SUMMARY OF THE ENERGY POLICY ACT:
Other improvements are covered too, such as metal roofing, furnaces, hot water heaters,
cars,solar energy systems, etc. Be sure to save all receipts for tax purposes and any
manufacturer's certificates, labels, etc.
cars,solar energy systems, etc. Be sure to save all receipts for tax purposes and any
manufacturer's certificates, labels, etc.
For more information, visit: www.energystar.gov to link to the tax credit page and for other
helpful resources.
helpful resources.
 | |  | |  | |  |
Proud Members of:
Home Advantages Bathrooms Contact Us Doors Energy Policy Act Floors
Free Estimates Gutter Guardian Kitchens Siding Suppliers Windows
Free Estimates Gutter Guardian Kitchens Siding Suppliers Windows
Copyright © 2005-2010 Lisa Carpenter
Images used with permission.
Images used with permission.
| Energy Tax Policy Act: |
|
What is a tax credit?
A tax credit reduces the amount of income tax you have to pay. While a deduction reduces the
income you have to pay tax on, a tax credit directly reduces the tax itself. This can provide
significant savings to you.
A tax credit reduces the amount of income tax you have to pay. While a deduction reduces the
income you have to pay tax on, a tax credit directly reduces the tax itself. This can provide
significant savings to you.
What does the tax credit cover?
It covers purchases made during the two-year period of 2009 - 2010.
It covers purchases made during the two-year period of 2009 - 2010.
How much is the tax credit for?
The tax credit allows for a total reduction of $1,500.00 during the two-year period.
The tax credit allows for a total reduction of $1,500.00 during the two-year period.
What improvements are included?
Products that increase your home's energy efficiency are included.
Products that increase your home's energy efficiency are included.
The American Recovery & Reinvestment Act of 2009 was signed into law on February 17,
2009. The bill extends (and modifies) the tax credits for qualifying products as established in
the Energy Tax Policy Act of 2005.
Customers who make home improvements can earn tax credits up to $1500.00!
Tax credits are available at 30% of the cost, up to $1,500.00, in 2009 & 2010 (for existing
homes only) for many home improvements (more information is below).
Please be aware of the following -
Not all ENERGY STAR qualified homes and products qualify for a tax credit. These tax credits
are available for a number of products at the highest efficiency levels, which typically cost
much more than standard products. If, for whatever reason, you decide not to purchase a
product covered by the tax credit, you may still consider purchasing an ENERGY STAR
product. ENERGY STAR distinguishes energy efficient products which, although they may
cost more to purchase than standard models, will pay you back in lower energy bills within a
reasonable amount of time, without a tax credit.
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 .
- $1,500.00 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 windmills 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)
- You will need to use IRS Tax Form 5695 (2009 version) — it will be available late 2009 or
early 2010.
2009. The bill extends (and modifies) the tax credits for qualifying products as established in
the Energy Tax Policy Act of 2005.
Customers who make home improvements can earn tax credits up to $1500.00!
Tax credits are available at 30% of the cost, up to $1,500.00, in 2009 & 2010 (for existing
homes only) for many home improvements (more information is below).
Please be aware of the following -
Not all ENERGY STAR qualified homes and products qualify for a tax credit. These tax credits
are available for a number of products at the highest efficiency levels, which typically cost
much more than standard products. If, for whatever reason, you decide not to purchase a
product covered by the tax credit, you may still consider purchasing an ENERGY STAR
product. ENERGY STAR distinguishes energy efficient products which, although they may
cost more to purchase than standard models, will pay you back in lower energy bills within a
reasonable amount of time, without a tax credit.
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 .
- $1,500.00 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 windmills 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)
- You will need to use IRS Tax Form 5695 (2009 version) — it will be available late 2009 or
early 2010.
After you learn about the new Energy Tax Credit for 2009-2010 below, learn more about Alside. The fact
is, there are many competitive windows that DO NOT meet the new Energy Tax Credit qualifications.
Know BEFORE you buy! Find the facts here: Alside Has What Others Don't.
is, there are many competitive windows that DO NOT meet the new Energy Tax Credit qualifications.
Know BEFORE you buy! Find the facts here: Alside Has What Others Don't.
| 219-769-3002 |
