Systems
        • Family Business
      • Internal Control Review
      • Litigation Support
      • Merger and Acquisition Assistance
      • Strategic Planning
      • Succession Planning
      • Trends Ratio Analysis
    • Risk Consulting
      • Forensic Accounting
      • Fraud Prevention Training
      • Internal Control Review
    • Talent Management
      • Communication
      • Job Benchmarking
    • Tax Consulting
      • Entity Planning
      • Estate Tax
      • Income Tax
      • IRS Dispute Resolution
      • Tax Planning
  • Financial Statements
    • Agreed Upon Procedures
    • Bankruptcy Accounting and Reorganization Assistance
    • Compiled, Reviewed, and Audited Financial Statements
    • Monthly Prepared CPA Financial Statements
    • Personal Financial Statements
  • Bookkeeping
    • Accounting System Set-Up and Support
    • Bookkeeping
    • General Ledger and Accounting
    • Payroll Services
  • Careers
    • Employment Opportunities
      • Administrative Professional & Para-Professional
      • Client Accounting Services Specialist
      • Human Resource Administrator
      • Senior Accountant
      • Senior Bookkeeper
      • Staff Accountant
      • Administrative Professional
      • Administrative Professional & Para-Professional
    • Firm Culture
      • Fun At Work
      • Giving Back
      • Professional Development
    • Nichols Internships
  • Industries
    • Agriculture
      • Agribusiness
      • Farm and Ranch Operations
      • Timber/Mining
    • Churches
    • Construction and Real Estate
    • Dealerships
    • Manufacturing and Distribution
    • Medical
    • Not for Profit
    • Professional Services
    • Quasi-Municipalities
    • Retail
      • Grocery
      • Restaurants
      • Retail
  • News Center
    • Blog
      • Agribusinessss
      • Estate Planning
      • Family Business
      • Tax Planning
    • Media
    • News Feed
    • Newsletter
    • Useful Links
    • Nichols Life
  • Client Portal
    • Client Documents
    • Payroll Portal
    • File Upload
    • New Client Portal

Small Business Health Care Credit

In 2010, the Small Business Health Care Credit was made available to small business (those under 50 full-time equivalents*), to incentivize small businesses that offered health care to their employees.  This credit is also available for tax-exempt organizations, which is refundable.  If your nonprofit provides health benefits, contact us to determine how you can take advantage of the credit and receive a refund.

EXAMPLE of how it works:

Employer Paid Insurance Premiums         $50,000

Health Care Credit Calculation                       15%

(based upon wages and FTE)

Tax Savings                                                  $7500

If you’re a small business owner that didn’t owe tax in the current filing year, you could carry forward, or carry back the tax credit to other tax years.

Partial Credit: Phase-Out

The credit is phased out as the number of FTEs* increases from 10 to 25 and as average employee compensation increases from $25,000 to $50,000.

*There are exclusions and specific rules around the definition of FTE (Full time equivalents), for purposes of the Small Business Health Care Credit.  Contact us to determine if you qualify.

Contact
Phone
Boise 208-345-6655 | Nampa 208-442-0188 | Ontario 541-881-1433
Email
CLIENTCARE@
NICHOLSACCOUNTING.COM
Newsletter
CLICK HERE TO SUBSCRIBE
Recent Tweets from @Nichols_CPA:
  • "As we continue to receive further guidance, we will continue to update our post regarding the Paycheck Protection P… https://t.co/aT5YSLgIRi"
  • "A slight delay, and some tools for the Paycheck Protection Program. https://t.co/kNb8t8D0j6"
Tax and Financial
Tool Center
Blog

Pages

  • Home
  • About Us
  • Financial Statements
  • Bookkeeping
  • Consulting
  • Tax
  • Client Portal

Pages

  • Industries
  • News Center
  • Careers
  • Tax and Financial Tools

News Center

  • Blog
  • News Feed
  • Subscribe

Financial Tools

  • Check Your Refund
  • Tax Due Dates
  • Forms
  • Retention Dates
  • Tax Rates
  • Financial Guides
  • Tax Tips

© 2021 Nichols Accounting. All Rights Reserved.

© 2021 Peppershock Media Productions, LLC.

 The Nichols Accounting Group, PC BBB Business Review Idaho Society of Certified Public Accountants Oregon Society of CPAs CPA USA Association Member of AICPA

Download