Whether due to a faulty installation, out of date technology or simply an aging foundation, sometimes the foundation in your home starts to fall apart. Crumbling foundations can cause a whole host of additional problems in your home, from flooding to damages throughout the rest of your home. This can not only be unhealthy for your home, but it can also be dangerous for your family due to the decay of your home and possible bacteria getting into your home in floodwaters. After all, the foundation is what holds your home up. However, for some people with this problem, there may be relief. The government is currently offering a tax break for those that get their foundations repaired within the next couple years in certain locations.
In many cases, homeowners with foundation problems may find that their insurance doesn’t cover the repairs. These out-of-pocket repair costs can go up into hundreds of thousands of dollars, so if you don’t have a warranty or your warranty has expired you may find yourself in trouble under normal circumstances. However, with this ability to write it off in taxes, you can rest easier knowing that you can get that foundation repair done on your crumbling foundations and end up getting some money back for it.
This new issue can impact several Americans, especially those in older houses and those that have houses in areas that are prone to natural disasters such as earthquakes that commonly cause foundation issues. This is something to celebrate if you are one of these people, and especially if foundation problems in your home have already started to cause additional problems.
If you are dealing with problems with crumbling foundations in your home or business, now may be a good time to look into fixing them. With the government allowing you to write it off of your taxes, it is almost like you are getting the repairs done for free.