The 2010 tax season may be just behind us but it is never too soon to start thinking about tax credits for next year. The 2011 energy tax credits for your Liberty Hill home are down from last year,
but there are still some out there. Washington may be giving less than before to Leander homeowners for going green, but there are still numerous energy tax credits that you can take advantage of.For 2011 you can claim up to $500 in federal energy tax credits for various different home improvements.
If you are looking to take advantage of these tax credits here are some ways.
Heating, Ventilation and Cooling Systems:
You are eligible for $50 for any advanced main air-circulating fan. How about a $150 credit for any qualified natural gas, propane, or oil furnace or hot water boiler. There is also a $300 credit for any item that the IRS has deemed a quality energy-efficient building property. Examples would include certain electrical and geothermal heat pumps, new central air systems, natural gas, propane, or oil water heaters.
The instillation of more insulation in your home can help in both cold and warm weather. In 2010, Washington was offering up to $1,500 in tax credits, but now you would be eligible for up to $500 total for all energy improvements in which the adding of insulation is included. It is very important to keep all receipts for tax purposes.
The installation of the roof is not eligible for a tax credit but certain roof materials are. Only specially manufactured roofs, as listed on the Energy Star site, are eligible.
Non-Solar Water Heaters:
The installation of an energy star rated water heater is eligible for up to $300 in energy tax credits. There are a wide variety of water heaters that are eligible and can be found on the Energy Star website.
Windows and Doors:
For doors that meet energy star guidelines you are able to deduct up to $500 in tax credits. Windows and skylights you can only claim up to $200 in credits total, not per window.
Contact the Shane T. White Team if you are looking to buy or sell your home. Discover what it is like to work with a team with a real passion for real estate. Contact us today at (512) 515-LAND (5263). We are here for you to help you buy or sell real estate near Austin in the Liberty Hill area, including Leander, Georgetown, Cedar Park, and Bertram.