Pick Up Tax Credits on Home Upgrades Before Winter

August 21, 2013

Energy efficient renovationsNew Chicago real estate owners can enjoy some big tax benefits by giving their homes upgrades, and in doing so now can also make for a more comfortable rest of the year – after all, winter is coming. Energy efficient

tax rebates are a great win-win offered by the federal government, as you save on materials on your taxes and save every month with lower energy costs.

For instance, the Non-Business Energy Property Credit has up to $500 once a lifetime for energy efficient upgrades. This includes replacing insulation, roofing and doors, or adding double-paned windows. This credit gives 10% back on what you spent as long as it meets specific energy standards and be accompanied by the manufacturer’s credit certification statement.  There’s a real reason to step up on this one in addition to wanting to get it in before winter: the credit expires at the end of this year. Now is the time to leap on this one!

Another important tax break on bigger projects, and offers up to 30 percent off on solar hot water heaters, solar electric equipment, wind turbines, and more. These are big budget items, so the tax rebate may go over your tax liability and carry over to future years. This credit is around a while longer, and expires in 2016.

For more ways to save money with everything from planning for retirement to monthly budgeting, check out the

Equifax Finance Blog today. Also make sure to Like Us on Facebook for frequent, easy money management tips!

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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