President Obama is innovative in his ideas. He raised awareness about health care needs of employees and introduced the ‘Affordable Care Act.’ It received wide acclaim and is more popular by its nickname "Obamacare". As a part of this healthcare initiative, ‘tax credit’ is introduced to bring relief to small business owners. A certain level of maturity is needed for business owners to understand the real significance of ‘tax credit’. It is going to provide a substantial budget to small business owners so that they can take advantage of the money and invest it to fulfill the health care needs of their employees.
Small businesses can start taking advantage of this program of President Obama. They haven’t yet resorted to it. For example, in Nevada itself 30,000 businesses are eligible to receive grants by taking advantage of the tax credit and receiving $1,000 or more. The credit can be used to offset any increases in business spending apart from offering health insurance to employees.
The program is already there and small business owners are not aware of it. So, the issue is the money is there and business owners are not availing. Many are still left out to apply. An estimate says that 29,600 businesses are found to be eligible for ‘tax credit’. It brings an ounce of relief not just for the ‘mom and pop’ shops but for many categories of small business ventures. The support makes entrepreneurs self-reliant and progressive.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to firstname.lastname@example.org