Home renovations can improve a residence’s comfort, functionality, aesthetics and resale value. They might also provide tax benefits.
You may be able to deduct mortgage interest on debt used to substantially improve your home. Certain improvements can also increase your tax basis, potentially reducing taxable gain when you sell. Medically necessary modifications may qualify as deductible medical expenses, subject to limits.
If you overlooked claiming now-expired credits for qualifying energy-efficient home improvements you made in 2025, an amended return may be worth considering. Contact our tax advisors before or after a home renovation for guidance at 315.424.1120 or [email protected].
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As a leading certified public accounting firm located in central New York for 69 years, Grossman St. Amour CPAs PLLC is focused on the quality service standards that are highly regarded in the accounting profession. The accounting firm provides businesses and individuals with accounting, audit, taxation, business planning and valuation, financial planning, fraud examination and deterrence, and accounting firm peer review services. For more information about how Grossman St. Amour CPAs PLLC can be of service to you, contact [email protected], or call 315.424.1120.
