February is the shortest month of the year. With its short days, long nights, and cold temperatures it is likely that you are spending a lot of time indoors. Hopefully you have a warm fire to curl up in front of. It is a great time to do some thinking and planning for the future. Since you are spending so much time indoors, look around your home and see if there are any improvements that need to be made. Is there an area of your home that you have been thinking of upgrading (Maybe for years)? Are there repairs that you have been putting off? Are there rooms in your home that don’t meet your needs anymore? Do you need to make safety or accessibility improvements? Maybe you have been putting these changes off because you think it would be a hassle and a disruption to your life to remodel or renovate your home. Maybe you have been putting them off because you think they will cost too much. Whatever the reason, maybe it is time to give some thought to moving some of these long overdue projects to the front burner.
If you decide that you want to consider a remodeling project for 2020, Solid Rock Enterprises, can help. We are happy to meet with you to begin the process of organizing your priorities and deciding what projects you would like to undertake. We can help you to figure out what it will cost and how long it will take. And we can make your dream into a reality whether it is an updated kitchen or bath, a new outdoor living space for when the weather warms up, or any other home remodeling project. And through the whole process we will keep in mind your present and future accessibility needs so that your home will continue to be safe and accessible for you throughout the course of course of your life. By incorporating accessibility improvements to your project, you may qualify for the Livable Homes Tax Credit and potentially save up to $5,000 on your state income taxes.
Incidentally, if you completed a project on your home in 2019 that included accessibility features you have until February 28 to apply for the LHTC for 2019. You can take half of the cost of what you spent on accessibility features as a credit against your State Income taxes. Some examples of accessibility features are:
• Accessible route such as a ramp
• Zero step entry
• Lifts
• Elevators
• Zero step entrance
• 32” clear width doorways
• 36” clear width hallways
• Accessible switches, outlets, and controls
• Accessible bathrooms
• Accessible and usable kitchen facilities
• Grab bars
• Lever handles on doors and fixtures
• Sensory modifications
The credit may also apply if you had a new home built in 2019 (or converted one from a non-residential use) that incorporates at least three accessibility features or includes the three features of Universal Visitability it may qualify for the $5,000 credit as well. The three features of Universal Visitability are 1) at least one zero step entry into the house, 2) an accessible bathroom on the same level as the zero step entry, and 3) doorways with at least 32” clear width and hallways and passageways with at least 36” clear width leading from the zero step entry to the bathroom and an eating area.
If you would like to make changes that qualify for the LHTC in 2020, give us a call. We can help you make your home a better place to live and keep some of your hard earned money out of the hands of the tax man next year!

One Reply to “Home Improvements”

  1. It has come to my attention that the Department of Housing and Community Development who oversees the Livable Homes Tax Credit has changed the filing deadline from February 28 to January 31. They did not notify me or any of the other Virginians who have been taking advantage of this tax credit. I was not aware of this change and I apologize to anyone else who may have missed the filing deadline. You can be sure that I will keep a closer eye on them in the future.

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