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Tax Credit Consulting: Americans with Disabilities Act Compliance Hattiesburg MS

Many small businesses complain when confronted with the expense of complying with the Americans with Disabilities Act. Most do not realize that there are a number of tax incentives available to offset the costs. Importantly, one tax incentive comes in the form of a tax credit, which is far more valuable than a tax deduction when it comes to creating tax savings.

Angie Newton Tax Service
(601) 336-6210
2242 Oak Grove Road
Hattiesburg, MS
 
Burke, Jack F Jr CPA
(601) 264-1988
2010 Oak Grove Rd Bldg 3
Hattiesburg, MS

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Liberty Tax Service
(866) 871-1040
1000 Broadway Dr
Hattiesburg, MS

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Liberty Tax Service
(866) 871-1040
1637 Pass Rd
Biloxi, MS

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Jackson Hewitt Tax Service
(601) 939-1224
3047 Highway 80 E
Pearl, MS
 
Jackson Hewitt
(601) 268-3811
6111 US Hwy 98
Hattiesburg, MS

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Jackson Hewitt
(601) 268-3004
3801 W 4th Street
Hattiesburg, MS

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Holland's Tax Service
(601) 582-4349
424 Highway 42
Petal, MS

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Jackson Hewitt
(601) 731-3060
150 S High School Ave
Columbia, MS

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H & R Block
(601) 825-7772
1450 W Government St Ste C
Brandon, MS
 
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Tax Credit Consulting: Americans with Disabilities Act Compliance

Small Business Tax Credit - Americans with Disabilities Act

Many small businesses complain when confronted with the expense of complying with the Americans with Disabilities Act. Most do not realize that there are a number of tax incentives available to offset the costs. Importantly, one tax incentive comes in the form of a tax credit, which is far more valuable than a tax deduction when it comes to creating tax savings.

Disable Access Tax Credit

If you make your small business accessible to persons with disabilities, you can take an annual tax credit. Your business is eligible if you earned one million or less the previous year or had 30 or fewer employees. If you meet this test, you can claim a tax credit of 50 percent of your expenditures to a maximum of $5,000. Since this is a tax credit, it is deducted from your total tax liability.

To claim this tax credit your expenditures must be paid or incurred to enable your business to comply with the Americans with Disabilities Act. Expenditures might include:

  • Purchase of adaptive equipment or modification of equipment;
  • Production of print materials in alternate formats such as Braille or audio; and
  • Sign language interpreters for employees or customers.

Modifications to buildings or offices also qualify as long as two criteria are met. First, the modifications cannot be construction of something new. Second, the building must have been in service prior to November 5, 1990.

All businesses can take a tax deduction for expenditures incurred to remove physical, structural or transportation barriers for disabled individuals in the work place. This tax deduction carries no restrictions in regard to revenues earned or number of employees. Businesses may claim up to $15,000 a year as a tax deduction. Expenditure amounts exceeding this amount may also be claimed, but are subject to depreciation calculations.

To claim the barrier removal tax deduction, your expenditures must be related to making a facility or...

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