Today on the Reschexpert blog we want to talk to you about the Inflation Reduction Act and how it pertains to Reschecks, Manual J, Manual S, and Manual D services. There are some interesting items within the bill. I just took the time to read the entire the bill, something that most politicians do not do. I will share the interesting tid bits that I found so that you will not have to take the time to do the same.
The most interesting thing I found in the bill is that it offers up to $150 for a home energy audit. The details are cloudy at this point as to whether it would include a Rescheck, Comcheck, Manual J, Manual S, or Manual D. However, if your home was in need of an energy system or insulation upgrade the argument would be there that is exactly what that $150 should cover. We are speaking with our accounting, legal, and legislative partners to get clarification on this section. We ourselves are not tax professionals and do not offer any tax advice. As far as your individual new construction, addition, or alteration project you would need to ask your own accountant as to whether the Rescheck, Comcheck, Manual J, Manual S, or Manual D you need for your project will be covered by the Inflation Reduction act bill.
Some other items contained in the bill that could help our readers save some money or garner tax breaks are the following:
$600 to upgrade an energy panel
$500 annual cap on energy efficient door upgrade
$600 annual cap on skylight and window upgrade
$2000 for installation of energy efficient heat pumps, water heaters, and biomass stoves
Some of the items are income based and all of the items would require you to talk to your accountant before you bank on actually receiving the tax savings on your tax return, but we do find it promising.
Many of our clients we hear from need a home energy audit, new energy panel, new hvac unit, improved doors, and better windows when they undertake a Rescheck, Manual J, Manual S, or Manual D so we feel that this bill seeks to help with many of those items.
We will keep the Reschexpert blog up to date on the happenings with home energy audits and the Inflation Reduction Act and let you know when we find more information about any of the items mentioned above. Thanks again for reading the Reschexpert blog.