Tax consequences of the proposed capital improvements

Dan DeRose (333 East Shore Drive, Wyckoff, NJ 07481), one of your clients, owns two retail establishments in downtown Wyckoff and has come to you seeking advice concerning the tax consequences of complying with the Americans with Disabilities Act. He understands that he needs to install various features at his stores (e.g., ramps, doorways, and restrooms that are handicapped accessible) to make them more accessible to disabled individuals. Dan asks whether any tax credits will be available to help offset the cost of the necessary changes. He estimates the cost of the planned changes to his facilities as follows. Dan reminds you that the Oak Street store was constructed in 2003 while the Maple Avenue store is in a building that was constructed in 1912. Dan operates his business as a sole proprietorship and has approximately eight employees at each location.

Write a letter to Dan in which you summarize your conclusions concerning the tax consequences of the proposed capital improvements.

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