$1500 Tax Credit
February 17, 2009
You can qualify for a $1500 tax credit.
On February 17, President Obama signed into law the American Recovery and Reinvestment Tax Act of 2009. This bill extends and modifies the tax credits for windows, doors, and skylights established in the Energy Policy Act of 2005. The following guidance is not intended as legal advice, and you should consult a tax professional with specific questions.
According to the U.S. Department of Energy, "A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. Consumers can itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government."
How Does It Work?
You can spend up to $5,000 during the 2 year period (January 1, 2009 - December 31, 2010) on a single product or multiple products and get 30% of $5,000 or $1,500 back in a Federal Tax Credit for Energy Efficiency Home Improvements.
To qualify, home improvements must meet specific criteria such as:
- Property must be ready and available for use from January 1, 2009 - December 31, 2010.
- You must have a certification from the manufacturer stating that the product or component qualifies for the tax credit.
Your home efficiency improvements can be claimed on your 2009 taxes (IRS Tax Form 5695, available late 2009 or early 2010).
Meet with the Experts
We understand that tackling a home improvement project can be overwhelming, but we're here to help. Schedule your appointment to visit our showroom or have an expert come to you. We'll help you determine what products (windows, doors, etc.) suit your home and your budget.
