How To Lower Your Taxes With Upgrades

When you prepare your 2013 taxes, you can use your recent home improvements to get energy-efficiency tax credits. In addition to helping you lower your energy bills, energy-efficient products eligible for the new federal tax credits actually lower the amount of federal income taxes that you pay.

Eligible home improvements

Exterior windows including skylights and storm windows

Insulation, exterior doors and roofs

Central air, heat pumps, furnaces, hot water boilers, water heaters, advanced main air circulating fans or biomass stoves

How to claim your credit

Your tax preparer can help determine your credit. There is a cap of $500 for fiscal years 2006-2013 combined. You will need to keep receipts to provide proof of purchase and have a copy of the manufacturer’s certification for the product you purchased. If you file taxes on your own, you will need to file IRS Form 5695 with your taxes.

 

How to lower your taxes with upgrades.
How to lower your taxes with upgrades.
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