Did you know that there are insulation tax credits available for adding insulation to your home?
• A credit is a dollar for dollar reduction in your tax liability (or increase on your refund).
• The credit may be taken on your current year Income Tax Return on form 5695.
• The credit is 10% of the cost of adding new insulation with a maximum credit of $500.
• Only insulation installed in your home is eligible for the credit.
• Other energy efficient items such as exterior windows, exterior doors, and roofs may also qualify for this credit.
Make sure you keep all documents pertaining to the insulation. To get full benefit of the tax credit or for help on other tax matters please call Accountant Cameron Pribble at the CPA firm of Child, Van Wagoner & Bradshaw at (801) 447-9572.