Plan-related expenses are typically tax deductible to your company, but half may qualify as tax credits instead (subject to certain limitations). There are five steps for calculating available credits:
The result step #5 is your tax credit for the year, subject to a minimum credit of $500 and a maximum credit equal to the result from step #3. Phew.
You could break down the five steps to calculate your eligible credits, or you can download DWC's free tax credit calculator and take the messy math out of the equation.
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