Standby Generator Tax Deduction?
Wondering About a Standby Generator Tax Deduction? If you bought a standby generator to support dialysis equipment, chairlift, or specialized wheelchair, it’s considered a medical-related expense that you should discuss with your tax accountant. However, if you’re still weighing the pros and cons of buying a standby generator, here are a few pros you may not have thought about:
First, it gives tremendous peace of mind. Realtors call this the “joy factor”. Backup power from an automatic transfer switch and power management system means that heaters, refrigerators, computers, sump pumps and lights keep running and your family and pets stay safe in emergencies. Second, any home improvement project that increase livability is worthwhile! A standby generator fits this category. Just look around your neighborhood. More and more people work from home, making a standby generator essential for business. Communications, computer programs, telephones, internet, and other vital equipment function without interruption. Customers and co-workers stay happy. Finally, what about financial protection? Your paycheck is at high risk if you struggle and try to live without power even for a few days. Think about the cost to replace all of the things you lose in a disaster? Food in the fridge and freezer thrown away and restocked. Downed trees to be cut and removed by landscapers. Water pumped out and repairs to roof or basement. Expense after expense. It’s a money drain possibly avoided by owning a standby generator as your back up power source in a disaster.
It’s always best to discuss options with a professional. So, after you check in with your tax advisor, call Northeast Generator at (203) 336-3031 to discuss your needs. Although a tax deduction is always nice to find, buying a standby generator pays off in so many other ways…peace of mind, better livability, and financial protection in post-emergency clean up.