Are you interested in making an improvement to your home that could earn you a federal tax credit at the same time? There are several improvements you can choose to make, but one of the most cost-effective options is adding insulation to your attic.
You can install the material of your choice by yourself and still qualify for the insulation tax credit. Of course, if you don’t have experience installing insulation, you should leave the process to knowledgeable professionals. Keep in mind, though, that the cost of installation is not included in the tax credit.
Until Dec. 31, 2011, you can claim 10 percent of the cost, or up to $500, on qualifying insulation materials. Standard bulk products qualify, including batts, rolls, rigid boards, blow-in fibers, pour-in-place and expanding spray insulation.
In addition to receiving the tax credit based on the insulation materials you purchase, you can add air-sealing products to your claim as well. Products including weatherstripping, canned spray foam, caulking and house wrap all qualify as long as they are accompanied by a Manufacturer’s Certification Statement.
To apply for the 2011 insulation tax credit, file IRS Form 5695 with your regular tax documents on or before April 15, 2012. The 2011 version of this form isn’t available yet, but when it becomes available in early 2012, be sure to fill it out properly. Also, include the tax credit from Form 5695 on your IRS 1040 tax form as soon as it becomes available. Save receipts and the Manufacturer’s Certification Statement with your tax records.
The choice to add insulation to your attic can provide you with significant energy savings this winter. For more information about the insulation tax credit, or to get started before the tax credit expires, contact Hansberger Refrigeration & Electricin Yuma today.
Our goal is to help educate our customers about energy and home comfort issues (specific to HVAC systems). For more information about tax credits and other HVAC topics, download our free Home Comfort Resource guide.
Hansberger Refrigeration & Electric Co services the Yuma area in Arizona. Visit our website to see our special offers and get started today!
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