Have access to cash when you need it! Now Is The Time!
Goldmark FCU Home Equity Line of Credit allows for a convenient and flexible way to live your life.
- Build an addition to your home
- Take a vacation
- Build a deck, put in a pool
- Pay off your car loan
- Or, for anything you’ve wanted to do, but haven’t had the funds available.
Maximize Your Savings: Tax Incentives for Home Renovation Projects
You might be delighted to learn that there are several tax incentives and deductions available to homeowners who embark on home improvement ventures. These incentives not only make your renovation more affordable but also promote energy efficiency and sustainable living.
25C Energy Efficient Home Improvement Credit and 25D Residential Clean Energy Property Credit
If you make energy improvements to your home, tax credits are available for a portion of qualifying expenses. The credit amounts and types of qualifying expenses were expanded by the Inflation Reduction Act
Energy Efficient Home Improvement Credit
These expenses may qualify:
- Exterior doors, windows, skylights and insulation materials
- Central air conditioners, water heaters, furnaces, boilers and heat pumps
- Biomass stoves and boilers
- Home energy audits
The amount of the credit you can take is a percentage of the total improvement expenses in the year of installation:
- 2022: 30%, up to a lifetime maximum of $500
- 2023 through 2032: 30%, up to a maximum of $1,200 (heat pumps, biomass stoves and boilers have a separate annual credit limit of $2,000), no lifetime limit