What You'll Learn
Home Improvements
Q: What about tax credits for home improvements?
A: Most apply to energy saving. And they exist on top of 
those "cash for clunkers" appliance rebates and energy-related state incentives.
Q: Lots of people now find they are working from home. Can they deduct the cost of a home office?
A: As long as a room or distinct portion is used exclusively and regularly for business purposes. You can't get a deduction if your office doubles as a guest room or you operate your business from the kitchen table. You'll need to do some calculations and document your claim—I suggest photographs.
Q: Any breaks for fixing up an old house?
A: If a building is certified as historic, you may be able to claim a credit for 20 percent of the renovation costs. Your state historic preservation office should have details.
Q: What about tax credits for home improvements?
A: Most apply to energy saving. And they exist on top of 
those "cash for clunkers" appliance rebates and energy-related state incentives.
Q: Lots of people now find they are working from home. Can they deduct the cost of a home office?
A: As long as a room or distinct portion is used exclusively and regularly for business purposes. You can't get a deduction if your office doubles as a guest room or you operate your business from the kitchen table. You'll need to do some calculations and document your claim—I suggest photographs.
Q: Any breaks for fixing up an old house?
A: If a building is certified as historic, you may be able to claim a credit for 20 percent of the renovation costs. Your state historic preservation office should have details.
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