You only have until February 1st of 2010 to complete your home renovations and receive a tax credit of up to $1,350. All you need to take advantage of the Home Renovation Tax Credit (HRTC) is a description of the goods or services, the date they were purchased, the amount of the invoice and proof of payment.
Make sure you stick to the list of eligible expenses which includes items such as:
- New furnace, boiler, fireplace or water heater
- Building an addition onto your home
- Renovating a kitchen, basement or bathroom
- Security system installation
- New electrical wiring
- Central air conditioner
- Solar panels
- New carpet or hardwood floors
- Associated costs such as installation, permits, professional services, equipment rentals, and incidental expenses
Every family is eligible for the HRTC. While your claim can be split up among family members, the total amount cannot exceed the maximum allowable. As always, feel free to contact me if you have any questions.
