19 Dec Tax Credits For Making Your Home Energy Efficient
As winter closes in, the chill that you feel in the air could very well turn into cold hard cash in your pocket! On December 31, 2011, federal tax credits for energy efficiency are set to expire. So, as you buy those last minute gifts and sip on eggnog, why not explore opportunities to improve the energy efficiency of your home? Not only will you see some dollars on April 15th (up to a maximum of $500), but these upgrades promise to save you money for years to come:
1. Windows: By replacing drafty, single-pane windows with models that
insulate better against the elements, you can save up to $200 on your taxes.
2. Insulation: Whether it’s attic or wall insulation, weather stripping for
your doors or windows, or expanding foam to fill voids, up to 10% of the
cost can be reimbursed by way of tax credits.
3. Doors: Up to a 10% tax savings.
4. Heating & cooling systems: Tax credit of up to $300.
5. Main air circulating fans: Up to $50 worth of tax credits are available.
Before you tick away the final moments of 2011, check with your tax advisor and visit Alliance to Save Energy’s website for program requirements and suggestions: http://www.ase.org. Who knows: by improving your home’s efficiency, you might also find a few extra dollars to finance this year’s festivities!