Under IRS Section 44, The SmartCells® Therapy Mat qualifies for an ADA tax credit
Get Credit for Your ADA Compliance
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.
How The ADA Tax Credit Works:
For the SmartCells Therapy Mat, this means that when you purchase the mat for $3,500 (retail) you find your tax credit amount and final cost in this way:
$3,500 - $250 = $3,250
Step 1: Subtract the initial $250 that is not allowed to have the credit applied to it
50% of $3,250 = $1,625
Step 2: 50% of that amount is eligible to be claimed as a tax credit against your tax liability at the end of fiscal year
$1,625 + $250 = $1,875
Step 3: The remainder (plus the initial $250 that is not eligible for credit) is your actual cost -- 46% off retail!
How To Get Your Credit
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 the button below
NOTE: WE ARE NOT TAX ATTORNEYS. PLEASE CONSULT YOUR TAX ADVISOR TO VERIFY ELIGIBILITY.