2013 Energy Efficiency Credits for Homeowners from Home Improvements
Energy efficiency is more than a buzzword. It's a way of life for many of us. It's also a way to help your budget and ease your tax burden. If you could catch a break on next year's taxes for home improvements you make in 2013, would you consider some light remodeling? What if you were already planning a project, would you look into some of the more "green" options for the materials?
You may be able to claim an income tax credit of up to $500 next year, if you make some home improvements this year to make your home more energy efficient. The nonbusiness energy property credit has 2 parts to it:
- You may receive a 10% credit for the cost of certain energy efficient?building envelope components such as:
- exterior windows
- skylights
- doors
- metal roofs
- asphalt shingles
- You may receive limited credits for certain in-home appliances which meet energy efficient standards such as:
- advanced main air circulating fans
- furnaces
- water boilers
- water heaters (fueled by natural gas, propane or oil)
- electric heat pump water heaters
- electric heat pumps
- central air conditioners
- biomass fuel stoves
Another credit is available for installing qualifying residential solar energy equipment, geothermal heat pumps, small wind energy property and fuel?cell property.
Of course, it's a good idea to talk to a CPA about these credits, as AmeriFirst Home Mortgage is not a licensed tax advisor. We just know that homeowners like to save money and take it easy on the environment.
Now, if you'd like to know more about bigger home improvement projects, and paying for the work, download our free guide at the button below. "The Ultimate Guide to Home Improvement Loans" is a pretty short eBook to help you get ready for your remodeling wish list.
(creative commons photo credit)
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