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Your purchase of pool lift products may qualify you for a special tax incentive on your tax return. These tax
incentives are available to individuals and businesses that incur expenses to accommodate the needs of someone who is disabled.
The Internal Revenue Service lets you deduct in full, as medical expenses, any home improvements and purchases made
to accommodate someone in the family who is disabled. These include:
Entrance or exit ramps to the house
Widened doorways and entrances or exits to the house
Railings, support bars, or other modifications installed in bathrooms
Lowered or modified kitchen cabinets or equipment
Moved or altered electrical outlets and fixtures
Installation of porch lifts or other forms of lifts
Modifications to stairways
New handrails and grab bars, whether or not in bathroom
Changes to hardware on doors
Alternations to areas in front of entrance and exit doorways
New grading on your property to provide access to the home
Note: If you're claiming expenses as medical deductions, you can deduct only the amount of your expenses that exceed
7.5% of your adjusted gross income.
These deductions must be itemized separately with appropriate documentation (receipt), and totaled on the "Medical
and Dental Expenses" portion in Schedule A of your annual income tax return (Form 1040). Please speak with your Accountant or qualified
tax preparer for more information on how to take advantage of this benefit.
Businesses
Two tax incentives are available to businesses to help cover the cost of making access improvements. The first is a Disabled Access
Credit that can be used for architectural adaptations, equipment acquisitions, and services such as sign language interpreters. The
second is a tax deduction that can be used for architectural and transportation adaptations
Disabled Access Credit Small businesses qualify for the Disabled Access Credit if they meet one of
the following criteria:
Had revenues equaling less than $1,000,000 for the previous tax year
Have 30 or fewer full-time employees
The amount of the tax credit is equal to 50% of the eligible access expenditures in a year that exceed $250 but are
not more than $10,250. Thus, the maximum allowable credit is $5,000. The credit can be used to cover a variety of expenditures including
barrier removal, providing interpreters, and the purchase of adaptive equipment (such as our Aquatic Lifts or VitaGlide) or modifying
equipment. These expenses must be associated with required adaptations to existing facilities. To apply, you must fill out the Disabled
Access Credit form (form 8826) and provide appropriate documentation in your tax return. Please speak with your Accountant or qualified
tax preparer for more information on how to take advantage of this benefit.
Tax Deduction
The tax deduction allows a business of any size to expense up to a maximum of $15,000 per year of items that normally must be
capitalized (depreciated). This deduction may be used for expenses associated with the removal of architectural or transportation
barriers in association with a trade or business that complies with applicable accessibility standards. Please speak with your
Accountant or qualified tax preparer for more information on how to take advantage of this benefit. Small businesses can use these
incentives in combination if the expenditures incurred qualify under both the tax credit and tax deduction. For more information
regarding these programs for small businesses, please visit http://www.ada.gov
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