Lower Your Home Energy Bill and Get a Tax Credit!
With it being tax season, I wanted to pass along a great tax credit for homeowners. By making cost effective, energy efficient home improvements, you can qualify for a tax credit of $1500.
Here are the requirements and rules:
1.Â Â Â You must make the improvements in 2009 and/or 2010 for the tax credit.
2.Â Â Â The tax credit is 30% of the cost of the improvements or up to $1500.
3.Â Â Â It is a one time tax credit and can be claimed on 2009 or 2010, or partly on each year's tax return.
4.Â Â Â If you used the $500 tax credit in 2006-2007, you can only use the remaining $1000 now.
5.Â Â Â The improvements can be for heating, cooling equipment (not window ac units) or "building envelope" products. This includes, replacement windows, storm windows, storm doors, insulation, etc. Installation costs for these "building envelope" products are not covered, but the cost for heating and cooling are.