Will My Taxes Look Different Now That I’m a Homeowner?

March 24th, 2017 Categories: Random Thoughts

Taxes? Gross! Who wants to think about government paperwork, especially when your hand still aches from signing the 977 forms required to buy your first house? But listen up: As a new homeowner, you can typically wave bye-bye to the 1040-EZ form and say hi toitemizing your deductions on Schedule A. Read the rest of this entry »

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How Long to Keep Tax Records

February 17th, 2017 Categories: Random Thoughts

Unless you’re living in the 123-room Spelling Manor, you probably don’t have space to store massive amounts of tax and insurance paperwork, warranties, and repair receipts related to your home.

But you’ll definitely want your paperwork at hand if you have to prove you deserved a tax deduction, file an insurance claim, or figure out if your busted oven is still under warranty.

To help you prioritize your paperwork, we’ve created a hand “How Long to Keep It” home records checklist. Read the rest of this entry »

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Tax Credits for Replacing Heating and Cooling Systems

March 18th, 2016 Categories: Random Thoughts

The Feds allow a suite of energy tax credits for heating and cooling systems and related energy-efficiency improvements. Read the rest of this entry »

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Tax Credits for Installing Biomass Stoves

March 7th, 2016 Categories: Random Thoughts

Did you install an efficient biomass stove recently? If so, you may be eligible for a $300 energy tax credit. Here’s what you need to know: Read the rest of this entry »

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Tax Credits for Storm Windows and Storm Doors

August 16th, 2015 Categories: Random Thoughts

Update: Thanks to a vigilant reader, we were alerted to a change in the federal tax credit eligibility of storm windows and doors. Read the rest of this entry »

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Tax Credits for Installing Solar Panels

August 4th, 2015 Categories: Random Thoughts

Trying to convert the sun’s rays into electricity doesn’t make sense for every home owner. For the solar panels that typically sit on your roof to be really effective, they need exposure to direct sunlight for at least five hours a day. If there’s a lot of fog and rain where you live, or obstructions like trees or neighboring structures, then your solar system won’t be as efficient. Read the rest of this entry »

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