CBS Atlanta 46Home improvement tax credits expire at year's end

Home improvement tax credits expire at year's end

If you've been putting off a home improvement project, you may want to act before the end of the year.

"Time is running out to take advantage of federal tax credits. A lot of credits expire at the end of this year. The credits relate to home efficiency opportunities, so making those improvements now is going to be important," said consumer expert Angie Hicks of Angie's List.

According to a recent Angie's list poll, 40 percent of respondents have already taken advantage of these tax credits. 

"We're hearing consumers are taking advantage of the tax credits by installing new windows and installing new doors, insulation, even heating and cooling," said Hicks.

A new roof, biomass stove, or a water heater, could also qualify you for a tax credit.

Hicks added, "Consumers need to be in the driver's seat when they are shopping because not every product is going to qualify for the tax credit. Don't rely solely on the company doing the installation – also check with your tax consultant."

A more energy-efficient model may cost more up front than a less efficient model, but you can recoup 10 percent of the cost through this tax credit, as well as the long term savings you'll see in your energy bills.

To find more products that qualify for the 2011 federal tax credits for consumer energy efficiency, go to Energy Star.

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