If you are thinking about doing a home remodel this year, there is a new tax incentive to go energy-efficient! As part of the fiscal cliff deal, there is a $500 tax credit for doing certain energy-efficient home improvements. The credit is 10% of the cost of materials for insulation, roofs, and exterior windows and doors that meet Energy Star requirements. Also included are credits for central air conditioners, heat pumps, furnaces, and corn-fueled stoves. Each item has a limit on the tax credit available towards that item. Remember, a tax credit is dollar for dollar, unlike a tax deduction.
Read full article here Fiscal Cliff Deal Helps Homeowners Pay For Green Remodeling