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Tax Credit Consulting: Americans with Disabilities Act Compliance Hobbs NM

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.

Mrs. Natalie Voskresensky (RFC®), MBA
(505) 858-2443
2 Juniper Hill Rd NE
Albuquerque, NM
Company
PLAN RIGHT, LLC
Qualifications
Education: MBA, Accounting Concentration
Years of Experience: 13
Membership
IARFC
Services
Invoice, Business Planning, personal Coach, Retirement Planning, Tax Returns, Employee Benefits, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Auto Home Insurance, Asset Protection, LiabCover

Data Provided by:
H&R Block
(575) 546-1060
1021 E PINE ST
DEMING, NM

Data Provided by:
Zia Tax Svc
(575) 541-6171
1125 N Solano Dr
Las Cruces, NM

Data Provided by:
H&R Block
(575) 628-8896
2401 S CANAL ST
CARLSBAD, NM

Data Provided by:
Income Tax Express NM
(505) 288-9955
3730 Coors Blvd NW, Ste E
Albuquerque, NM
 
Max Leach (RFC®), CLU, RFP
(505) 344-2255
10308 Candelaria NE #345
Albuquerque, NM
Qualifications
Education: BS
Years of Experience: 16
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, BuySell, LiabCover, Compensation Plans

Data Provided by:
Max Baca Income Tax & Bkpg Svc
(505) 242-4470
1201 Bridge Blvd SW
Albuquerque, NM

Data Provided by:
H&R Block
(575) 524-0370
1300 EL PASEO STE K
LAS CRUCES, NM

Data Provided by:
H&R Block
(575) 472-2627
132 S 5TH ST
SANTA ROSA, NM

Data Provided by:
Electronic Transmissions
(505) 301-8932
2633 Bridge Boulevard Southwest
Albuquerque, NM
Hours
Sun 07:00 AM-06:00 PM;Mon 07:00 AM-05:00 PM;Tue 07:00 AM-05:00 PM;Wed 07:00 AM-05:00 PM;Thu 07:00 AM

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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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