Tax season is currently swinging into high gear, and our fellow residents of Southern California are scrambling to collect their paperwork, locate receipts, and file their returns before the upcoming April deadline. If you haven’t taken advantage of the government’s offer to help offset the costs associated with energy-efficient home improvements in 2015, don’t worry! Once again, Uncle Sam has extended the residential energy credits through the end of this year, which means if you did not qualify for these credits by making energy-efficient improvements to your home in 2015, there is still time to replace windows, doors, and skylights of your home while realizing significant tax savings before these credits expire at the end of this year.
If you have been considering replacing the windows in your home, now is a great time to get started. Not only can new windows raise the overall value of your home, they can also help to increase its curb appeal, while making your home more energy-efficient.
This increased energy efficiency can payoff financially in two ways. The first way is obvious. Energy-efficient windows help keep the heat of summer and the chill of winter out of a home, which will help reduce one’s power bill. The second way energy-efficient windows can pay off is at tax time. Many people do not realize that the addition of energy-efficient windows to an existing home (not new construction) may allow a homeowner to claim up to $200.00 worth of residential energy credits. In order to qualify, replacement windows must be ENERGY STAR certified and must be installed in a taxpayer’s primary residence.
For more information about claiming residential energy credits, we would suggest consulting a tax professional. For more information about replacement window benefits, contact us today! Our team is waiting to hear from you!