One good result from the end of the year fiscal cliff hanger is an extension of the residential energy tax credit.
If you haven’t used it in the past, all the way back to 2006, there is a $500 tax credit for material costs of certain energy efficiency measures done to your home.
The American Taxpayer Relief Act extended the tax credit through 2013, making it retroactive from January 1, 2012. This means last year counts as well.
10% of the cost of materials, such as insulation, exterior windows, and doors that meet Energy Star requirements, can be used. Credits for window expenses are limited, as are AC units and furnaces, so a combination of improvements will help maximize what you can get, just perfect for home performance work on your home.
Check out http://www.irs.gov/ for more information. Or see the entire American Taxpayer Relief Act of 2012 here. Ask us we can help!