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Old 12-02-2013, 06:54 PM   #1
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Default Upcoming tax deductions

We bought a home in 2013 and also added a brand new HVAC system along with LOTS of other upgrades, will there be any tax deductions for this with our federal taxes ??????
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Old 12-02-2013, 07:02 PM   #2
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I would talk it over with an accountant. Real accountant, not the kind that the crap companies trot out during tax season; somebody with a brick and mortar, local business as opposed to HR Block, etc.



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Old 12-02-2013, 07:33 PM   #3
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There could be some deductibles for energy saving appliances such as the HVAC system.
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Old 12-02-2013, 09:50 PM   #4
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You get a $300 or 10% of the cost tax credit, whichever is lower, for installing energy efficient a.c. system. You have to get a new system that is certain number of SEER or higher, I forgot the exact number.
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Old 12-03-2013, 01:36 AM   #5
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Quote:
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We bought a home in 2013 and also added a brand new HVAC system along with LOTS of other upgrades, will there be any tax deductions for this with our federal taxes ??????
I got a little deduction for installing an efficient AC unit on my last house a few years ago - wasn't much of a deduction, but it was something. (I thought they were phasing that one out? Or maybe it got extended?)

As to your "other" upgrades, doubtful unless it's a rental (but wouldn't it be nice if we could all deduct our home improvements!)

You can, of course deduct some for mortgage interest and points paid on your loan - if you have a mortgage, that is, and you have enough deductions to exceed the standard deduction.

(at first glance I thought your thread title referred to you were having twins or triplets! )
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Old 12-03-2013, 07:22 AM   #6
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Also real estate taxes and any sales taxes you paid.
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Old 12-03-2013, 07:26 AM   #7
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Get with Bean Counter. He helped me out tremendously last year and like posted, forget H&R block. They couldn't even do my taxes last year (Mariner)They use the same program that they sale on the shelf, and couldn't answer my questions on how to find the tax shelters. Bean Counter could and showed me where to find it on the internet.

Take all the money you can now before the non-workers take it all. LOL!!!!

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Old 12-03-2013, 09:42 AM   #8
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Get with Bean Counter. He helped me out tremendously last year and like posted, forget H&R block. They couldn't even do my taxes last year (Mariner)They use the same program that they sale on the shelf, and couldn't answer my questions on how to find the tax shelters. Bean Counter could and showed me where to find it on the internet.

Take all the money you can now before the non-workers take it all. LOL!!!!
Bean counter or is it mariner on here ????????????
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Old 12-03-2013, 09:57 AM   #9
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Bean counter. I needed mariner advise.
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