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Like most people, you probably don’t look forward to tax season. However, I have some good news for you that might make that time of year just a little brighter for you! Did you know that you can actually save money on your taxes just by using “green” eco-friendly products when doing home improvement projects? Well, it’s true, and I will be more than happy to share some tips and tricks with you on how you can go about doing this!
Have you and your family always wanted a hot tub or swimming pool? If so, I think you will be pretty excited about what I have to tell you! If you were to install either a hot tub or swimming pool at your home that is powered by solar energy, you can receive a tax credit of up to 30% of what you spent on that! Well, technically, you would only get up to a 30% credit if you spent no more than $2,000 on your pool or hot tub. If you spent over $2,000 on it, the maximum tax credit you’d be entitled to would be capped at $2,000. Either way though, I am sure you would agree that it’s a great deal!
Does your roof need replacing? If so, I would highly encourage you to look into replacing it with a metal Energy-Star roof. Doing this will not only make your home look great, but you can also receive up to a $500.00 tax credit for doing this! Replacing your exterior doors is another way to give your home a great new look, and if you install eco-friendly ones can also net you a $500.00 tax credit.
Have you been thinking about possibly installing some skylights in your home? If so, you will be happy to know that doing so can get you a tax credit of up to $200.00, just as long as they meet certain “green” standards.
You can also receive tax credits just by changing the type of cooling and/or heating systems that you use in your home! For example, by installing an eco-friendly air conditioning unit and/or a “green” oil or propane water heater, you can receive a tax credit of up to $300.00!
Best of luck to you, and I hope that you are able to use the tips that I provided to help you save a lot of money on your taxes!
About Author William Donegan is the president of Merrimack Building supply Inc.
Merrimack Building Supply is a distributor for commercial and residential building products since 1985. They have established distribution centers at NH, ME, MA & CT.
www.merrimackbuildingsupply.com
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Need More Tax Savings? Go For Green Products
