Be More Efficient With Energy, Get a Deduction

light bulb on top of money Did you invest in making your home more energy efficient last year? If so, you may qualify for a tax credit.

If you bought new insulation, doors, windows and/or roofing that improved the efficiency of your home, you may be able to get a credit of up to 10% of your costs. If you went really green and installed some serious energy savers such as solar panels or installed a wind turbine, you may get a credit for up to 30% of the installation costs.

As a bonus, if you traded in the gas guzzler for a hybrid or electric vehicle, you may be able to claim that purchase as well.

To make these deductions, you’ll need to file form 5695 with the IRS. We’ll be more than happy to take care of that for you to make sure you get all of the deductions you have coming to you—as well as making sure you don’t take deductions you’re not allowed to.

Do you have the support you need to manage your small business bookkeeping? Contact us to schedule an appointment to speak with a local small business advisor.