Business Tax Recovery Logo


Tax Deduction Consulting: Parking Spaces Brigham City UT

Most business deductions are those items that are the expenses of doing business. The words ordinary and necessary are often used to determine the validity of a business expense. There are many local, State, and Federal laws and regulations that require handicap access and parking. Any expense that is incurred by a business in the fulfillment of these requirements and to comply with the law would, naturally, be a necessary expense.

Mr. Gregory W. Williams (RFC®), CFP, CHFC, CLU, LUTCF, MSFS
(801) 453-2271
6340 South 3000 East, Suite 500
Salt Lake City, UT
Company
Exit Strategy Specialists, LLC
Qualifications
Years of Experience: 26
Membership
IARFC, MDRT, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Education Plan, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Synergy Accounting Solutions
(801) 542-0230
8282 S. State St. Suite
Midvale, UT
 
H&R Block
(801) 334-4002
5845 E AVE BLDG 412
HILL AFB, UT

Data Provided by:
SC ACCOUNTING TAX SERVICES LLC
(801) 652-8755
408 S 900 W SLC - UT 84116
SLC, UT
 
H&R Block
(801) 223-9766
1549 N STATE ST STE 102
OREM, UT

Data Provided by:
Mr. A. Wayne Margetts (RFC®), LUTCF
(801) 532-1871
175 S Main St, Ste 1050
Salt Lake City, UT
Company
LPL
Qualifications
Education: BSc (Math)MBA
Years of Experience: 16
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Liberty Tax Service
(866) 871-1040
366 S 500 E
Salt Lake City, UT

Data Provided by:
Gardner Tax & Accounting
(435) 656-8291
32 E 100 S
St George, UT
Hours
M-F 8 am - 5 pm

Data Provided by:
H&R Block
(801) 262-0758
4871 S STATE ST
MURRAY, UT

Data Provided by:
H&R Block
(435) 462-2785
750 S STATE ST
MOUNT PLEASANT, UT

Data Provided by:
Data Provided by:

Tax Deduction Consulting: Parking Spaces

Tax Deduction for Parking Space

Is there a tax deduction for making a parking space? Surprisingly the answer to this question is yes. It is part of the Governments program to improve accessibility for the disabled.

The Federal tax deduction program has the rather long and unwieldy name of the Federal Tax Deduction for the Removal of Architectural and Transportation Barriers to People with Disabilities and the Elderly. There are also certain tax credits on both the Federal and State level that encourage this same idea. A tax deduction for a parking space might not make perfect sense for a pure profit and loss point of view. This is what makes this kind of business deduction subject to special consideration.

Most business deductions are those items that are the expenses of doing business. The words ordinary and necessary are often used to determine the validity of a business expense. There are many local, State, and Federal laws and regulations that require handicap access and parking. Any expense that is incurred by a business in the fulfillment of these requirements and to comply with the law would, naturally, be a necessary expense.

The idea of special deductions is to encourage actions by the business that go beyond the scope of the requirements and the law. Any activity like increased handicap parking and architectural changes to buildings to enhance accessibility that go above what is needed and required would also be tax deductible. The ability to reduce taxes by doing something that is in the best interest of the company is something that should provide much incentive that can only result in improvements in the area of handicapped accessibility.

In recent years enforcement of the laws that apply to handicapped parking and accessibility has become stricter and enforcement has followed suit. It is not in any company's best interest to ignore this issue and this has made the expense of compliance a very normal and necessary business expense that im...

Click here to read the rest of this article from BusinessTaxRecovery.com