What is the maximum tax credit available from the Disabled Access Tax Credit for eligible small businesses?

The maximum tax credit available from the Disabled Access Tax Credit for eligible small businesses is up to $10,250 for the taxable year. This credit is designed to assist small businesses in making their facilities accessible to individuals with disabilities, thereby promoting inclusivity and compliance with the Americans with Disabilities Act (ADA).

To qualify for this tax credit, small businesses must have gross receipts of $1 million or less or no more than 30 full-time employees. The credit is specifically aimed at covering a portion of the expenses incurred for making necessary modifications related to accessibility. The credit amount is calculated based on allowable expenditures, which can include a variety of accessibility improvements such as removing architectural barriers, acquiring adaptive equipment, and providing accessible transportation.

This substantial credit can significantly reduce the financial burden on small businesses that might otherwise struggle to meet accessibility requirements. The aim is not only to encourage compliance but also to promote an inclusive environment for all customers. The suggested figures in other options either misrepresent the credit or do not align with the actual guidelines established for the Disabled Access Tax Credit.