Articles 20VN | Reduce Taxes by Making Energy Efficient ...

Thanks to the American Recovery and Reinvestment Act of 2009 you can now receive a tax credit of up to $1,500 on energy-efficient improvements made to your home in 2009 and 2010. The credit reduces your personal income tax dollar for dollar.

Eligible improvements include the following:

1. Energy-efficient windows
2. Energy-efficient doors
3. Air conditioners
4. Furnaces
5. Energy-efficient HVAC combination systems
6. Internal insulation
7. External insulation
8. Hot water heaters
9. Energy-efficient skylights

The good news is that you can claim the new energy-efficient credit even if you had taken the old $500 energy-efficient credit in prior years. There is no income limit for the credit;meaning it is available for all individual taxpayers, irrespective of your level of income. Even better, there is no limit on individual items, as under the prior law. This means you can claim the full credit for only one type of energy improvement (i.e. doors).

Not all products qualify, however. Windows, doors, and skylights purchased before June 1, 2009 must meet or exceed the prescriptive criteria established by the 2001 Supplement of the 2000 International Energy Conservation Code (IECC) or the 2004 Supplement of the 2003 IECC for the climate zone in which the product is installed. To protect yourself make sure the manufacturer certifies, in writing, that the product qualifies for the above new energy-efficient standards.

There is also an alternative energy credit of 30% of the cost of solar water heaters, geothermal heat pumps or small wind turbines. This cost includes product cost and labor costs and is allowed for regular and alternative minimum tax purposes.

Source: http://www.20vn.com/taxes-income/reduce-taxes-by-making-energy-efficient-improvements-to-your-home-309.htm

angelman syndrome troy zodiac killer tottenham tottenham chinook mgmt