Last week delivered some exciting news for those thinking about adding to their home's value by installing residential window film. Congress recently passed the "Tax Increase Prevention Act of 2014" (HR 5771), which was also signed by President Obama on December 19. The bill includes several opportunities for homeowners to save on their taxes, including a new provision for the use of window films that homeowners should be aware of.
Section 25C of the bill states that window film is eligible for tax credits, with benefits covering up to 10 percent of the cost of window film installation, up to a maximum of $500. This represents significant potential savings, and helps deliver residents the many benefits of window films at a more affordable cost. However, it is a one-year retroactive tax credit, meaning homeowners should act quickly to claim the incentives on their 2014 returns filed in 2015.
"We are delighted that Congress recently passed HR 5771 that includes tax incentives for energy efficient home improvements, such as installing window film," Darrell Smith, executive director of the International Window Film Association told WindowFilmMag.com.
As noted previously on this blog, 3M window films deliver a number of energy efficiency advantages. A significant amount of heat escapes via your windows in the winter, and in the summer, combating the sun's rays makes up a large portion of your utility bill. 3M window films reduces heat gain by up to 79 percent, which helps lower energy consumption.
To learn more about the benefits of installing window films in your home or office, contact Michigan Glass Coatings. Our knowledge and expertise will ensure we find the right solution for you and answer any questions you may have.