Business owners always think about cutting costs. They have the belief that they will spend more when they employ and accommodate more people with disabilities, but that assertion is incorrect.
Do you know, that as a small business owner you may be eligible for three federal tax incentives by just employing and accommodating people with disabilities at your workplace? Businesses owners who employ and accommodate people with disabilities have access to Disabled Access Credit, Architectural Barrier Removal Tax Deduction and Work Opportunity Tax Credit.
Disabled Access Credit, a non-refundable tax credit, was specifically developed to incentivize businesses that accommodate workers with disabilities. Businesses that promote disability employments and has annual turnover of $1 million or less in gross receipts with no more than 30 employees are eligible for the Disabled Access credit. The credit serves as the cost of improving access to business by removing physical barriers, provision of appropriate communication support or other equipment.
Removal of architectural and transportation barriers for accessibility and mobility can help a business qualify for a $15,000-per-year tax deduction under the Architectural Barrier Removal Tax. This deduction incentive is made available to all businesses that remove architectural and transportation barriers.
When business owners employ people with disabilities, veterans and ex-felon into their workforce, they qualify for a Work Opportunity Tax Credit, the credit ranges from $1,200 to $9,600, depending on the employee hired and their length of employment.
There are a lot of benefits in hiring people with disabilities, owners of small businesses choose not to, because they don't know about the basic benefits.
"In addition to the 3 tax benefits, business owners do report an average return of $28.69 in benefits for every dollar they spend on accommodating people with disabilities," The US Department of Labor Job Accommodation Network (JAN) said. "About 60 percent of business owners recently discovered that there was no cost associated with the accommodation needed for their new hires with disabilities."