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Tax Credit Consulting: Americans with Disabilities Act Compliance Rocky Mount NC

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.

Liberty Tax Service
(866) 871-1040
1356 Raleigh Rd
Rocky Mount, NC

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Jackson Hewitt
(252) 985-5878
222-A Fairview Rd.
Rocky Mount, NC

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H&R Block
(252) 451-1729
1561 BENVENUE RD
ROCKY MOUNT, NC

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Liberty Tax Service
(866) 871-1040
2115 Forest Hills Rd W
Wilson, NC

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Mr. Harvey R. Alter (RFC®), CEP, CSA, MBA
(973) 265-2862
117 Shenandoah River Dr
Hertford, NC
Qualifications
Education: mba
Years of Experience: 33
Membership
IARFC, NICEP
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Asset Protection, BuySell, LiabCover, Compensation Plans

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H&R Block Inside Hunter Hill Shopping Center
(252) 443-9233
1457 HUNTER HILL RD
ROCKY MOUNT, NC

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Liberty Tax Service
(866) 871-1040
309 N Fairview Rd
Rocky Mount, NC

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1ST CHOICE T & P SERVICES(TAX & PROPERTY)
(252) 907-4456
BLACKSTREET
TARBORO, NC
 
Jackson Hewitt
(252) 237-5152
401 Lillian Rd
Wilson, NC

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Mrs. Mary T. Moose (RFC®), CSA, RFP
(704) 857-4924
603 N. Main St
China Grove, NC
Company
Victory Wealth Management, Inc.
Qualifications
Years of Experience: 13
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Education Plan, Healthcare Accounts, Charitable Fo

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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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