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Take an Energy Credit

 Federal tax credit

The IRS reminds taxpayers that certain energy credits are still available. If you haven’t already taken advantage of them, this may be the year to make energy-efficient improvements to your home.

You may be entitled to a credit of 10% of the cost of certain energy-saving improvements such as insulation, windows, doors, skylights, and roofs. The credit has a maximum lifetime limit of $500; the credit for windows is limited to $200.

Not all energy improvements qualify, the IRS cautions taxpayers, so be sure you have the manufacturer’s credit certification statement (usually available with the product’s packaging or on the manufacturer’s website).

For assistance with this or other tax or accounting matters please contact us at 201-947-8081 or 646-688-2807, or email us at info@bergencountycpa.com.

 

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