Energy Tax Credits
Friday, May 8th, 2009In reviewing the documentation on the energy tax credits for home improvements I would agree with many who talk about the confusing nature of the explanations. We do need to be aware that despite the confusing nature of what products are available for the tax credit it is a 30% tac credit. This amount of credit is worthy of the research involved in figuring out what it is involved. On regular projects, i.e. replacement windows, doors, etc there is a cap of $ 1500 and you only get the credit on the material itself. Sounds pretty simple until you figure out that the windows you use in one location i.e. Florida that qualify there do not qualify in say Maryland where I live. The same is true the other way in that the windows that qualify in Maryland may not qualify in Florida. It is important to deal with a contractor who is knowledgeable about what products qualify and what documentation is needed when you get ready to fill out your 2009 taxes. From what I’ve seen I do not expect your accountant to figure it out as he’s not into home improvements. We have been working on giving people the documentation and saying take this to your accountant when you do your 2009 taxes and get the 30% tax credit. Best wishes in taking advantage of a great opportunity in improving your home and getting a 30% tax credit to boot !!