Wednesday, October 27th, 2010
Tax Benefits of Metal Roof Replacement
Energy-Efficient Roofing Tax Credit Through 2011
Whether it is age or acts of nature that cause your roof to be in disrepair, sooner or later, you will have to do a Metal Roof Replacement. A new roof not only revitalizes the integrity of your home by preventing leaks and other damage, it adds value to your property.
Metal roofing has become a popular choice in the United States. When your metal roofing needs replacement, repair or maintenance, look for energy-efficient metal roofing materials. The U.S. government is offering a tax credit for energy-efficient Metal Roofing Materials to encourage the purchase of “green” building materials.
Tax Benefits in Effect until 31 December 2011
Instructions for Obtaining a Tax Credit for Your Metal Roof Replacement
- Consider your savings when purchasing energy-efficient metal roofing, as opposed to standard roofing material. Energy-efficient material will save you much more money in the long run. The American Recovery and Reinvestment Act of 2009 offers tax credits for 30 percent of the total cost of new energy-efficient Metal Roof Products up to a maximum of $1,500.
- Find Metal Roof Replacement materials that meet the energy-efficient requirements outlined by the U.S. government. All products with the Energy Star seal are eligible for this tax savings. Energy Star roofing reflects the sun’s rays and cools the surface of your roof. The cooler the roof, the less heat is absorbed into your home, which will reduce your air conditioning usage and decrease your energy bill. Lowering your energy use also helps the environment. The more you decrease your energy consumption, the less fossil fuel is burned by the utility industry to create electricity.
All New Roofs from Metal Roofing Systems Have Energy Star® Paint or Coatings
- Purchase your new energy-efficient metal roofing materials. Save all receipts and records after you install your roof. The IRS recommends that you save the Manufacturer’s Certification Statement as well. This certification statement should be included with your purchase. If not, request one from your vendor. The IRS does not require this statement to be filed with your taxes, but the statement ensures that you have purchased the correct product to qualify for the tax credit.
- Complete your year-end taxes and file for your energy-efficient metal roofing tax credit on IRS Tax Form 5695. This form will be available at the end of the 2009 tax year. You will not be able to claim your tax credit until you file your year-end taxes.