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Tax Credit Consulting: Americans with Disabilities Act Compliance Olathe KS

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.

Jason Black
9308 Mohawk Lane
Leawood, KS
Company
Title: President
Company: Evimero Wealth Management
Type
Registered Investor: Yes
Education
Kansas State University/Bachelors of Science Business
Years Experience
Years Experience: 17
Service
Wealth Management,Annuities,Long-Term Health Care Planning,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,CD Alternative,Life Insurance,Investment & Portfolio Management,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Individual Income Tax Planning,Disability Insurance,Retirement Planning,Investment Consulting & Allocation Design,Insura

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Jackson Hewitt
(913) 768-9829
16559 W 151 Street
Olathe, KS

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McAuley & Crandall PA
(913) 239-9130
13200 Metcalf Ave Ste 130
Overland Park, KS

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H&R Block
(913) 884-4495
1725 E SANTA FE ST
GARDNER, KS

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Marks Nelson Vohland Campbell Radetic LLC
(913) 498-9000
7701 College Blvd., Ste. 150
Overland Park, KS
 
Olathe Block Llc
(913) 764-3494
825 E Kansas City Rd
Olathe, KS

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Jackson Hewitt
(816) 984-5256
13507 W 87th Street Parkway
Lenaxa, KS

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Barber Financial Group
(913) 393-1000
13550 W. 95th St.
Kansas City, MO
 
Liberty Tax Service
(866) 871-1040
1819 E Santa Fe St
Gardner, KS

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JK Harris&Company Tax Representation Firm-Call Now
(800) 621-0536
7500 W. College Blvd, 5th floor
Overland Park, KS

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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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