Tax Savings With Home Improvements

TAX SAVINGS WITH HOME IMPROVEMENTS? Looking to do some year end home projects? If you are you may qualify for tax credits.  Also, contractors might not be so busy during the holiday season making them easier to reach. Windows, doors, roofs, even appliances and HVAC systems are included in the list.  Projects only qualify on your principal residence and must be completed by December 31, 2010.

Check out this useful link to see what tax credits are available for your home improvement projects. A note of caution here: over the years many different variations of a scheme to encumber your house with a lien for improvements have been offered. Sometimes these are city or county programs sometimes they are offered through other organizations. Be careful about this. If you are planning to sell these programs can complicate the sale of your home or in some cases kill your chances for selling.

Don't forget to check with your city, county and even energy suppliers to see what programs, credits or rebates they may have for you.  For example many water companies will help you design a water saving landscape plan and gas companies will offer a free check up for gas appliance efficiency. Another option is to check out what appliances you could replace for newer more efficient models that come with a rebate. Sometimes these rebates are offered at the store or through your electric company.

For a more information on the projects most likely to increase the value of your home feel free to contact Michael.