10 midyear tax moves to make now
Make home energy improvements
If you're already in a house, make it more energy efficient. It could help reduce not only your utility bills, but also what you owe the IRS.
The bad residential energy tax news is that you now must make more extensive -- and expensive -- alternative energy improvements to get the tax break. These include installing solar energy, wind power, fuel cell or geothermal systems.
The good residential energy tax news is that the tax benefits for these upgrades are better. Eligible improvements to your home could qualify for a tax credit equal to 30 percent of the cost, including installation, without any cap on the credit amount.