April brings a few dates that most people can relate to. One of those dates is of course.. Tax Day. This year that date is April 18th, 2023. This is because April 15th is a Saturday and the next weekday, April 17th, is recognized as Emancipation Day in Washington DC.
If you have not done so, you can still contribute to an IRA for 2022. The guidelines are 6,000 and if you are older than 50, you can make an extra 1,000 catch up contribution and contribute up to 7,000. Those guidelines are changing in 2023, but that is for another time.
When the weather starts to warm up, people look to do home improvements. Under the Inflation Reduction Act, you can get a tax credit for 30% of the costs of installing clean energy systems in your home. This includes solar panels, wind turbines, & battery storage. Along with the 30% of installation – You can get up to a maximum of $600.00 for qualified air conditioners and furnaces, and a maximum of $2,000 for qualified heat pumps. If you plan on home improvements, it might be part of that credit & something to consider. Every little bit of savings help.
And finally, Earth Day is an annual event celebrated on April 22nd. The first Earth Day was held on April 22nd, 1970 and is now a global event celebrated to raise public awareness about the environment. This year consider following the 3 R’s. Reduce, Reuse and Recycle though out your home. You’ll save natural resources, energy and money. Some interesting April facts I wanted to share.