BENGALURU: Tax Time strikes the fear in the hearts almost all of the business owners. If you are a small business owner then you would probably be aware of how your business gets taxed at the end of the every year. Tax period brings a great deal of complexity and confusion along with a severe headache as a bonus.

The government has been constantly changing and revising tax laws to ease the process for the tax payers. Entrepreneur.com has identified certain tax changes on which small businessmen must pay attention:

Small Business Medical Credit: The Affordable Care Act plays a significant role for a business tax payer’s agenda. ACA offers tax exemption to the employees on regards with the health insurance. This will benefit the employees thereby qualifying them for a tax credit. This will finally lead to offer health coverage for the low and middle income employers.

The credit can be claimed only for consecutive years, it is mandatory that the employee must cover minimum 50 percent of the premium to get qualified for the credit.

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