Use this to figure your debt to income ratio. A debt ratio greater than or equal to 40% is generally viewed as an indicator you are a high risk borrower. The number one rule of personal finance is to earn more money than you spend.
Adding solar panels can qualify you for a federal tax credit. In general, home improvements such as a roof replacement do not qualify as a tax deduction. However, installing solar panels or green technology on your roof will qualify you for federal and possibly state energy tax credits. An energy-efficient roof also means lower utility bills.
Claiming the Credits. To claim these credits, tax filers must file IRS Form 5695 with their 2012 federal income tax return. Form 5695 and instructions for completing the form can be found at the IRS website. Also, homeowners who itemize and claim other home improvement deductions can still claim both credits.