AID TO DISABLED AMERICANS (ADA) TAX CREDIT
Please refer to your tax advisor for current up-to-date details on tax advantages including the example listed above. Chiropractic Consignment (OmniChiroTables.Com) cannot begin to interpret tax laws or advise anyone how to utilize the tax codes.
ADA Tax Credit Example
An example is provided on how you can save money by the sale of your existing equipment and taking advantage of the ADA tax credit. Let’s just say you are considering the purchase of a new table or Used Table. Suppose you own a Zenith Model #210 that you purchased for $1,245 back in 1973, and you could now sell that table as is for $800. You want a brand new Zenith Thompson table with 4 pneumatic drops, air compressor, and all the other bells and whistles, with a cost of $12,507. Here is how it works:
Since the new Zenith is a Hylo it qualifies for the ADA tax credit, with this scenario you would qualify for a tax credit of $5,000. See the breakdown below.
$10,250 - $250 min x 50% = $5,000 (This is a TRUE Dollar per Dollar Tax Credit versus a Depreciation Deduction)
$12,057 - $5,000=$7,057Actual Cost $7,057 x 31% US & 8% state income tax = $2,752 in additional tax savings!
Even better you can use the NEW Zenith table for about 5 years and resell it for about $7,200. You could make around $3,700, and use those earnings towards the purchase of a new table.
Disabled Access Credit Tax Example*
An example is provided on how you can save money by the sale of your existing equipment and taking advantage of the ADA tax credit.
| Section 44 Disabled Access Credit | Section 179 Expense Election | |
| Purchase Price |
$12,500
|
$12,500
|
| IRS "Floor" |
-$250
|
 |
| Eligible Cost |
$12,250
|
|
| Maximum Credit |
$10,000
|
|
| Smaller of Purchase Price or Maximum Credit |
$10,000
|
|
| Disabled Access Credit Percentage |
50%
|
|
| Disabled Access Credit |
$5,000
|
|
|
|
||
| Remaining Tax Basis |
$7,500
|
|
| Section 179 Expense Election Saves (assumes 35% Tax Rate) |
$2,625
|
$4,375
|
|
|
|
|
| Net, After Tax Cost of New Equipment Purchase price less Disabled Access Credit and Section 179 Deprication Savings |
$4,875
|
$8,125
|
So why wait! Make the most out of your used table and the tax savings available to you and purchase your chiropractic table today!
DOWNLOAD THE IRS TAX FORM BY CLICKING THE PICTURE BELOW.
