As a small business owner, you may be looking to develop a new website that is ADA compliant to ensure accessibility for all users, including those with disabilities. However, you may also be concerned about the cost of making these updates. Fortunately, you can take advantage of the ADA tax credit to offset some of these expenses.
Here are some helpful tips for small businesses looking to take advantage of the ADA tax credit when hiring Netera Group to develop a new website that’s ADA compliant:
- Check your eligibility: The ADA tax credit is available to businesses with total revenues of $1,000,000 or less in the previous tax year or 30 or fewer full-time employees. If you meet these requirements, you can claim up to 50% of eligible access expenditures in a year up to $10,250 (maximum credit of $5000).
- Identify eligible expenditures: Eligible expenditures include the cost of undertaking barrier removal and alterations to improve accessibility, providing accessible formats such as Braille, large print, and audio tape, making available a sign language interpreter or a reader for customers or employees, and purchasing certain adaptive equipment. When working with Netera Group, make sure to discuss which expenses qualify for the credit.
- Keep accurate records: To claim the ADA tax credit, you will need to keep accurate records of your eligible expenditures. Make sure to keep receipts and documentation of all expenses related to improving accessibility on your website.
- Claim the tax credit: You can claim the ADA tax credit when filing your tax return using IRS Form 8826. You can also carry over any unused credit to future tax years.
- Consider the tax deduction: In addition to the tax credit, all businesses can also claim a tax deduction for expenses incurred in barrier removal and alterations. This deduction has a maximum of $15,000 per year.
In conclusion, taking advantage of the ADA tax credit can help offset some of the expenses associated with developing a new website that’s ADA compliant. When working with Netera Group, make sure to discuss which expenses qualify for the credit and keep accurate records of all eligible expenditures. With careful planning and documentation, you can make your website more accessible and take advantage of the tax benefits available to your small business.