Which home improvements can save you money on your taxes?

Well, I had no idea that my little window upgrade could also save me some bucks come tax time!!  According to this Forbes magazine article, there are a number of improvements you can make to your home to improve energy efficiency that will save money come tax time.  Oh…and of course, they’ll save money on your bills too!!

So clearly, many of the things on this list most of us won’t be able to do such as install a wind turbine in our backyard.  However, I was extremely pleased to find out that with the Emergency Economic Stabilization Act of 2008 increased the credit from $200 to $500 for upgrading your old windows to new energy efficient ones.   Now if only that $500 tax credit could be put towards installing a new geothermal heating system…  I’d love to not have to pay so much money to the gas company each month!

Thanks to Charles & Hudson for pointing out the article!  I was planning on starting my taxes tonight!


2 thoughts on “Which home improvements can save you money on your taxes?

  1. Oh, I’d definitely prefer a larger tax credit. I’d also love to never have to make a payment to Philadelphia Gas Works ever again!! 🙂

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