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The Tax Advantages of Roof Upgrades

January 09, 20243 min read

Replacing your roof or making certain repairs can provide more than just better protection and increased home value. If you install an energy-efficient roof or make qualifying improvements, you may also benefit from federal tax credits and deductions to help offset project costs.

Energy Efficiency Tax Credits: Receive Credits for Energy Efficient Roofs

A federal tax credit allows you to reduce your tax bill dollar-for-dollar. Homeowners who install ENERGY STAR certified roofing materials may qualify for an energy efficiency tax credit up to $500 lifetime for installing these energy-saving products in their home.

To qualify, you must install asphalt shingles or metal roof panels that are certified by the Cool Roof Rating Council (CRRC) to have:

  • Minimum solar reflectance index of 78 for steep slope roofs

  • Minimum solar reflectance index of 29 for low slope roofs

These reflectance minimums indicate an energy efficient “cool roof” that stays up to 50-60°F cooler than traditional materials in peak summer heat. The result is lower air conditioning costs.

The credit can be claimed for roof installations between January 1, 2018 and December 31, 2023. Talk with your roofer about utilizing energy efficient, CRRC rated materials to potentially take advantage of tax credits.

Roof Repair Deduction Deduct the Cost of Qualifying Repairs

Some roof repairs may qualify for a tax deduction as a non-business energy property improvement. This includes:

  • Insulation added to attic spaces above the roof

  • Sealing and caulking measures around roofing materials/flashings to reduce air leakage

  • Multi-layered roofing system components like additional underlayments

To qualify for deduction, the primary purpose must be reducing heat loss or gain for the home. There are set maximum deduction amounts between $150-$300 based on the improvement type and year installed.

Storm Damage Repairs Claim Casualty Loss Deductions for Storm Repairs

Expensive roof repairs due to wind, hail, or other storm damage may qualify you to claim part of the repair costs as a casualty loss deduction if the damage is sudden and results from a natural disaster.

To claim the deduction, you must itemize your returns and the loss amount must exceed 10% of your adjusted gross income after subtracting any insurance reimbursement received. Consult your tax advisor for assistance in determining and documenting eligible casualty losses.

energy efficient roofs

Documenting Roof Expenses: Keep Itemized Receipts and Certifications

To receive tax credits and take qualified deductions for your roof projects, it’s essential to maintain proper documentation. Be sure to obtain:

  • Itemized receipts and invoices for all work detailing costs

  • Product specifications and certifications

  • Copies of insurance claims and reimbursements (for repairs)

  • Photos documenting storm or other damage (for repairs)

Having the right paperwork proves your expenses if audited. Consult a tax professional to ensure you receive all eligible savings.

Consult the Experts for Guidance: Infinity Roofing Contractors Can Advise on Tax Benefits

Determining which roof upgrades or repairs may qualify for federal tax credits and deductions can get confusing. When planning roof work, consult with the experts at Infinity Roofing Contractors.Their team is up-to-date on the latest rules and requirements to receive tax advantages for energy efficient and storm damage roof projects.

They can advise on quality materials and installation methods that meet program standards. Their roofing professionals can also provide proper invoices and certifications documenting your eligible roof expenses. This ensures you have the necessary paperwork to claim all available tax savings.

Don't Leave Savings on the Table

With strategic roof upgrades and repairs, you may be able to partially offset your costs while also gaining better home protection and energy efficiency. But to maximize potential tax benefits, it takes planning and using the right roofing materials. Talk to the experts at Infinity Roofing Contractors to learn how to qualify for applicable credits and deductions that can provide sizable tax savings.

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