Don’t miss taking advantage of home improvement tax credit…

Nov. 3, 2010 - PRLog -- When a home owner purchases energy saving items they can save in 3 ways. 1) They will save on home energy cost year round, 2) they will save with the tax credit of 30% of the purchase price up to $1500 total credit for all qualifying products, and 3) some manufactures are offering cash rebates.

These home improvements must have been put into service after January 1, 2009 through December 31, 2010. There are also tax credits for solar powered improvements and of hybrid and alternative fuel car purchases.  Go to the U.S Department of Energy website for specific details http://www.energy.gov/taxbreaks.htm.

A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. Consumers can itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government. Check with your CPA for specific filing rules.

Mary Beth Harrison, www.dallastexasrealestateblog.com

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Whether you are buying or selling a home in Dallas, or you are relocating to the Dallas area, the The Harrison Group is here to help.