Important tax credits about to expire
There are 8 tax breaks that are expiring this year including the electric vehicle tax credit and the energy efficient remodeling credit. So if you’re considering buying a new plug-in electric car or remodeling your home for energy-efficiency you may want to do it now.
Currently consumers who buy an electric plug-in vehicle like the Nissan Leaf or the Chevy Volt may qualify for a $7,500 tax credit. If you buy a Ford Fusion Energi and C-MAX Energi you may be eligible for a $3,750 credit.
Homeowners who remodel with energy-efficient windows or heating systems can take a credit of up to $500 over their lifetime. This program has been around since 2006 so you may have used the credit. There is an additional $500 credit available for energy-efficient appliances such as a washing machine or dishwasher.
Both offers are expiring on December 31st so you need to act quickly. Perhaps you need a new car, dishwasher or windows but you just don’t have the extra cash right now to take advantage of these programs. After all replacement windows aren’t cheap. Luckily there are options available such as store credit or selling your illiquid assets to get the cash to pay for these upgrades.
While selling your future annuity payments for cash isn’t right for everyone, having access to your money to make home repairs or buying reliable transportation is sometimes necessary. If you are considering selling, consider calling CBC Settlement Funding. At CBC we understand what’s it is like to not have the money you need and we’re to help. We already helped thousands of Americans get the cash they deserve, call for your free, no-obligation quote now at 877-386-3377.
Sources:
http://www.dailyfinance.com/2013/11/05/8-tax-breaks-expiring-year-end-2013/