Question

1. Re-write the following paragraph using your own words.

• Tax Credits and Deductions are available to assist businesses with complying with the ADA, Section 44 of the IRS Code allows a tax credit for small business, and Section 190 of the enable a tax deduction for all business. The tax credit is available to businesses that have total revenues of $1,000,000 or less in the previous tax year or 30 or fewer full-time employees. This credit can cover 50% of the eligible access expenditures in a year up to $10,250 (maximum credit of $5000). The tax credit can be used to offset the cost of undertaking barrier removal and alterations to improve accessibility, providing accessible formats such as Braille, large print and audiotape; making available a sign language interpreter or a reader for customers or employees, and for purchasing certain adaptive equipment. The tax deduction is available to all businesses with a maximum deduction of $15,000 per year. The tax deduction can be claimed for expenses incurred in barrier removal and alterations.

Answer 1

Tax credits and deductions are applicable to facilitate businesses with complying with the ADA, section 44 of the IRS code grants a tax credit for small business and section 190 of the enable a tax deduction for all business. businesses with total revenue of $1,000,000 or less in the last tax year and thirty or less than thirty full-time employees can avail to the tax credit. fifty percent of the eligible access expenditures in a year are covered in this tax credit which can go up to $10,250. the tax credit can be used to balance the cost of undertaking barrier removal and alterations for improving accessibility, implementing formats like Braille, large tape and audiotape or accessibility of a sign-language interpreter or a reader for their customers. all businesses can account for the tax deduction with a deduction of $15,000 per year as its maximum limit. expenses that are aroused in the barrier removal and alterations can be claimed by the tax deduction.