It’s tax season! Co-founder of Homeselfe, Ameeta Jain, talks to Allyn Hoang on Eye Opener TV about maximizing your tax refund this year.
Many Americans don’t realize they can write-off energy efficiency upgrades they have made to their home throughout the year.
The IRS has a form used to apply for tax credits called 5659. There are two types of tax credits that deal with energy efficiency upgrades you may have made to your home last year:
- The Residential Energy Efficiency Property Tax Credit is for homeowners using renewable energy like:
- Solar panels
- Water heater
- Geothermal heat pump.
- If you’ve made more simple changes to your home, you’re going to want to know about the Nonbusiness Energy Property Tax Credit, which applies to smaller upgrades like:
- Energy efficient skylights
- New energy efficient doors or windows
Keep in mind that anything you are trying to get a tax credit for has to be Energy Star Certified.
On top of saving yearly with tax credits, you can save an additional 30 percent on your utility bills every single month by taking a Homeselfe! The app shows you small, practical changes you can make to your home that will make a big difference in your wallet every month.
Homeselfe is a free, do-it-yourself home energy audit app that will take you through your home, prompting you with easy questions. Within five minutes, you’ve got yourself an instant report that gives you a money-saving plan on how to cut your utility bill.
It’s a great way to save money and be environmentally friendly!