HEALTH INSURANCE TAX CREDIT

To qualify for the tax credit, there are two basic requirements that must be met:

  • The church must pay at least 50% of the medical insurance premium for employees.
  • The plan must be offered (but not necessarily accepted) to all full time employees.

To determine if your church qualifies for the Health Insurance Tax Credit, the following information will be needed (download the form here):

DATA FOR HEALTH INSURANCE TAX CREDIT

Number of full-time ministers 

Number of full-time employees (non-ministers)

Number of part-time ministers (hours per year)

Number of part-time employees (non-ministers)(hours per year)

Medical insurance premiums paid by church     $

Medical insurance premiums paid by employee via payroll deduction  $

 

Payroll data from your Forms W3 and W2s sould enable us to see if your meet all requirements for this tax credit.  We have to calculate the FTE (Full Time Equivalency) for this credit.

tom@burbrink.com

Posted under Health Insurance

This post was written by burbrink on January 9, 2014

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