Did You Know Home Improvement Can Save You on Taxes?

Home improvement deduction

Did you know, according to Jeff Brown of Main St., you should expect to pay 1% of your home’s value in home improvement and maintenance costs on a yearly basis? Brown points out that this is a minimum. For example, if your home is worth $250,000, you should expect at least $2,500 per year in improvement costs. The fact is that scraping together that money year after year can add up. To lessen this burden, you should take advantage of any home improvement deductions the United States government offers you. Here’s how.

  • What Qualifies as Home Improvement?
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    What qualifies for home improvement tax deductions can vary from year to year. Shana Ecker of The Huffington Post points out that, generally, things like plumbing, wiring, roof replacement, and o