Everyone wants to save money on their taxes, especially my family. We owed last year which is not a great feeling. It actually makes you feel gross really from the inside out. Not only do you pay taxes all year round, but now you owe more at the end of the year too? Yikes! That’s why we felt it was very important to write this article today. If you get energy saving products in your home, shouldn’t there be a benefit to that? Yes, there is! If you play your cards right you should be able to get a tax return from window replacement.
You Can Deduct Their Energy Savings From Taxes!
If you replaced any double-hung, casement, or egress window or installed windows on a new home that meet Energy Star standards, you may be eligible for a federal tax credit. You could even qualify if you have a partial window replacement, meaning you don’t have to remove and replace every window or door. The credits may be as high as 10% of the cost up to $200 for windows. That could be the difference between a tax credit and owing, am I right?
Windows Can Save You Money In Other Ways Too!
Not only could new windows give you money back off your taxes (if you qualify after using IRS Form 5695 (PDF) when you file your 2019 taxes) they could save you money off any and all future energy bills. Our Texas Windows ensure you get year round comfort. They protect your home from the harsh UV rays while not obstructing the beautiful views from outside. Homeowners who switch to Texas windows can see a significant energy savings of up to 40% off their entire energy bill! That’s crazy because, if you really think about it, 40% of the energy you are pumping into your house is escaping through the windows. That’s literally like throwing money out the window.
Small Side Note
Just a quick side note here. My husband and I got new windows just over a year ago. The Air Conditioning/Furnace used to come on 2-3 times a night before the new windows were installed. After the windows were installed, they weren’t even coming on at night. That’s pretty nifty. I have seen a savings of $20-$30 off my energy bill each month since the windows have been installed. Sure it’s a smaller amount, but $30 is quite a bit for me. With things getting so expensive in this world, every little bit of money counts!
Final Thoughts
As we come to a close on this article, I want you to remember that windows, doors, and even siding could qualify as tax deductible on your 2018 tax return. Windows could also save you money year round off energy costs. Thanks for reading this article and we’ll see you next week for another riveting topic!