How to Lower Taxes Making Home Improvements 🏠
How to Lower Your Taxes by Making Home Improvements?
Get to Know: House Resolution “7676” JUST INTRODUCED! It's the Home Modification for Accessibility Act
MORE ABOUT HR 7676:
The Home Modification for Accessibility Act Would allow
· Penalty-free early retirement withdrawals (IRAs, 401ks) towards home modifications for Aging-in-Place items, including:
o upgraded lighting
o curbless showers
o ramps & doorhandles
o technology installations
o and MORE…
· lifetime tax deduction of up to $30,000 for singles
· lifetime tax deduction of up to $60,000 for couples The US NEEDS THIS BILL
· 77% of Seniors want to Age-in-Place (AARP)
· 10% of US Homes are Aging-Ready (US CENSUS)
HR 7676 PROMOTES AGING-in-PLACE
💪🏽 Has the power to overcome cost-related obstacles to home modifications for Aging-in-Place 🏠Will increase the number of American houses prepared for residents of the modern lifespan HR 7676 INCREASES HOME VALUE 🚿Upgrade your bathroom with a curbless shower & Universal Design fixtures. 💡Upgrade your kitchen with sliding drawer cabinets and bright lighting
HR 7676 Saves Lives
👷🏽♀️Install more grab bars. 💺Put in a stairlift.
Reduces the number of Home injuries and Fatalities
Reduces Emergency room visits & Nursing Home admissions & costs
Falls account for 40% of all nursing home admissions, & nearly half of those admitted do not return to independent living. - AgeSafe America
HR 7676 Saves Money
“The cost of lost tax revenues will be balanced by people falling less, fewer injuries, and fewer trips to the hospital, all of which cost the government money.” --HomesRenewed Coalition Support HR 7676
TAKE ACTION 1) CONTACT YOUR LOCAL REPRESENTATIVE
2) Visit homesrenewedcoalition.com for more information about the efforts to support incentives for Home Modifications.
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