Tax Credits/Energy Efficiency
Within the next month I’m about to spend a lot of money on replacing everything in my new, old weekend house: roof, heat, water heater, insulation, doors, garage door, windows, appliances, etc. All of which is eligible for a hefty federal tax credit if this were my primary home. I don’t consider this my primary…
Within the next month I’m about to spend a lot of money on replacing everything in my new, old weekend house: roof, heat, water heater, insulation, doors, garage door, windows, appliances, etc. All of which is eligible for a hefty federal tax credit if this were my primary home.
I don’t consider this my primary home, but I can’t find the tax man’s definition. Common sense tells me my primary home is where I spend most of my time. Is this right? My accountant says the definition is kind of vague, but I’m no longer so keen on him. (Too many non-answers!)
I’m not interested in cheating on my taxes. Life’s too short . But I might make more expensive/energy-efficient choices were I to get a tax credit (look into solar etc) which I think if the govt’s aim.
Any ideas? I intend to spend about 100 days/year at this other house and I’ve put in my 2 years in my current place. Thanks.
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I’m assuming they’re in public school; if they were in private school, I don’t think that would matter for residency status, though obviously there would be practical considerations.
Thanks guys.
Yeah, well I’d love to register my car there — my insurance here is nuts — and would love to vote there too since I’m really done with jury duty. And the taxes would be easy enough.
I have an office in NYC but I work for myself and my major client lives very near this home. So I think that’s a wash. My kids are in school here which I think is the main thing.
I wish there were programs to take advantage of in NYC, but as a co-op owner there are almost zero. Weird.
Vinca, I may try that. Thanks.
In addition to Denton’s list, the other big one is, of course, the address used for filing your taxes. Better off to seek out available programs/credits independent of primary residence criterion.
Some specifics used by the taxing authorities are where you get your mail, where your car is registered and your DL is listed, and particularly, where you vote.
There’s a Go Green Expo running next week in conjunction with the Architectural Digest show. NYSERDA will have a booth, and I’ve always found their staff helpful. If staff at booth (and show in general) cannot help, they’re usually good about referrals to better-informed sources: http://bit.ly/bpgQ48