Tax Credits Available for Certain Energy-Efficient Home Improvements

ABA Tax AccountingThe IRS would like you to get some credit for qualified home energy improvements this year. Perhaps you installed solar equipment or recently insulated your home? Here are two tax credits that may be available to you:

1. The Non-business Energy Property Credit –  Homeowners who install energy-efficient improvements may qualify for this credit. The 2011 credit is 10 percent of the cost of qualified energy-efficient improvements, up to $500. 

2. Residential Energy Efficient Property Credit This tax credit helps individual taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, solar electricity equipment and wind turbines. 

Not all energy-efficient improvements qualify so be sure you have the manufacturer’s tax credit certification statement, which can usually be found on the manufacturer’s website or with the product packaging.  

If you have any questions about this or preparing any tax return for prior years or for the 2012 filing season, please contact us:

ABA Tax Accounting

Amare Berhie, Senior Tax Accountant

amare@abataxaccounting.com

Direct 612-282-3200

Toll free 866-936-0430

www.abataxaccounting.com/CustomJ.htm

Advertisements

The URI to TrackBack this entry is: https://abataxaccounting.wordpress.com/2012/03/07/tax-credits-available-for-certain-energy-efficient-home-improvements/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: