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Wednesday, March 2, 2016

Tax Credits for Homeowners

Homeselfe, a home energy assessment app and web service for homeowners, recently released a list of several significant tax credits available to those who made energy efficiency upgrades to their homes in the 2015 tax year.

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, up to $500)
  • Roofs (metal and asphalt)
  • Water heaters (non-solar earns a tax credit of $300)
  • Windows, doors and skylights (tax credit amount is 10 percent of the cost excluding labor)
Homeselfe includes flowcharts and other information to help homeowners determine whether they qualify for energy-related tax credits.

Source: Daily Real Estate News, Homeselfe http://www.homeselfe.com/home-energy-tax-credits/