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7 Types of Tax-Deductible Home Improvements

  Energy-Efficient Upgrades Homeowners can potentially qualify for an  Energy Efficiency Home Improvement Credit (link is external)  of up to $3,200 for energy-efficient improvements made after Jan. 1, 2023. The credit for 2024 is 30% of qualified expenses, but it has certain limits depending on the type of improvement. Energy efficient upgrades can help reduce energy usage and strain on a home’s critical systems. Upgrades can include structural improvements to the home and the installation of new systems. Here are some sample projects: A  home energy audit  may be eligible for a tax credit of up to $150. An auditor will help your clients understand where they’re losing energy and identify health and safety issues in their home. A home energy audit could help save up to 30% on energy bills, according to the Department of Energy. To qualify for the credit, the audit must be conducted by a  qualified home energy auditor (link is external)  or someone who is supervised by a qualified audi
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A Guide to Donating Almost Anything Lying Around Your House

  Clothing and Accessories Clothing for all ages and sizes can be reused or repurposed. The same is true for accessories, such as shoes, bags, and hats. Local shelters, religious sites, and community outreach centers are good places to start if you want to donate directly to individuals in your area. Non-profit organizations like  Goodwill Industries  and  The Salvation Army  will accept clothes and accessories for resale at their thrift stores. They use the proceeds to fulfill their missions, including Goodwill’s training and career programs. Both provide tax receipts if you drop items off with their staff. If you leave items in their overnight bins or donation boxes, you won’t be able to get a tax receipt. The  Vietnam Veterans of America  will pick up clothing (as well as appliances, furniture, kitchen items, and more) from your doorstep and leave a tax-deductible receipt behind.For gently used professional clothes such as suits, blouses, blazers, and skirts, consider donating to or
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Generation Z’s Must-Haves When Buying Homes

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  Gen Z (born between 1997 and 2012) has developed a reputation for   being more frugal   than prior generations (such as the   millennials with their avocado toast .) The oldest came of age during the Great Recession in the late 2000s, and many saw their families struggle. And as these younger folks are just getting started professionally, they typically earn less than their millennial and Gen X peers. So it’s not surprising that with the cost to purchase a home so high, Gen Z is looking to save wherever they can. That might help to explain why owning a large home isn’t as important to this generation, say real estate and generational experts. Recent college graduate  Riley McConnell , 22, hopes to eventually move into an apartment with her partner somewhere affordable where she can launch her career. For now, the marketing and communications coordinator is currently working with her grandfather, a demographer, and living with her parents in Connecticut. She and other members of her g
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What Is Hardscaping?

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Hardscaping is the use of non-living elements in landscape design. This can include things like paved areas, fire pits, fences, water features, and more. Hardscape is the opposite of softscape, which includes all the living things in your yard, like shrubs, grasses, flowers, and trees. Hardscape and landscape are typically used together to create landscape design. So, landscaping is the encompassing umbrella term—referring to the process of modifying the land to enhance its appearance and functionality—and hardscaping and softscaping are the more specific examples that fall under the umbrella. Examples of Hardscaping Patios While plants may be first of mind when you picture landscaping, it's actually common practice to do hardscaping first, and follow with softscaping. Patios are often the largest element of hardscaping in landscape design, and they play an important role of designating functional spaces in the backyard. Walkways Walkways are another highly functional element of ha
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