Metal Roofs Equal Tax Credits
Metal roofing has many advantages when it comes to energy efficiency—including a recently-added $500 credit for homeowners. Those who are planning to install a metal roof atop their primary residence in 2016, or installed one in 2015, can capitalize on the tax break.
“Consumers are making informed environmental choices for everything from the car they drive to the clothes they wear. The roof you choose should also be evaluated for its sustainability. This new tax credit makes the decision even easier,” says Dick Bus, president of the Metal Roofing Alliance. “A metal roof is a long-term solution that increases the value of your home while reducing its environmental impact and lowering energy bills.”
Metal roofs feature highly reflective coatings that provide year-round relief from high energy costs, absorbing less heat than other types of roofing. They are available in a variety of materials and styles, including tiles, shakes, shingles, and standing-seam panels.
Certain limitations apply to the metal roof tax credit. If you’re planning to install a metal roof on your home, ask your contractor to provide a copy of the Manufacturer Certification Statement for the product. This is a signed statement from the manufacturer certifying that the metal roof qualifies for the tax credit. You’ll need it when you file your taxes, along with IRS Form 5695.
As always, be sure to consult with a qualified tax professional for the most up-to-date qualifying information.
Source: Metal Roofing Alliance