Many homeowners may be focusing on their taxes now, and we would certainly like to help you make the most of home improvements. Homeselfe, a home energy assessment app and web service for homeowners, recently released a list of significant tax credits available to individuals who made energy efficiency upgrades for their homes while in the 2015 tax year.
Surprising tax credits for homeowners
“If you upgraded your own home in 2015 by adding insulation, probably the most cost-effective upgrades you possibly can make, you already know you are saving on your utility bills each and every month – plus you may well be eligible for a tax credit on that investment,” said Ameeta Jain, co-founder and spokesperson of Homeselfe.
This company says homeowners can earn up to $500 on their return by taking into account small upgrades made last year, including:
Biomass stoves
Heating, ventilation, and air conditioning
Advanced main air-circulating fans (tax credit amount of $50)
Insulation (10 percent of the cost, as much as $500)
Roofs (metal and asphalt)
Water heaters (non-solar earns a tax credit of $300)
Windows, doors and skylights (tax credit amount is 10 % of the cost excluding labor)
Homeselfe created flowcharts along with other information to help homeowners determine whether they qualify for energy-related tax credits.
“Not taking advantage of (qualified energy-efficient upgrades) is totally wasting your hard-earned cash,” says Jain. “We want to empower families to receive the maximum refund allowed for their income tax returns by supplying them insight into the energy credits that are available.”
If you would like to start off getting prepared for 2016 tax year and earning some tax credits by purchasing your new home in the Tampa Bay Area. Nick & Cindy Davis are here to assist you. We can always be reached at 813-300-7116 or simply click here so we can get started working to help you find your new home.