“Going Green” Tax Credits To Expire In 2013
By Lynne Adkins
PHILADELPHIA (CBS)–With the end of 2013, several environmentally friendly tax credits expire including those for fixing up the house, according to Jeff Kim a CPA in Bala Cynwyd.
“These energy improvements are limited to primary residences, so improvements on rental homes, vacation homes and second homes are not included in this credit. Buyers of high efficiency furnaces, air conditioners and water heaters, storm doors, windows and certain kinds of roofs can get the credit,” Kim says.
He explains that credit is for 10-percent of the cost up to $500 lifetime total.
You can also get a credit for buying an electric vehicle and get a large credit for installing such items as solar roof panels and geothermal heating systems, but that credit won’t expire until 2016.