Looking to expand your small business in Nashville? It’s high time to look into all the financing opportunities available to you. The first thing to do is to consult your accounting firm and ask about your options, including tax incentives and grants offered by the federal and state governments to small businesses.
Here’s a quick look at some of these opportunities.
Tax incentives
- Small Business Health Insurance Premium Credit
This benefit is available to businesses with fewer than 25 FTE (full time equivalent) employees, and who paid an average of less than $56,000 per FTE in 2021. For a business to quality, they must be paying at least one-half of the insurance premiums of employees enrolled in a health plan offered by a Small Business Health Options Program Marketplace. The scheme works on a sliding scale — the fewer your employees, the higher the tax credits you may qualify for.
Read more from this blog: https://bit.ly/EvanH43
