Impact of the Affordable Care Act

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Coverage or penalty?

That's the question for many small business owners in the wake of ObamaCare.

What it all means...

ObamaCare small business tax breaks and credits are available to cover ObamaCare small business cost increases.

While 96 percent of employers won't pay additional taxes, there is an increase to the current Medicare tax, paid by three percent of businesses.

According to Jill Parsons from the Chamber of Commerce of the Mid-Ohio Valley, there's just so much information to sift through.

"There are several different categories that the businesses need to be concerned about," Parsons says. "Do they have more than 50 employees and then of those employees or really any of your employees the classification right now in the Affordable Care Act language is that a full-time employee is anybody who works over 30 hours a week."

Parsons says there may be some bipartisan support to change the language back to 40 hours a week for a full-time employee.

She adds that it's being able to adjust your workforce so you either comply with the guidelines in the Affordable Care Act or face possible penalties.

We're continuing to follow the impact of the president's plan and we'll have more for you Thursday.

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