Johns Island Resists Charleston, SC Real Estate Market Tumble

As property values in Charleston and the surrounding cities tumble, they stay remarkably strong on Johns Island

Summerville, SC (PRWEB) April 21, 2009 – February home prices for existing homes fell 16 percent in the southern states, according to the National Association of Realtors. While prices are remaining low throughout the country, some areas are seeing slight rebounds, but this is not the case in the south.

Once popular cities like Charleston, SC are seeing prices for homes continue to plummet amidst this economic crisis. As people wait to see what the government stimulus and bailout plans will bring, houses sit on the market longer and longer, with lower and lower prices. As more houses are placed on the market, the market becomes saturated with available properties, and this pushes the selling price even lower as buyers are tempted to bring extremely low offers.

While Charleston is one of the harder hit areas in this real estate slump, its close neighbor, Johns Island, has not been hit in the same way. Johns Island is the fourth largest island on the east cost, but it maintains a relatively low population density. Part of the reason for the small population is the fact that the island has been isolated from the mainland for most of its history. It was not until the recent addition of modern bridges connecting the two that people could come and go freely form the island. This small population means there are more marsh front and water view properties on Johns Island than on the mainland and surrounding islands.

Homebuyers who are looking to escape the downward cycle of Charleston real estate are looking to homes on Johns Island. Johns Island real estate includes a number of upscale properties that are gaining popularity among homebuyers. The area is popular both for its rustic feel and the fact that it is located near the Seabrook and Kiawah Island golf resorts.

When asked about current interest in the island, Ben Wiese of MovetoJohnsIsland.com said, “We have Johns Island relocation packets flying out the door.” This local visitor’s authority went on to say, “People are realizing capital gains in real estate aren’t a guarantee like we thought in the 90s and are looking to future-proof their next home purchase.”

Many who move to Johns Island come from Charleston, which is just five minutes away. While the commute into the city from the island is no longer a challenge with the addition of modern roads connecting the two, finding Johns Island real estate is not always easy. The island has few large neighborhoods like those found in Charleston, because the residents have kept zoning rules tight in order to preserve their rural, rustic lifestyle.

The Johns Island relocation packet offered by MovetoJohnsIsland.com is a helpful tool for those interested in snagging a historic, upscale home on the island that seems to be immune to the roller coaster ride of the current real estate market. Charleston homeowners who move to homes on Johns Island may take a loss on their existing properties, but they will be upgrading to a home that will likely retain and increase its value far into the future.

New Understanding of Tax Credits Make It Easier for Businesses to Conform to the Americans with Disability Act Standards

Small Business Tax credit available for those conforming to ADA Standards

The disabled access credit rewards businesses for conforming to ADA requirements

Summerville, SC (PRWEB) April 20, 2009 – The Americans with Disabilities Act (ADA) has created quite a stir among small business owners. In order to comply with the ADA, they must purchase expensive equipment or make costly changes to their business locations, requiring money that many do not have due to the current economic state. A tax credit for these purchases is available, but lack of understanding has caused many business owners to resist claiming it.

One confusion surrounding this credit is the fact that the IRS has not yet issued rules or regulations regarding it. The credit is available, but many business owners are unsure about whether or not their purchases qualify.

The Internal Revenue Service, in an attempt to clear up some of the confusion about which products and purchases qualify for tax credit, recently issued a Technical Advice Memorandum. In this document, the IRS states that any purchases that qualify for a tax credit, known as the Disabled Access Credit, must have been made for the primary goal of assisting handicapped individuals.

Specifically, Code Section 44 of the ADA allows certain small businesses to take an income tax credit for expenses they incurred in order to comply with the act. Businesses can claim 50 percent of all “eligible access expenditures” that are more than $250 but less than $10,250.

In order for a purchase to qualify as an eligible access expenditure, it must first be made in order to comply with ADA requirements. Second, it must be reasonably necessary to fulfill this need. This two-part test is the only way to determine whether or not a purchase qualifies, and no company or government agency is allowed to certify or guarantee that a particular product meets the provisions of the tax credit.

Small medical practices bear the brunt of the financial strain created by the ADA. Medical equipment designed for individuals with handicaps is incredibly expensive. This potential tax credit promises to make it much easier for doctors, dentists and other medical and health professionals to make their care more accessible for handicapped patients.

Haag Streit is a company that provides medical practice equipment and instruments. Many of their products have been modified help handicapped patients, specifically those bound to wheelchairs, gain access to the care they need. For instance, they offer a Chair Glide, a device that modifies an existing medical or dental chair so that it can slide back in order to accommodate those in wheelchairs. Small medical practices can purchase these products to comply with the requirements of the ADA. Under current understanding of he tax credit, the entire cost for these types of products can be applied to the Disabled Access Credit.

Dennis Berman, OPT and spokesperson for Haag Streit, commented, “I’m excited. This new memo and possible tax break could be minor ‘bailout package’ for many small practitioners who want to make every effort to help patients with physical challenges, but have been limited by recent financial stresses.”

Only a qualified tax professional can fully determine whether or not a purchase qualifies for the Disabled Access Credit, so business owners who want to take advantage of this legislation need to contact their tax professional before making any purchases.