9 Ways to Get Huge Tax Credits

6) Purchase and Install Solar Panels

An Energy and Appliance Tax Credit can be claimed for residents and home owners who are especially eco-friendly and have installed solar panels or energy efficient appliances such as dishwashers utilizing no more than 280 kilowatt hours per year, certain types of top-loading clothes washers, and refrigerators using less than 35% of the industry environmental standards. Some major companies such as Energy Star also offer up to a 10% tax credit for amounts accrued on energy efficient installations with a maximum of $500 that can be accounted for. Solar powered energy efficiency installations can earn a tax credit of up to 30%, which is deducted from the taxes owed versus your actual income. This can save a lot over time between both utility bills and unnecessary tax dollars owed to the IRS.