If you’ve heard about the Inflation Reduction Act (IRA) and are wondering about how it affects you as a homeowner, you’re not alone. The IRA affects homeowners across the United States, and if you know how to leverage it, you can improve your home while taking enormous tax rebates.
It’s important to note that tax rebates are paid out to the purchaser or homeowner regardless of whether a tax is payable or not, whereas tax incentives reduce the amount of tax on an item to encourage purchases.
From home insulation to new appliances and installing a new heat pump, you can take advantage of this 10-year program. Here is what you need to know:
Fall is one of the times when your home’s heat pump will get a break. A heat pump works to both heat and cool a house, so between the summer and winter it won’t need to work as often.