Planning your financial future when managing a disability can feel overwhelming—but it doesn’t have to be. At Key2 Accounting, we believe that smart tax preparation can transform your financial outlook. Whether you’re managing your own disability, caring for a child with special needs, or running a business that supports inclusivity, there are significant tax benefits waiting to be unlocked. Ready to discover how expert accounting consultants can help simplify the process? Read on to learn how you can maximize your tax benefits and secure a brighter, more empowered future.
For Individuals with a Disability
Living with a disability presents unique challenges—and unique opportunities when it comes to tax preparation. There are several tax benefits designed to ease your financial burden:
Additional Standard Deduction:
If you are legally or partially blind, you may qualify for an increased standard deduction. For joint filers, this extra deduction is $1,600 per eligible individual, while unmarried filers receive $2,000 (figures for 2025, adjusted annually). This benefit can lower your taxable income without the hassle of itemizing.
Exclusions from Gross Income:
Certain disability-related payments, such as those from the Department of Veterans Affairs (VA) and Supplemental Security Income (SSI), can be excluded from your gross income. This simple adjustment in your tax preparation can make a big difference in your overall liability.
Impairment-Related Work Expenses:
For those who are self-employed, expenses like attendant care or workplace modifications necessary to work may be deductible. Although these deductions were suspended for employees through 2025, self-employed individuals may still benefit. Our accounting consultants can help clarify which expenses qualify.
Medical Expenses and Home Modifications:
Medical expenses, including treatments, therapies, and even home modifications like ramps or widened doorways, can be deducted if they exceed 7.5% of your adjusted gross income. These deductions not only help you manage costs but also improve your quality of life.
Retirement Savings Contributions:
Contributions to an ABLE account might qualify you for the Saver’s Credit, offering up to $1,000 (or $2,000 for joint filers) in nonrefundable tax relief. This credit is a great way to support long-term financial security while benefiting from tax preparation strategies tailored to your needs.
Each of these benefits is designed to provide you with tax advantages that ease the financial strain. With expert guidance from Key2 Accounting, you can ensure that every eligible benefit is captured on your return.
For Parents of a Child with a Disability
Caring for a child with a disability comes with both emotional and financial challenges. Fortunately, there are several tax benefits that can help alleviate some of that burden:
Claiming Dependents:
If your child is permanently and totally disabled, you can claim them as a dependent regardless of age. This simple step can make a significant difference in your overall tax liability.
Adoption and Child Care Credits:
Parents who adopt a child with special needs may be eligible for an adoption credit of up to $17,280 (2025 figures). Additionally, if your child requires specialized care, you may qualify for the Child or Dependent Care Credit—even if they are older than 13—ensuring you receive support for necessary care expenses.
Earned Income Tax Credit (EITC):
Families can benefit from the EITC, which for 2025 offers up to $4,328 for one child, $7,152 for two, and $8,046 for three or more children. Even if your child is disabled, you can claim the full benefit if all other criteria are met.
By tailoring your tax preparation strategy to include these benefits, you can better manage your family’s expenses and focus on what matters most.
For Businesses Accommodating Persons with Disabilities
Creating an inclusive workplace not only benefits your employees and customers—it also offers tax advantages:
Disabled Access Credit:
Small businesses that incur expenses to improve accessibility, such as installing ramps or modifying restrooms, may be eligible for a tax credit designed to offset these costs.
Barrier Removal Tax Deduction:
Businesses can deduct up to $15,000 for expenses related to removing physical and structural barriers. This deduction supports your commitment to creating an accessible environment while reducing your taxable income.
Work Opportunity Tax Credit:
Hiring individuals from underrepresented groups, including those with disabilities, can qualify your business for additional tax credits. These incentives help you build a diverse workforce and benefit from lower tax liabilities.
By incorporating these credits and deductions into your tax preparation plan, you can transform accessibility improvements into tangible financial benefits.
How Key2 Accounting Can Help
At Key2 Accounting, our dedicated team of accounting consultants is here to streamline your tax preparation process for business owners. Our comprehensive services include:
- Personalized Consultations: We tailor our approach to your unique situation, ensuring that you benefit from every available tax advantage.
- Local Expertise: With offices in Fort Collins and Hawaii, we understand local tax nuances that can impact your overall financial strategy.
- Integrated Services: From bookkeeping and payroll to accounting consulting and CPA services, we offer a holistic approach that keeps your finances optimized year-round.
Our mission is to give you confidence in your financial future by simplifying complex tax rules and uncovering every potential tax benefit available to you.
Get Reliable Tax Preparation Services
Smart tax preparation is about more than just reducing your tax bill—it’s about paving the way for a secure and empowered future. Whether you’re navigating personal challenges, supporting a loved one, or leading a business, maximizing tax benefits can transform your financial landscape.
Are you ready to unlock these opportunities? Contact Key2 Accounting today for a personalized consultation. Let our team in Fort Collins, Hawaii, and beyond guide you through a streamlined, effective tax preparation process that turns challenges into financial benefits.
