It's tax time again and many of us will be scrambling for every possible deduction! If you installed new HVAC, windows, doors, etc. you may qualify for the Tax Credit!
The American Recovery and Reinvestment Act of 2009 allows homeowners to recoup some of the costs to update their homes to "green" status. Homeowners can get up to 30% of the cost (not to exceed $1500) of energy efficient home improvements.
Per the Energy Star site, through 2010 tax year, consumers can qualify for the following tax credits:
• HVAC
Through 2016, consumers can also qualify for 30% of the cost, with no upper limit (for existing homes and new construction) regarding:
Not all ENERGY STAR products and appliances qualify for the tax credits. Make sure you understand all the new provisions around eligibility. For more information, visit the Energy Star site at http://energystar.gov/taxcredits.
Call me, Karen Pannell for all things Real Estate in Owensboro, KY! 270-903-2167
Great blog Karen! Not only is it a great reminder about what we may be able to do to save money on taxes, it's also a great reminder of some of the things we can do to save energy. Even more important in light of this last year's energy disasters.
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