We at the depotexpo.com are always looking for information to help our customers save money. So it is with this mind set we come today to explain to you how you can get a home owner tax credit from the US Government home improvement tax credit and better tax deductions programs. The Federal Government is now providing major tax deductions for home owners that decide to make improvement in their homes that will be good for the environment.
Home improvement tax credits are not very challenging for a home owner to take advantage of. If you are able to increase the energy efficiency of your home, you will be qualified for these tax deductions. However, to qualify for this home improvement tax credit, the work has to start on January 1, 2009, through December 31, 2010. Moreover, this has to be for your primary residence,
A home owner will be able to claim a maximum total amount of $1,500 for all products and services placed during the year to make their home energy efficient. There are products that are not part of the $ 1,500 cap. These products will stay in the government program until the year 2016 for home owners to take advantage of, with tax deductions. There products are : geothermal heat pumps, solar water heaters, solar panels, fuel cells, and small wind energy systems.
http://www.depotexpo.com wants to remind you to claim your entire home improvement projects in the year in which, you have made them. Basically, home improvements made in 2009 should be claimed on your 2009 taxes and should be filed no later than April 15, 2010. If you are in the process of building a new home, you can take advantage of the program until the end 2016 and that covers many great items you can use to make your home energy efficient.
The Federal Government home improvement tax credit consists of tax deductions on Energy Efficient items, which includes:
Home Owner Tax credit for existing homes is available at 30% of the cost, up to $1,500, in 2009 & 2010. With these tax deductions you can replace your old Windows and Doors, Insulation, Roofs, Air Conditioner, Water Heaters
Home owner tax credit for new homes will be available at 30% of the cost, through 2016 these tax deductions are for existing homes & new construction and they will cover, Geothermal Heat Pumps, Solar Panels, and Solar Water Heaters with Small Wind Energy Systems and fuel cells. The good news is, a home owner will get 30% of the cost without a cap until 2016.
These are some exciting programs for home owners to take advantage of. http://www.depotexpo.com will continue to strive to find great information that will benefit you as a home owner. However, we always recommend checking with your tax attorney or accounts to see how you can fully take advantage of these home improvement tax credit and tax deductions.
Home Improvement Tax Credit