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TAX SAVING FOR 2006
SECTION 44-DISABLED ACCESS TAX CREDIT AVAILABLE ON ALL COMFORT CRAFT BODYWORK TABLES
Click
here for a downloadable copy of
Tax Form 8826 (Disabled Access Credit)
A disabled access credit may be available to professionals
acquiring the Comfort Craft Bodywork Table, because
the table provides access to handicapped and wheelchair using individuals
by its ability to adjust to a height below 19”. This TAX CREDIT
is applied to your Federal Income Tax at the time of your annual
filing.
EXAMPLE:
You purchase the Comfort Craft Bodywork
Table, Model 800, for $5,100 not including shipping. Your
tax advisor agrees that the expenditure meets the requirements of
the Section 44 credit, assuming you are in the 28% tax bracket.
The cost of the table to you is as follows:
| Retail price for Model 800 |
$5100 |
| Section 44 minimum |
-
$ 250 |
| |
=
$4850 |
| Multiply by 50% (.50) |
x $ .50 |
| Tax credit available from Section 44 |
$2425 |
| |
|
| Section 179 Deduction (normal equipment write off)
|
|
| Amount available from Section 44 |
$2425 |
| Multiply by 28% (.28) (your tax rate) |
x
$ .28 |
Amount you will receive back from your taxes
|
$3174 |
| Your table cost you, after taxes: |
$1926 |
The credit is available according to Section 44
of the Internal Revenue Code. To qualify, the professional’s
practice must meet the following requirements:
- Annual Gross receipts of the practice do not exceed $1,000,000,
or
- The practice employs no more than 30 full-time employees
during the taxable year before the taxable year in which the
credit is elected.
- The equipment cannot cost less than $250 and cannot cost
over $10,250.
Remember to consult your tax advisor to make sure you
qualify!
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