I deducted my new HVAC system from my taxes because I'm self-employed
Filing taxes is hard enough when you have a normal job that handles most of the paperwork for you.
I was so inept that I even struggled to utilize the online tools provided by companies like Turbotax and H&R Block.
One year I gave up trying to do it alone and hired someone to help me prepare my taxes for me. It’s hard when you don’t know about all of the deductions of which you qualify, or how to even fill them out properly in the first place. I messed up my taxes one year and ended up paying a tax bill that was higher than it should have been. This year the tax preparer that I found told me that I could potentially deduct my new HVAC system from my tax bill because I’m self-employed and use my house for my business. This was an amazing thing to hear because the air conditioner and furnace were a huge expense for me this year that I wasn’t prepared to pay, as I was hoping that my central HVAC system would last for another five years. Once my tax preparer confirmed that I could legitimately deduct the cost of my HVAC system in the line for my business expenses, I was absolutely thrilled. This actually lowered my tax bill by $400. Honestly, I was not expecting to have that big of a savings on my final tax bill, but I was happy regardless. Buying a new air conditioner and furnace is no simple task, and a $400 tax rebate is nothing to scoff at even if it’s a small fraction of the price of the heating and cooling systems combined.