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Take advantage of tax credits to stretch home improvement dollars

by Carla Griffin on May 30, 2013

Warm weather heralds home improvement season.    It’s also the season of high electric bills as air conditioners hum to life in response to rising temperatures across the country.

What better way to get money back than to save on your taxes?   A host of energy-efficient home improvements are eligible for federal tax breaks.   You may also find your state or local government, or local utility company, has programs to reward homeowners who make energy-saving upgrades.

Here are some facts about energy efficient upgrades and available tax credits:

  • The federal government offers tax credits for qualified improvements in five categories, according to EnergyStar.gov:     biomass stoves; heating, ventilation and air conditioning; insulation; metal and asphalt roofs; non-solar water heaters; and windows and doors.    The credits are only available when you make qualified improvements to your primary residence and they are set to expire on December 31, 2013.
  • Energy Star rates products for their efficiency but not all products will qualify for at a tax credit.   Check out EnergyStar.gov for a complete list.

You should always consult a tax professional if you have questions regarding eligibility.

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