Did you know that you can qualify for tax credits when you install a new roof? Tax credits work in favor of homeowners, but it takes a lot of research to find out how. If you need to replace your old roof, you might qualify for some federal tax credits over the project costs.
Arry’s Roofing, one of the top East Lake, FL, roofers, explains how you can maximize your tax credits and get some money back on a roof replacement.
Roof Tax Credit Requirements
In order to qualify for federal tax credits, you should be able to meet the following criteria when getting a roof replacement:
- Installed a reflective roof, such as metal or asphalt designed to reduce heat gain
- Used ENERGY-STAR®-approved roofing coatings and granules
- The roof must come with a two-year warranty, at minimum
If you meet these requirements, you might get a 10% deduction from the total project costs or up to a lifetime $500 energy tax credit. However, keep in mind that labor costs aren’t covered by these credits. In addition, these only apply to roofs installed between January 2011 to December 2016.
This may not seem like much, but if you add up the deductions for your roofing in Tarpon Springs, FL, it can be beneficial to take advantage of federal tax credits. To claim your credits, simply fill out the IRS Form 5695 with your return.
Today, more and more homeowners are looking for ways to go green and reduce their carbon footprint. One way to achieve this is to get a roof replacement. When you use energy-efficient roofing options, such as metal and asphalt shingles, you can significantly reduce your energy consumption while improving your interior comfort. More importantly, you can qualify for tax credits and enjoy your investment for many years.
By looking at what your roof can do beyond providing a shelter for your family, you can use it to your advantage. Talk to professional East Lake, FL, roofing contractors, such as Arry’s Roofing, to learn more about roof tax credits today. Simply give us a call at (727) 938-9565 or fill out our contact form to schedule a FREE consultation. We’ll be happy to assist you.