If you are a homeowner who pays income taxes in the United States then you may know that there are a multitude of costs that you can take off from your taxable income to lower your taxes and save money each year. Sure, you can often subtract the amount of interest you pay on your home loan or home equity loans, but there are also a multitude of home expenses and repairs you can use to lower your taxes if you meet certain requirements.

The additions you make to your home can be eligible for tax deductions or credits depending upon the cost of the project, the reason for the home upgrade and your overall tax situation. Many home improvements and home remodeling projects can be counted towards reducing your income if you meet some special requirements. Sometimes you need to run a business or serve customers in a part of your house to qualify for these deduction, but there are other deductions you can use even if you do not work out of your home. A lot of people have heard about the new environmentally friendly tax credits, but you might want to also consider some of the costs of other various home improvement projects as well.

Tax deduction for landscaping – This is only one of the many possible deductions you can use if you truly run your business from your home. A while ago tax courts ruled that if you run your own business and serve customers regularly at your home you may be able to deduct a portion of your landscaping expenses as a business expense because it makes your business more viable. You probably won’t be able to deduct the entire amount, but rather, you would have to deduct part of the expense in proportion to how much your business and living areas share the same space.

Swimming pool tax deduction – Tax rules state that in some cases a part of the expenses to put in a pool can be deducted from your taxes if there is a solid medical reason to have a pool. In one case a gentleman with low breathing capacity used a swimming pool to exercise and increase his lung strength. Because he used the swimming pool more than his family he was allowed to deduct part of the expenses as a medical expense. These credits are important to keep in mind when you are applying for a pool loan because they can change how much you can afford. Other medical devices for the house such as ramps for wheelchairs may also be eligible for a deduction. You should also know that the IRS considers a swimming pool and a spa to be the same sort of medical device.

Tax credits for new doors – Select Energy Star entry doors that meet certain energy efficiency criteria are eligible for a tax credit of up to 30% of the cost of the door with a maximum tax credit of $1,500. If you are going to install new doors this year, make sure they meet the minimum requirements for this tax deduction. Remember that the doors are approved for the tax credit but the labor required to install them does not qualify.

If you’re planning on finishing some home upgrades this year, you should really look into the possible tax deductions that may be available! Not all home improvements qualify for tax deductions, but with a little research you can definitely save some money on your income taxes and improve your home at the same time. The rules for income taxes are always changing, so it may be beneficial to speak with a qualified tax professional about your home improvements to find out of you are eligible for some of these special credits. To be sure that you are counting everything you can, you should take copious notes, take a lot of photos and obviously organize all your receipts for every possible home improvement expense.

These are just some of the possible ways your home improvement expenses can save you money. If you really want all the details, then be sure to read our full guide to tax deductions for home improvements.