Saturday, October 17, 2009
Get a write off on your taxes by upgrading your home
Upgrade your insulation, windows, doors, roofing, heating and air-conditioning system or water heater, and you could qualify for a federal tax credit for 30% of the purchase price of the product—up to a $1,500 maximum credit. The credits can be claimed on a homeowner’s income taxes for 2009 or 2010, whatever year the improvements were purchased. With a credit, the amount comes off any taxes you owe. The credit is nonrefundable, meaning it allows taxpayers to lower their tax liability to zero, but not below zero, according to the Internal Revenue Service. Read more: http://rismedia.com/2009-10-17/energy-savers-incentives-to-help-you-take-advantage-of-home-efficiency-upgrades
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