Tuesday, May 19, 2009

Tax Credits for Current Homeowners

With all the hoopla surrounding new homeowners and the (up to) $8,000 tax credit, there's been little coverage about tax credits for existing homeowners. If you are upgrading your home this year, you qualify for a tax credit for specific things that make your home more energy efficient.

So what qualifies? The list follows this paragraph, but keep in mind that the tax credits are NOT dollar for dollar. In fact, some of the upgrades are much more expensive than typical replacements, so you won't receive the same dollar amount in credits that you spend on energy efficiency.


Adding Insulation

Replacing Windows

Replacing Doors

Installing a new A/C

Replacing the Roof

For more information on the tax credit categories, click HERE. And for more specifics about the credits, contact your CPA or tax advisor, or check www.irs.gov.

Contact Jack Jernigan if you want to hire a full-time professional real estate agent who can give you knowledgeable advice on getting your home sold. Jack also works with buyers and is a savvy negotiator who can get the price, terms and conditions acceptable to you.

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