With the reality of the new health care law slowly setting in across the country, small businesses are making plans to protect themselves from the most onerous provisions.Some small businesses are making plans to cut workers hours to 30 hours a week. Or, pass the costs on to customers through a surcharge. Still others say they won’t grow their business at all. Now the Wall Street Journal reports that some companies are looking at splitting their companies into separate entities to stay below the magical 50 employees threshold. Under the Affordable Care Act, businesses with 50 or more full-time equivalent employees will be required to offer workers health insurance or potentially pay a penalty starting in 2014.
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Bedford, VA 24523
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- New 20 percent deduction for passthrough businesses Many owners of sole proprietorships, partnerships, trusts and S corporations can deduct up to 20 percent of their qualified business income.
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