Energy Tax Credits, Energy Savings, & More
It’s that time of year in New Jersey where it’s dark and cold, snowy and rainy. However, the middle of the day can warm up your office or home pretty nicely to make you briefly turn on the air conditioning. Cracking your window open might be steady enough to avoid using heating and cooling units in these days of transition. This is a constant reminder of the energy-efficient home improvement tax credit that was in effect in 2013. If you had qualifying energy upgrades to your home in 2013, you could be eligible for a tax credit upwards of $500. If you didn’t take advantage of the home energy tax credit before 2014, you would normally be out of luck unless Congress agrees to keep them longer. There’s a chance that the tax credit could be reinstated for 2014 since the Senate Finance Committee approved a bill to renew most extenders. The Expiring Provisions Improvement Reform & Efficiency Act would continue as it did in 2013. EXPIRE would include all roof products that meet Energy Star program guidelines in the tax credit’s eligible improvements list. If you’re deciding to improve your home’s energy efficiency and haven’t claimed your credit, make sure to see what options you qualify for. If the tax credit is approved through 2014 and 2015, make sure to take advantage of this offer. For updates, tips, and additional information, follow us on Twitter: @MeyerAndDepew.