New Roof Tax Advantages Explained by a Los Angeles Roof Expert

When you get a new roof for your home, there are some tax advantages and rebates that may apply.

For example, if you’ve lived in your home for a certain amount of time and do a re-roof or other remodel and add value to the home, you may be eligible for tax rebates when you sell the home in the form of capital gains deductions.

When you’re an HOA, you can often obtain a large tax advantage when doing major repairs and certain kinds of new roofing that still fall under the category of repairs, such as a liquid applied resurfacing, roof coatings, etc.  When you do roof repairs, these costs can be deducted in full in the tax year they are conducted within, whereas often with re-roofing those costs have to be amortized over many years (I’ve heard 39!).

Whatever the case may be, whenever you spend money on your dwelling, there are often hidden tax advantages or rebates available and you should always consult your tax professional to find out what programs and rules exist.

There are other new roof rebates that one can be eligible for as well which don’t fall under tax rebates.

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For example, when you do a solar system, usually you will want to re-roof for a variety of reasons, unless the roof is less than 10 years old or in spectacular condition.  The Fed will give you 20% of the re-roof cost as part of their solar rebate in the form of a tax deduction.

If you use ultra reflective shingles, you can usually get a rebate, usually about $1.50 per square foot from your power provider or if you do an ultra reflective flat roof, whether it’s a coating, or the roofing product itself is ultra reflective, such as a Coolstar torchdown or capsheet hot tar roof by CertainTeed.  Most manufacturers, such as GAF, APOC, Owens Corning, etc have ultra reflective products as well.

Usually any object that you install which involves energy savings will have some sort of rebate available.  There was a program some time ago in a Los Angeles suburb that would give you substantial rebate ($200) for installing a solar fan.

The only problem is that these programs and rebates come and go, and the rules often change so you’ll need to do your own research with your city or fed government, your power provider, and so on.  Your roofing contractor is unlikely to keep track of all these programs though your solar provider should be up to snuff on their trade since the rebates are such a large part of the deal.Of course, if you need a new roof, you should invest in one for the safety and well-being of your family.