Tax Credits Available for Certain Energy-Efficient Home Improvements

ABA Tax Accounting – The IRS would like you to get some credit for qualified home energy improvements this year. Perhaps you installed solar equipment or recently insulated your home? Here are two tax credits that may be available to you:

1. The Non-business Energy Property Credit -  Homeowners who install energy-efficient improvements may qualify for this credit. The 2011 credit is 10 percent of the cost of qualified energy-efficient improvements, up to $500.

2. Residential Energy Efficient Property Credit This tax credit helps individual taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, solar electricity equipment and wind turbines.

Not all energy-efficient improvements qualify so be sure you have the manufacturer’s tax credit certification statement, which can usually be found on the manufacturer’s website or with the product packaging.

If you have any questions about this or preparing any tax returns for prior years or for the 2012 filing season, please contact us:

ABA Tax Accounting

Amare Berhie, Senior Tax Accountant

amare@abataxaccounting.com

Direct 612-282-3200

Toll free 866-936-0430

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