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Each year, businesses and individuals look to find the best tax credits and deductions to limit their tax burdens. This year, there is an expanded premium tax credit for 2022. Jeff Badu is a professional business tax consultant working in Chicago, Illinois . He stays on the pulse of the new laws and changes on the tax laws on the federal and state level. He has particular interest in the premium tax credit. The benefits include an increased amount of assistance through 2025 for certain taxpayers at a particular level above the poverty line. The employer-sponsored coverage affordability test in the tax credit is also modified through 2025. There is also a portion for Social Security benefit payments when dealing with the credit. Low income employees who have health coverage can also claim the credit. The health coverage credit, set to expire in 2022, is extended permanently. “A good bit of this information does not make sense to those who are not familiar with business, taxe...