Home improvement tax credits

Upholstery Journal | October 2009

A bill has been filed that gives a variety of income tax deductions and credits to consumers and retailers purchasing home furnishings and building products. The bill, known as the Home Improvements Revitalize the Economy Act of 2009, gives $2,000 worth of tax deductions for families with incomes of less than $300,000. Lower income families receive up to $500 worth of tax credits. Retailers purchasing home furnishings and building products for resale qualify for a 10-percent tax credit of the wholesale price.

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