8 Tax Breaks Expiring at the End of 2013

From mortgage insurance premiums to teachers’ classroom expenses, don’t miss out on these tax breaks.

Home improvement
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7. Electric vehicles. Consumers who buy a qualified electric plug-in vehicle may be eligible for a tax credit of up to $7,500 depending on the size of the car's battery pack. For instance, owners of the Chevy Volt and Nissan Leaf may be eligible for a $7,500 credit, while owners of the Ford Fusion Energi and C-MAX Energi are eligible for a $3,750 credit. Some lessees may be eligible for this credit as well.

[See: 8 Energy-Efficient Home Improvements That Save Money.]

8. Remodeling your home for energy efficiency. Homeowners who remodel for energy-efficiency can take a credit of up to $500 over their lifetime. This provision has existed since 2006, so many taxpayers have already used the credit. "It looks at your prior credits that you've taken so there is a little bit of a look back, and you may not get the full amount," Spritz says. There is a separate $500 credit available for energy-efficient appliances. If you haven't used the credit yet, there's still two months left to install new windows or buy an energy-efficient air conditioner.

Corrected on 11/05/2013: A previous version of this story incorrectly stated a tax credit would be available for energy-efficient washing machines.

Corrected on 11/26/2013: A previous version of this story misstated the process for deducting state sales tax. You may deduct state sales tax if you state doesn’t have income tax.