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Tax Deductions for Home Improvements Aliquippa PA

Typically there are no deductions allowed for homeowners that improve their house. However, you can still get some benefit from improving your home later on. By increasing the value of your home you will acquire more equity.

Mr. Charles J. Pinchotti (RFC®), CFP, CHFC, LUTCF
(724) 728-9666
2020 Beaver Ave., Suite 106
Monaca, PA
Company
Pinchotti Insurance & Financial Services
Qualifications
Education: BACHELOR OF SCIENCE; CERTIFIED FINANCIAL PLANNER;CHARTERED FINANCIAL CONSULTANT
Years of Experience: 33
Membership
IARFC, FPA
Services
Invoice, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Education Plan, Healthcare Accounts, Asset Protection, BuySell, LiabCover, Compensation Plans

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Mr. Gregory R. Metcalf (RFC®), RFP
(307) 723-5018
200 Ivy St
Weirton, WV
Company
Horizon Financial Group
Qualifications
Education: Ohio University, BBA FinanceCollege for Financial Planning's CFP Certification Professional Education Program
Years of Experience: 15
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection

Data Provided by:
Ken Dwyer Income Tax Svc
(412) 269-0499
280 Moon Clinton Rd
Coraopolis, PA

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A Pro Financial Services
(724) 622-0004
170 McClain Rd
Beaver Falls, PA
 
H&R Block
(412) 366-7299
3020 MCINTYRE SQUARE DR
PITTSBURGH, PA

Data Provided by:
Mr. Richard P. Sabo (RFC®), RFP
(724) 443-5720
5061 Rt 8
Gibsonia, PA
Company
Money Concepts International
Qualifications
Education: 20 years in the financial planning business. I also testify as an expert witness on insurance and investment fraud. I also have an Income Tax Preparation service.
Years of Experience: 22
Membership
IARFC, MDRT
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Long Term Care Insurance, Charitable Planning, Education Plan, Asset Protection

Data Provided by:
HARRISON FINANCIAL SERVICES
(724) 417-2478
490 FRANKLIN AVE.
ALIQUIPPA, PA
 
H&R Block
(412) 269-1030
936 5TH Ave1ST FLOOR
CORAOPOLIS, PA

Data Provided by:
H&R Block Inside Sears At Ross Park Mall
(412) 630-8920
1000 Ross Park Mall Dr
Pittsburgh, PA

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Jackson Hewitt
(412) 563-9000
7250 Mcknight Road
Pittsburgh, PA

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Tax Deductions for Home Improvements

Tax Deductions For Home Improvements?
Tue 01/15/08 10:38:33 pm
by Leroy Calstard

Who can properly answer home improvement tax deduction questions? This is a question that many find themselves asking. Homeowners and tax experts argue and discuss home improvement deductions on a regular basis. Due to the oscillating laws regarding these types of deductions, very few people are really clear on what they can and can not claim. Improvements on your home should never be done simply because you want to get a tax deduction. Making your home a better place can add value and comfort to your home and those should be the reasons why you complete them. Improve your house because you want to make a change, not because you are looking to claim exemptions on your taxes.

Typically there are no deductions allowed for homeowners that improve their house. However, you can still get some benefit from improving your home later on. By increasing the value of your home you will acquire more equity. The more equity you have, the more money you will make. So the lack of tax deductions is not a reason not to perform home improvements. In the long run there will be financial benefits of some kind.

As with most tax deduction scenarios, there are ways that tax deductions can be taken for home improvements. An example of this is, if a member of your household is disabled and there must be repairs made to create more accessibility for them, these type of improvements can be deducted. This type of situation is a medical concern which is why it can be deducted from taxes. When performing home improvements more than seven percent of income must be spent for you to be able to take these deductions. It is important, however to remember that home improvements that are unrelated to medical issues may not be tax deductible.

Home improvements that are made for business purposes are also sometimes tax deductible. If you need to put in a new bathroom or build on wing for an office, you might be able to take a tax deduction for these improvements. This is covered underneath the tax rules that allow deductions for home business expenses. Whenever you have a home based business there is room for deductions. Remodeling is included in these deductions. However, once again, these types of deductions should not be taken for granted. Find out if the repairs you made qualify.

Taking tax deductions for any type of home improvement can be tricky. The best way to safeguard yourself is to consult a tax professional. Reading the guidelines can be confusing for most. Seeking out a professional is recommended. This is the...

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