Home Tax Credit For Renovating Your Roof – Things You Should Know

Tax credit forroofing your home

Tax Credit for Roofing Your Home

Replacing a roof may be one of the more difficult aspects of home or property ownership, but getting a tax credit the following year for that replacement is actually relatively easy to do.  Whether done through an online service or done by a professional, minimal effort is required by the homeowner to obtain a federal roof replacement tax credit. Given that solar roofing is becoming increasingly popular, and they have the highest tax credit in roofing, we decided to put together an informational guide on Tax Credit for homeowners.Roofing Tax Credit Chart

We got most of our information from a roofer in Long Island. They were very thorough when explaining via a telephone call about how to acquire a tax credit and the steps we should take. If you prefer to talk to a roofer in person or over a call, you can call Damian Roofing Company or visit their website at http://roofingcontractorslongisland.com/ as they have lots of helpful information on there.

Tax Credit and You

Once the repair or installation is complete, it is important to save all the paperwork associated with the job. Every piece of paper is relevant even with a small job like a shingles repair. Make sure to request it from your roofing company before it becomes extremely difficult to attain.

Now, the size of the tax credit a homeowner can get depends on several factors. It can depend on the size of your home, overall cost, type of material etc.

on the overall cost of replacement and the shingles used in that replacement. The largest sum a homeowner can receive in roofing is from renewable energy roof replacement. Of course, this is 2017 and solar panels became a trend and is staying a trend.

Whether homeowners install a solar powered roof or a regular one, they must consider certain factors. One such factor is energy efficiency.  Having appropriate weather installation, and long lasting products is very important, such as asphalt singling.  Asphalt is a durable material that can last decades if not a full century on the roof of a house when installing with the best shingles correctly, and also is the main material eligible to receive a federal roofing tax credit according to the National Roofing Contractors Association

Important Facts

According to the website of the Internal Revenue Service (IRS), an energy tax credit for installing asphalt roofing can get a homeowner up too a $500 credit per household (if you should own multiple properties) on their federal income taxes as long as it is filed in the year the roof is replaced!

Tax Crredit and Solar Roofing

Did you remember to save your paperwork from the roof company’s installation as stated in the beginning of this article?

Remember to save all your paperwork in a safe and dry place. This helps with qualifying and to make it easier to apply for federal roofing tax credit.

Check out this video about solar roofing and tax credits here:

or visit our home page for more useful tips!

Matthew B. Scudder