Installing new door may earn you tax credit

Installing new door may earn you tax credit

Making an energy efficient upgrade to your home won’t just save you money on utilities, it could also earn you a tax credit. The American Taxpayer Relief Act of 2012, approved on January 1st of this year, says that homeowners who made some type of energy efficient upgrade in 2012 or who plan to do so in 2013 can receive a federal tax credit for up to 10 percent of the cost of the upgrade.

Energy Star doors qualify for tax credit

If you didn’t make some type of upgrade in 2012, plan now to make one in 2013. One upgrade you might consider would be switching out your old front door for a new Energy Star qualified fiberglass door. The tax credit for a qualified door can be up to $500. Derek Fielding, senior product manager for Therma-Tru Corp, a manufacturer of fiberglass doors, said, "Fiberglass doors are some of the most energy efficient doors available in the marketplace today. Compared to a solid wood door, a fiberglass door has four times more energy efficient value."

Front doors impact curb appeal

And the benefits of a new door don’t stop there. Front doors can add or detract significantly from a home’s curb appeal, thus making a sizeable impact on the overall value of the home. Fielding explained that the front door isn’t the only one that could qualify you for a tax credit, however. Actually, "the really good news about this tax credit is that it qualifies for both replacement doors on a principle residence and for the installation of a new door in the home where there previously wasn’t an opening." This means that if you’re planning an addition to your home, getting an Energy Star door for the new section would qualify you for tax credit. 

Interior Decorating and Remodeling News Brought to You by EZSnapCovers.com

Source: http://www.homeimprovementtime.com/consumer/release_view.asp?ID=1170




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