"Combining projects — like new insulation and a heat pump — can get you up to $3,200. Keep receipts for each eligible update and add them to your tax forms."
This article by Annie Millerbernd originally appeared in NerdWallet on February 13, 2023:
If you’ve been holding off on home improvements, a new law signed last year and now in effect as of Jan. 1, 2023, may provide a fresh incentive.
The Inflation Reduction Act, or IRA, includes tax credits and rebates for homeowners who make energy-saving updates to their homes. Credits for improvements like new solar panels, windows, doors, and air conditioners are available now, while rebates for larger energy-efficient updates are expected to become available later this year or next year.
Here’s what to know about these perks, plus tips to plan your projects.
