Homeowner Savings In New Tax Bill

The recently passed federal tax bill provides changes affecting homeowners, namely:

1. Increase to the State and Local tax deduction limitation (SALT cap): The SALT cap increases $40,000 for those filing jointly. This exists till you cross $500,000 of income then it starts to phase out. This cap has been $10,000 for the past several years.

2. Get your home energy efficiency improvements and solar installations done before December 31, 2025. The Energy Efficient Home Improvement Credit (Section 25C) and the Residential Clean Energy Credit (Section 25D) will expire for property placed in service after December 31, 2025. This means homeowners will no longer be able to claim these credits for eligible improvements made after this date.

32 Great Ideas For Your Next New Home

If you missed the previous newsletter covering 32 great ideas for your new home, check it out at the link below.

Maintenance Reminder

It’s time to flush out the inside of your hot water tank. Get all those sediment buildups out of the tank.

A couple of steps to do this:

1. Hook up a hose to the drain port near the bottom of the tank. See photo above.

2. Turn off the water to the tank.

3. Open the drain port valve.

4. Ensure the water is running to your drain.

5. Open the Temperature and Pressure (T&P) valve on your tank to relieve the drain pressure.

6. Repeat these steps once the tank is finished draining.

7. Do this regularly to ensure your drain port does not become clogged.

The content of this newsletter is for informational purposes only and does not constitute professional advice. Always perform your own due diligence before making any financial decisions. There are no sponsors of this newsletter.