|
Tax Credits and Deductions*
To assist businesses with complying with the ADA,
Section 44 of the IRS Code allows a tax credit for small
businesses and Section 190 of the IRS Code allows a tax
deduction for all businesses.
The tax credit is available to businesses that
have total revenues of $1,000,000 or less in the previous tax
year or 30 or fewer full-time employees. This credit can cover
50% of the eligible access expenditures in a year up to $10,250
(maximum credit of $5000). The tax credit can be used to offset
the cost of undertaking barrier removal and alterations to
improve accessibility; providing accessible formats such as
Braille, large print and audio tape; making available a sign
language interpreter or a reader for customers or employees, and
for purchasing certain adaptive equipment.
The tax deduction is available to all businesses
with a maximum deduction of $15,000 per year. The tax deduction
can be claimed for expenses incurred in barrier removal and
alterations.
This is informational only and not
intended as tax advise. Please check with you tax advisor prior
to spending money on improvements.
*Source: U.S. Small Business
Administration
|
