Adding Insulation Is A Simple Home Improvement Task That May Warrant A Tax Credit

This is the time of year when adding insulation is important for keeping the cold Oklahoma winter air out, and the warmed, humidified air inside. In addition to the benefits of added comfort and lower utility bills that you can expect from your investment, there is also a limited-time insulation tax credit that you can take advantage of. This tax credit is due to expire on December 31, 2011, so now is the time to act.Adding insulation to your attic is among the most cost-effective home improvement projects you can choose to perform. The insulation tax credit allotment is 10 percent of the cost of materials or up to $500. The standard types of insulation you might want to use are included in the tax credit. Examples include batts, rolls, rigid board, blow-in fibers, pour-in-place and expanding spray insulation.In addition to adding insulation to your attic and various other locations in your home, you can also make air-sealing improvements around your home that increase your energy efficiency and earn you even more tax credits. Materials such as weatherstripping, house wrap, caulk and spray foam can be used to seal up the leaks in your home. These products can go toward a greater insulation tax credit if they come with a Manufacturer’s Certification Statement.As for applying for the insulation tax credit, the process is simple. You must fill out IRS Form 5695 and submit it with your regular tax forms by April 15, 2012. The 2011 version of this form, which is the one you need to apply for 2011 insulation tax credit, is not yet available, though it will be in early 2012. Be sure to include this tax credit information on your 2011 IRS 1040 tax form as well.To get started down the road to improved home insulation, lower utility bills and a worthwhile tax credit, please contact Air Assurancein Broken Arrow today.Our goal is to help educate our customers about energy and home comfort issues (specific to HVAC systems). Air Assurance services Tulsa, Broken Arrow and the surrounding areas. Visit our website to see our current promotions and get started today!