Energy Star Tax Credits
Recently the US Government has authorized Energy StarTax Credits for Energy Efficiency. They offer credits on items varying from insulations to roofing to solar panels. This might be a great time to think about becoming a bit more energy efficient.
Grab the full details from:
Here are some of the requisites
Tax Credits for Consumers:
Home Improvements
Tax credits are now available for home improvements:
* must be “placed in service” from January 1, 2009 through December 31, 2010
* must be for taxpayer’s principal residence, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, and small wind energy systems (where second homes qualify)
* $1,500 is the maximum total amount that can be claimed for all products placed in service in 2009 & 2010 for most home improvements, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and small wind energy systems which are not subject to this cap, and are in effect through 2016
* must have a Manufacturer Certification Statement to qualify
* for record keeping, save your receipts and the Manufacturer Certification Statement
* improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) — use IRS Tax Form 5695 (2009 version) — it will be available late 2009 or early 2010
* If you are building a new home, you can qualify for the tax credit for geothermal heat pumps, photovoltaics, solar water heaters, small wind energy systems and fuel cells, but not the tax credits for windows, doors, insulation, roofs, HVAC, or non-solar water heaters. More.
If you have been thinking about going “green” or even doing a bit of remodeling to the house, this might be the perfect excuse, to spend some extra money improving your home’s value while also enjoying the benefit of the tax credit. Also, this might give you some extra incentive to go ahead and declutter your home to make it match your new add-ons.
Keep it Clean!
Genevieve
