The tax filing deadline is quickly approaching. If you own a home, here are some important residential tax saving incentives you should not miss:
Residential Energy Tax Credits
- Residential Energy Efficient Property Credit - Taxpayers may take credit up to 30% of qualified solar, wind, geothermal and fuel cell property improvements. This includes labor costs to assemble, build, and connect the equipment. The credit is capped at $500 per one-half kilowatt of capacity purchased.
- Non-Business Energy Property Credit - Taxpayers may take credit for 10% of the qualifying costs to improve energy-efficiency for non-business property. Qualified improvements include adding insulation, energy-efficient windows/doors, or energy-efficient heaters and