Search Like An Agent!
Register for a FREE Listingbook Account

Home Improvement Tax Tips for 2007

by Karen Goodman on December 26, 2007

With only a few days left in 2007, time is running out to take advantage of some home related tax deductions.

If you make energy efficiency home improvements to your primary residence by the end December 31, 2007, you may be eligible for a tax credit. Tax benefits are available for:

windows
doors
skylights
insulation
heating equipment
cooling equipment
hot water heaters

For more complete information on the covered items, see this article and talk to your tax adviser. If you already made the improvements, dig out your receipts for your tax adviser. If you were planning to make these improvements soon, it might be worth a quick trip to Home Depot or Lowe’s to see if you can get something ordered before the end of the year.

And don’t forgot to drop off of your surplus household items at your favorite charity. In order to tax advantage of charitable tax deductions, the donations need to be made by December 31.

There are tons of great organizations that can use those items that you don’t really need. I’ll plug a few of my favorites here in case you are looking for a good home for your items.

NCJW’s Council Shop – provides funding for many great programs including Back to School Store (accepts clothing, household items and furniture)
Ranken Jordan – specialized rehabilitative hospital care for children regardless of their ability to pay (accepts children’s clothing and toys)
Lydia’s House – provides furnished transitional living apartments for victims of domestic violence (accepts children’s and household items)

Or, if you are looking for a good cause for a year-end financial donation, please consider Backstoppers Inc. This great organization steps in to take care of the financial needs of families who have lost a police officer or firefighter in the line of duty. Within days of a tragedy, Backstoppers makes arrangements to pay off mortgages, car loans and credit card balances, and provides educational assistance for the children until they complete college.

If you are new to the St. Louis area and need some help in locating a charity near your home that can accept the items you want to donate, please contact me for assistance.

If you enjoyed this post, make sure you subscribe to my RSS feed!