Did you know you can receive government tax credits and manufacturer rebates for certain appliances, electronics, home improvements, remodels, and more? Continue reading to learn which company rebates and tax credits are currently available this year, and how you can qualify!
There are several ways you can qualify for more tax deductions and rebates, and they all involve your home! As a homeowner, you can qualify for specific tax credits this year by making changes to the interior and exterior of your house or property. Roofing, appliances, electronics, remodels, space conversions, lighting, and renewable energy sources are just the start of the possibilities!
Tax credits are regulated and set by the government, and intended to entice home owners to make improvements that conserve energy. Local, state, and federal tax credits exist for those who qualify, and are claimed during income tax season.
For instance, if you have your roof replaced with an Energy Star-certified material, such as asphalt shingles, you could receive a tax credit of 10% of the cost, up to $500. Or by adding an office space to your home, you could also qualify for certain tax deductions, as well as, certain manufacturer rebates on office furniture and equipment.
A Residential Renewable Energy Tax Credit is available for homeowners who remodel areas of their property with solar power, such as solar paneling for roofs, wind turbines, geothermal heat pumps, solar water heaters, and more. To discover which tax credits are available to you, go to the U.S. Department of Energy website.
If you install an energy-efficient appliance that is administered through a local utility company or an appliance manufacturer that works alongside the U.S. Energy Star program, you could receive a rebate from either party. Some local power companies have been known to offer rebates as high as $500 or $600 for Energy Star-certified installations. Appliances must be Energy Star-Certified in order to be eligible for the rebate.
Examples of appliances that make Energy Star-certified models include HVAC systems, home electronics, lighting, water heaters, refrigerators, freezers, dishwashers, washing machines, dehumidifiers, and air purifiers. Home improvement rebates may also be available for projects like windows, doors, skylights, insulation. To learn if you qualify for any rebates, go to the Energy Star website.