Tax Credit For 2009 By Going Green And The Energy Star Website
The Recovery and Reinvestment Act of 2009 which had been signed in February was an extension with additions to previously existing tax credits. Some of the projects that you did to make your home more energy efficient or an investment in renewable energy in 2009 may qualify you for a tax credit on your 2009 tax return.
A tax credit can reduce your taxes, dollar for dollar, and is different (better) than a tax deduction. Some of the tax credit for energy efficient purchases in 2009 are listed below. All tax credits have additional qualifying rules and regulations. Any tax related information should always be verified with a tax professional.
Exterior doors, windows, and skylights (does not apply to new home construction) with an incentive up to 30% or maximum of $1500. Not all Energy Star models apply.
Storm Windows and Doors (does not apply to new home construction) as a combination to an exterior window over which it is installed. Tax credit is up to 30% of cost up to $1500 for all improvements combined.
Asphalt roofs and metal roofs (does not apply to new construction) tax credit equal to 30% of cost and a maximum of $1500 for all improvements combined. Certain conditions apply.
Insulation (does not apply to new constuction) Primary purpose must be to insulate and does not include installation cost.
Central A/C, heat pumps, and geothermal heat pumps not all Energy Star models will apply.
Water heater - electric heat pump and solar water heater. Special conditions apply for all three.
Biomass Stoves that uses plant derived renewable fuel to heat home or water. Special conditions apply.
Solar electric systems, small wind energy systems, and fuel cells
There are additional guidelines for qualifying for the tax credit in 2009. The improvement must be for the taxpayers principal residence and for several of these the maximum credit for all improvements is $1500. Several do not apply to new home construction and some do. Certain conditions apply to each and everyone of the tax credits listed above. Please verify all tax related information with a tax advisor.
Further information about the federal energy related tax incentives; http://www.energystar.gov/
Further information about the state energy related tax incentives; www.dsireusa.org
David Craven
RE/MAX Mountain Realty
David@DavidCraven.com
www.WaynesvilleHomes-ForSale.com
www.HomesForNC.com
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