With the economy still in a slump, small business owners like me are doing everything we can to keep our costs down. A particularly troublesome cost for my business is health insurance.
However, I recently learned there are tax credits in the new healthcare law specifically for small businesses that will help us pocket some extra cash.
In Michigan, 85.1 percent, or 126,300 small businesses were eligible for a credit in 2010; 39,600 small businesses qualified for the maximum tax credit that year.
Unfortunately, I saw a survey from Small Business Majority that said 57 percent of small business owners don't know about the credits. If more small employers took advantage of this opportunity to save money, there would be more cash circulating in our community.[...]From my perspective as a lifelong, small, downtown business owner, a relatively small health care reform tax credit helped our company put tens of thousands of dollars into the economy. I see healthcare reform as powerful economic stimulus that really works.
Any cash boost, large or small, is welcome in this economy. We can use the money we save to invest in new equipment and new workers, so we can expand and help grow the economy.
I hope all small businesses owners in Michigan will look into these credits. We need all the help we can get.
Guess what? Thanks to provisions in the Affordable Care Act (ACA/ObamaCare) and to an unprecedented effort by the Obama Administration, more progress has been made in the past three years to combat health care fraud and abuse than ever before. There was a 68.9 percent increase in criminal health care fraud prosecutions from 2010 to 2011, and 2010 was already the highest ever.
* brought coverage to 2.5 million young adults* delivered big savings for seniors on prescription drug costs;* given a significant boost to small businesses through ACA tax credits;* slowed the growth of Medicare spending;* provided new treatment options for cancer patients like Spike Dolomite Ward;* saved taxpayer money by cracking down on fraud;* and offered new coverage protections for those with pre-existing conditions.
People knowing stuff. It's the greatest fear of the RWS™ and Fox "news" and every single one of the R presidential candidates.