In this day and age, nearly everyone is interested in saving as much money as possible – particularly when it comes to taxes. The federal government offers one tax break that you may not be aware of: the roofing tax credit. Under this guideline, you can save as much as 10% of costs up to $500 for either a metal or asphalt roof. There are two other stipulations: the roof must be installed on your existing home, which must also be your principal place of residence. This means that newly constructed homes or rental properties don’t qualify for the credit. The current roofing tax credit is available through December 2013.
Which Roofing Materials Are Included
The Energy Star rating is one developed by the federal government to designate certain products that are proven to be energy efficient. Although choosing products with the Energy Star rating is always a good idea, not all of those products will qualify you for the roofing tax credit. In fact, only two types of roofing will make you eligible for the credit:
- Metal roofs with certain pigmented coatings and an Energy Star rating
- Asphalt roofs with cooling granules and an Energy Star rating
Talk to an experienced roofing professional for more information about the roofing tax credit. He or she can help you choose the appropriate roofing materials that might allow you to qualify for this federal government tax break, as well as which material is best for your home or business.
Source: Energy Star http://www.energystar.gov/index.cfm?c=tax_credits.tx_index
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