Financing
Tax Credits And Deductions
Disabled Access Tax Credit
(IRS Code, Section 44)
This tax credit is available to eligible small businesses in the amount of 50% of "eligible access expenditures" that exceed $250 but do not exceed $10,250 for a taxable year. A business may take the credit each year that it makes an eligible access expenditure. You should consult your accountant for more information.
Eligible small businesses are those businesses with either:
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$1 million or less in gross receipts for the preceding tax year; or
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30 or fewer full-time employees during the preceding tax year.
Example: Purchase eligible equipment for $7,095. The amount this exceeds $250 is $6,845. Fifty percent of $6,845 is $3,423. You may take a tax credit in the amount of $3,423 on tax return.
Purchase Price: $7,095
Expenditure: ($250)
Subtotal: $6,845
50% Tax Credit: $3,423
Net Cost after Tax Credit: $3,672
Tax Deduction
(IRS Section 179)
Section 179 of the IRS Code allows a tax deduction for all businesses. The tax deduction is available to businesses with a maximum deduction of $15,000 per year. The tax deduction can be claimed for expenses incurred in barrier removal and alterations. You should consult your accountant for more information.
Disabled Access Credit
The Disabled Access Credit is a non-refundable credit for small businesses that have expenses for providing access to people with disabilities. An eligible small business is one that earned $1 million or less or had no more than 30 full-time employees in the previous year. Small businesses claim the 50% credit for eligible access expenditures by filing Form 8826, Disabled Access Credit. The business can claim the credit each year they have access expenditures. For details on access expenditures, see Form 8826. You should consult your accountant for more information.
Payment Options
Check/Credit Card
You can purchase your table with check or credit card for the total amount. We accept all major credit cards. We do require payment or approved credit card prior to shipping.
Lease
You can purchase your tables by a lease purchase through a lease/finance company of your choice. The lease company will work directly with you and provide firm rates, terms, options, etc. We require a purchase order from the leasing company prior to shipping.
Contract Payments
Upon credit approval, you can pay approximately 40% of your total price and make payments on the balance over four months in four equal payments that are interest free (if paid on schedule) – all directly through Softec. All payments by check or credit card. Softec would send you a contract to outline the payment amounts and due dates. We require the signed contract and the down payment prior to shipping.
