Sharpen those no. 2 pencils, it’s tax time.

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We’re neither accountants nor tax advisors, but we have been serving the construction industry for over 30+ years. A LOT of things have changed in the tax world since 1985, but we’ve heard enough feedback from our clients over the years to share with YOU the most important tax considerations. The information may be helpful or merely a refresher for you. However, we believe the more educated you are as a homeowner the better position you’ll be in to save some money. These are the top four tax items we suggest you reviewing:

  1. Mortgage Interest.

The greatest part about a home loan is the home. Face it not many of us look forward to that monthly mortgage bill. Home lenders will alway’s state “well you can’t write off the mortgage interest” and you SHOULD. There are varying policies and requirements when it comes to a refinancing loan on a cash paid property, $1 million caps, and more tax rules, so we advise you to do your homework before writing anything off.

    2. Home Improvement Loan Interest

We understand owning a home and having a family is an expensive feat within today’s economy. Maybe your finances were affected by the housing bubble, job market, or merely bad luck, it’s ok. So a lot of people utilize a Home Improvement Loan. The great news about this loan is the loan interest is tax deductible!! There’s no upper dollar limit, but the project must increase your home’s value and prolong its life. Examples: A new roof, pool, garage, porches, insulation, HVAC, landscaping, and more. We strongly advise you to reconsider increasing the square footage of your home, unless you’re prepared for possible reassessment (higher property taxes).

 

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Home Improvement loans can help you increase your home’s value!

 

 

    3. Property Taxes 

We’ve known about these since our day’s playing Monopoly. Your city or state property taxes can be deducted from income. Keep in mind that city or state property taxes refund reduces your federal deduction by a like amount.

   4. Home business

Do you run an ETSY store or EBAY shop? As long as use a portion of your home exclusively for business purposes, you may be able to recoup certain home costs. We do recommend making sure your homeowner’s insurance policy will cover your house if you do have a home business (double check). A great video showcasing this was in the movie “The Accountant” here’s the scene.

 

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Brand new Royal Building Products Siding (Schererville, Indiana)

 

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Nothing like a Blue roof!

The midwest has been getting destroyed by severe weather and the demand for temporary fixes have risen. Polar vortexes, blizzards, hail storms, tornadoes, & more have been plundering your homes. We have tarped houses since our company was formed. Additionally, we offer discounted services if you KNOWINGLY agree for us to complete the repair or re-roof.  However, before you contact us please glance over the five step tarp analysis.

Tarped Roof    Tarp

Five step tarp analysis

  1. Determine the severity of leak (Blown off shingle?)
  2. Estimate cause of leak (Hailstorm, old roof, etc.)
  3. Prepare buckets & move belongings to avoid further damage inside your home
  4. Contact your insurance company
    • Ask insurance holder questions regarding possibly tarping your roof.  Inform them of the current issue and ask about payment coverage.
    • WARNING, your insurance company may inform you to call for a tarp however, please understand that tarping a roof will compromise the roof where the tarp is located. It will direct the water away from the leak, but by tarping a roof is a quick-fix method.
  5. If given the ok, contact us.
    • Our service technicians will be dispatched
      • Take photos for you, insurance company, & complete a roof inspection

(WE RECOMMEND ONLY KEEPING A TARPED ROOF FOR TWO WEEKS)

 

Make your own Jenga Set!

This video will demonstrate all you’ll need to make your own Jenga Set. This is a great DIY project that takes less than 4 hours and $20 (If you have all the tools!). A lot of us have played Jenga once or twice at some point in our life. This game is a great asset if you’re hosting adults during the summer or trying to entertain your children. We even suggest to have your children participate in painting, handling tools, or measuring the blocks. This can be a great activity to show them safety methods, proper procedure, tools, and material use. We hope the family has a great time and if you have questions contact Total Roofing and ask for Phillip!

Jenga set consists of 17 rows of 3 blocks that are 10.5 inches long!

 

 

Insurance Claims and what to expect….

Looking for a general contractor or roofing contractor to assist you? Did a disaster just vandalize your home? Are you frantic or panicking? If so, we don’t blame you, your BIGGEST investment was damaged and you don’t know what to exactly do. You haven’t even filed a claim, but you have 4 companies knocking on your door who are willing to solve your problems, which you don’t even know were problems yet?  Does this sound like you?

Team total is trained and experienced in roof insurance claims. After you contact your adjustor we recommend you contact us. Our project managers will meet your insurance adjusters during the initial inspector and walk along during the inspector. We assist during the initial roof inspection walk through to assure the adjuster does not overlook any items. We understand the process takes time, but our project managers will be there from day one to when your home is completely renovated.

Door Before  Door After

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Products we’ve fixed for insurance companies:

Roofs ( asphalt shingles, EPDM, TPO), Fascia, Soffit, Windows, Doors, Siding, Mailboxes, Electrical boxes, Screened patio doors, Garage doors, Drywall, Painting, Carpet, Metal exhaust units, air conditioner units, & more. Depending on your policy and the objects that are covered in your insurance, we can assist you.

Insurance Claim Process:

First step:

  • Contact insurance holder (Set-up inspection date)
  • Contact Total Roofing (Inform us about adjusters inspection)

Second Step:

  • Complete inspection and await insurance line items they’ll cover
  • Allow Total Roofing to review line items to make sure their not leaving items out.
    • Common roofing products get left out: Caulk, & more

Third Step

  • Send revised items from Total Roofing to insurance company
  • Await changes.

Fourth Step

  • Get the ok from insurance and decide on the scope of work to get completed
  • Review TRC’s contract and move forward to setting a date for project.

Fifth step

  • Job is completed and final invoice is sent to insurance company.
  • You’re happy with the overall turn-out of the project.

We hope this helps you! If you have questions just email me at pctotalroofinc@gmail.com!