23 Jun Are Metal Roofs Tax-Deductible?
Before installing a metal roof on your humble abode, you should know all the benefits it can provide. With its energy-efficiency to its recyclability, metal roofing is unsurprisingly one of the most popular roofing materials on the market. However, there are some other benefits you might not be aware of. For instance, one question you should know the answer to is “Are metal roofs tax deductible?”.
Due to the energy-efficient nature of metal roofing, you can save some money when installing one on your home—not only due to the reduced energy costs, but also directly on your taxes. This is thanks to a federal energy-efficiency tax credit. Installing a cool metal roof to your home within that time frame through the end of 2020 will make you eligible for a $500 tax credit.
However, you’ll need to obtain an important document so that you can properly qualify: the Manufacturer Certification Statement. After installing your metal roof, ask the manufacturer for the statement. This document certifies that the roofing material you installed is in fact eligible for the federal energy-efficiency tax credit. It’s important for you to have this document—as well as IRS Form 5695—on hand when you’re completing taxes to obtain those credits.
So, are metal roofs tax-deductible? Not quite, but they can still help you save money in the long run. Whereas a deductible reduces your taxable income, tax credits directly decrease how much you owe in taxes altogether. If you want to take advantage of this tax credit, McCarthy Metal Roofing is here to help. Homeowners looking for metal roofing in Eastern NC can choose from our wide selection of metal roofing styles and colors to enhance their homes. With the right style and color pairing, your home will truly stand out in the neighborhood while saving you some money along the way.