A Tax Credit GStirrup Owners are Missing Out On

You can receive a tax credit on the GStirrups because they improve access for patients with disabilities. It gives patients with neurological disorders a way to rest their legs securely in stirrups (Parkinson’s disease, multiple sclerosis, paraplegia, transverse myelitis, tremors, Tourette’s syndrome, stroke patients, lower extremity trauma patients):

There is a tax credit available if you make improvements to your office that increase access for individuals with disabilities or if you provide equipment that improves access for individuals with disabilities. The GStirrup provides this access. As with any tax credit, there are often limitations on how much of the credit you can take based on the your gross income. The credit is approximately 50% of the cost up to $10,000. Once the credit is calculated, how much of the credit you can take is based on your tax liability for the current tax year. If your income is too high then the credit is disallowed in the current tax year but it can be carried forward to the next tax year for several years until there is a point where your income will allow the credit deduction to be applied. Let your accountant know that this purchase applies to the Disabled (handicapped) Access Credit and should be included on the tax return as a business credit using form 8826 and form 3800.

Click here to download an unedited IRS Form 8826 to redeem your tax credit.
Click here to download an unedited IRS Form 3800 to redeem your tax credit.

August 14, 2016 Tax Incentives