Save Money and Boost Your Home’s Efficiency in 2024
Upgrading your garage door isn’t just a practical improvement; it’s also a smart financial decision. With federal tax credits for energy-efficient upgrades, you can save up to $500 annually on your taxes while enhancing your home’s comfort and curb appeal. Here’s everything you need to know to take advantage of these savings.
What Are Garage Door Tax Credits?
Under the Inflation Reduction Act of 2022, homeowners can claim up to 30% of the cost of an eligible garage door as a federal tax credit. These savings make it more affordable to invest in a high-quality, ENERGY STAR-certified garage door, which also reduces energy bills over time.
Key Benefits of Tax Credits On Your New Garage Door:
- Dollar-for-Dollar Savings: Unlike tax deductions, credits directly reduce your tax bill.
- Annual Limits: Claim up to $500 annually for two or more doors.
- Energy Savings: Reduce heating and cooling loss by upgrading to an insulated, air-tight door.
For example, purchasing two ENERGY STAR-certified garage doors at $1,200 can result in a $360 tax credit.
Who Is Eligible for This Tax Credit?
To qualify for the garage door tax credit, your door must meet these criteria:
- ENERGY STAR Certification: Verify your door is certified for your climate zone using the ENERGY STAR Climate Zone Finder.
- Insulated Garage: The door must be installed on an insulated garage to maximize energy efficiency.
- Primary Residence: The garage must be part of your main U.S. residence.
Pro Tip: Work with a trusted installer, like Tracker Door Systems, to ensure your purchase qualifies and is professionally installed.
How to Claim the Credit
Claiming your tax credit is easy when you follow these steps:
- Save Your Documentation: Request a Manufacturer’s Certification Statement and keep all purchase receipts.
- Complete IRS Form 5695: This form allows you to claim the Residential Energy Credit.
- Submit with Your Taxes: File the form with your tax return for the year the door was installed.
Why Choose Tracker Door Systems?
At Tracker Door Systems, we take the guesswork out of selecting and installing ENERGY STAR-certified garage doors. Our team ensures every product meets federal tax credit requirements while enhancing the look and performance of your home.
Client-Centered Service:
- Free consultations to identify your needs.
- Expert guidance on eligible products.
- Professional installation to maximize energy savings.
Get Started Today!
Don’t miss your chance to save money and improve your home’s efficiency. Contact Tracker Door Systems now to schedule a consultation or visit our showroom to explore qualifying garage doors.
