Tax Credits for Energy-Efficient Home Improvements


We've noted before that buying things like hybrid cars and solar energy systems can save you cash on your taxes, but there are lots of other ways to knock a few bucks off your taxes with smaller, less-costly home upgrades that offer tax credits, thanks to the Energy Policy Act of 2005. For example, you can claim 10% of your cost, up to $500, for adding insulation (like the trio we just featured that's expected to last at least five years or has a two year warranty. Skylights, exterior windows and storm windows will also net you a 10% (up to $200) rebate, and the list goes on to include qualifying metals roofs, central air conditioning, furnaces and hot water heaters and more. Check out Energy Star's matrix of tax savings, and take note that many expire at the end of next year. If home improvement is in your future (or in the recent past, and you have your receipts), be sure to take advantage of the program that'll save you money, energy and a little bit of the planet as well. ::Energy Star via ::Motley Fool and ::Hugg (linton)

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