With tax day approaching, have you checked out these potential tax deductions?
- Energy Efficient Upgrades, including Energy Efficiency Home Improvement Credit up to $3200; a home energy audit identifying health and safety issues in the home; Energy Star's exterior windows and skylights; biomass stove which has a thermal efficient rating of at least 75% to qualify for the credit.
- Clean Energy Upgrades, including the Residential Clean Energy Credit, including a solar water heater and geothermal heat pumps.
- Historic Home Upgrades, for the federal Rehabilitation Tax Credit for renovating a historic home, involving such items as pipes, stairs, posts and beams.
- Medically Necessary Upgrades, to qualify for a medical expense deduction.
- Home Office Repairs and Improvements, including wiring, security, dual and triple-pane windows, repairing damaged outlets.
- Rental Property Repairs, If part of the home is rented out, certain repair expenses may be deducted; repairing water leaks to avoid mold issues; repairing leaky ducts to prevent heat loss and improve air quality.
See the article below for more information:
7 Types of Tax-Deductible Home Improvements
Your tax professional will be able to give you complete advice on these and other possible tax deductions.
Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996
No comments:
Post a Comment