Now that April’s here, the tax deadline is just around the corner! And while taxes aren’t anyone’s favorite time of year, you can take some of the sting out by making sure to claim any home heating and cooling upgrades you made over the last year.
Here’s how:
If you swapped out an old AC or heating system for some new, energy efficient models, Uncle Sam is ready to chip in on some of those costs.
Also, if you made any upgrades to your home’s insulation, air sealing, windows, doors, roofing, siding, or water heater, those could qualify for credits too! But how do you know if that new fandangled contraption you put in is going to qualify?
What’s eligible?
If you’re looking to get a tax credit for a new cooling system, it has to be an Energy Star central AC unit with a SEER rating over 16. The higher the SEER, the more efficient it is, so you’ll save more money in the long run on energy bills too.
For heat pumps, furnaces, and boilers, anything with the Energy Star tag is good to go.
There’s also credits for smart thermostats, insulation like blown-in wall insulation or radiant barrier, or air sealing doors and windows. And don’t forget water heaters! New faucets, toilets, washing machines too if they’re on the Energy Star list.
Now over the years, the fed has put limits on just how much they’ll chip in. For things like furnaces and AC units, you can get a 30% credit on each of the units, up to $1,200 for a complete system. For heat pumps though, you get 30% back up to a $2,000 limit! That’s one more reason to invest in a more energy-efficient heat pump system from Air Repair Pros.
So make sure to save those receipts and get what’s coming back to you! And don’t forget – you may be able to amend previous tax returns to catch any credits you missed!
In the meantime, for any of your AC needs, you can book an appointment online or give us a call at [csad_phone].
