Tag Archives: tax incentives

Coming Down to the Wire to Save on Green Home Upgrades

Tax credits for green upgrades expire soonWe are down to the last few days to save on taxes by purchasing energy-efficient upgrades, so don’t delay. The tax experts at the Equifax Finance Blog point out just what it takes to earn the

federal tax credits and offer more great tips, as well!

On December 31, the legislation that gives homeowners a federal tax credit expires so be sure to go out and purchase any energy efficient windows, water heaters, air conditioners, heat pumps and insulation before then. Many cities and states also offer tax credits to homeowners who make energy-efficient home improvements, such as dual-paned windows, solar-powered systems and tankless water heaters. Just like the federal tax credit, you don’t need have everything installed, but you do need to make the purchase before the year ends and let Uncle Sam finance your future energy savings.

These upgrades can make your home both look and feel better, but also save you on month–to-month upkeep and, if you are considering upgrades for putting your home on the market in 2014, can add to your curb appeal. After all, homebuyers love saving money and will value your investment to help them decrease energy costs. Best of all, upgrading now rather than waiting means you get to enjoy the savings, too!

The full article, “

Five Real Estate Tax Tips You Should Know Before 2014” has many more ways you can save on your 2014 taxes, but you better act fast! The Equifax Finance Blog has more information about how to go green and save green, as well as key information on credit scores, retirement planning, budget balancing and much more.

Go Green and Get Help from Uncle Sam

Green upgrades on ranch homeWith winter fall and winter around the corner, much of the country will be looking at rougher weather as cold approaches and a real test of their home’s energy efficiency. Generally, costs of living rise and new problems are discovered, with everything from weight of leaves exposing roof leaks to frigid winds exposing airflow issues. This is why it’s an important time to look into efficiency upgrades, and as the new article on the

Equifax Finance Blog points out, you can enjoy savings on taxes and monthly utilities by choosing the right upgrades.

If you are looking for strictly efficiency upgrades, you can save up to $500 before the end of this year on replacing insulation, roofing and doors, or adding double-paned windows that meet specific energy standards and be accompanied by the manufacturer’s credit certification statement. You can receive a credit for 10 percent of the cost of the upgrades, up to the $500 limit. In other words, if you spend $5,000 on improvements, you can get $500 back with the Non-Business Energy Property Credit.

If you have bigger projects in mind, you can save more – up to 30 percent – on power systems that are environmentally-friendly. So if you are looking at installing a solar water heater, solar electric harvesters, wind turbines, geothermal equipment or similar modifications to your home, the Residential Energy Efficient Property Credit is for you. This one ends in 2016, so you have a little more time to take advantage of it and plan accordingly.

For more ways to save on taxes, take advantage of ways to improve with green building and avoid

identity theft, check the Equifax Finance Blog!

NAHB Encourages Congress to Promote Energy Efficient Building

ENERGY STAR is your resource for information on Energy EfficiencyThe National Association of Home Builders is trying to help increase the amount of green building in the nation by taking it to our lawmakers. They recently approached Congress with an idea on how to promote residential energy efficiency and sustainability technology by extending tax incentives for new energy-efficient homes. Currently builders who construct a home certified to achieve a 50% reduction in energy use are eligible to receive a $2,000 tax credit, but this credit is set to expire at the end of the year. Real estate industry professionals have been trying to encourage Congress to extend it, and there is currently pending legislation in the House and Senate but no agreement between the two chambers. Without the tax incentive, many new builders may cease producing green new homes, which will be a tremendous set back in the strides we have taken in progressing with the green building industry. If the benefits of building green do not outweigh the costs, Continue reading