Comfort Craft, Inc.
Tax Savings for 2009
SECTION 44-DISABLED ACCESS TAX CREDIT AVAILABLE ON ALL COMFORT CRAFT BODYWORK TABLES
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 $5,550 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 $5550
Section 44 Minimum -250
$5300
Multiply by 50% (.50) -$2650
*Tax Credit Available from Section 44 $2650
Section 179 Deduction (Normal Equipment Write off)
Model 800 price $5550-$2650(amount available from section 44)
=$2900 X .28(**tax rate)= +812
Amount You Will Receive Back from your Taxes for Table Purchase $3462
Your Table Cost You, After Taxes $5550-$3462= $2088
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!
**The Tax Rate can vary from 15% to 38% it is based on what tax bracket you are in. |
