HOW IT WORKS:
According to the ADA, eligible small businesses may take a tax credit of up to $5,000 (half of eligible expenses up to $10,250, with no credit for the first $250) to offset their costs for access, including new accessible equipment purchases.
* It is important to note that this is a tax credit against your full liability, not just a tax deduction.
For the SmartCells Therapy Mat, this means that when you purchase the mat for $2,995 (retail) you find your tax credit amount and final cost in this way:
1. Subtract the initial $250 that gets no credit applied to it.
$2,995 – $250 = $2,745
2. 50% of that amount is eligible to be claimed as a tax credit against your tax liability at the end of your fiscal year.
50% of $2,745 = $1,372.50
3. The remainder is your actual cost of the SmartCells Therapy Mat (plus the initial $250 that is not eligible for credit)
Your Final Price: $1,372.50 + $250 = $1622.50! (46% OFF RETAIL!)
4. If utilizing this credit, you could buy 3 SmartCells Therapy Mats in one calendar year and it would only cost you
$4,867.50 vs. the retail value of $8,985!
Note: No other deductions or credits are permitted for any amount for which a disabled access tax credit is allowed. The maximum allowable tax credit is $5000 per calendar year.
For more info on this tax credit CLICK HERE
HOW TO KNOW IF YOU’RE ELIGIBLE:
The Law States – Small businesses with (1) 30 or fewer employees in the preceding tax year or (2) Total annual revenues of $1 million or less in the preceding tax year can use the Disabled Access Credit.
For more information and the form needed to claim this ADA Tax Credit, CLICK HERE
* WE ARE NOT TAX ATTORNEYS. PLEASE CONSULT YOUR TAX ADVISOR TO VERIFY ELIGIBILITY.