Hoem Improvement Tax Credits
November 29, 2010
In this morning's edition of The Wall Street Journal, there was an article entitled "What You Need to know About Home-Improvement Tax Credits" by Mara Lemos Stein. The article is in a question and answer format and discusses which home-improvements are eligible for tax credits and which are not. One of the points of the article was the warning that many of these credits will expire on December 31, 2010.
Homeowners can get tax credit for installing certain wood or pellet stoves, energy-efficient furnaces, water heaters and air conditioning systems; insulated roofs, windows and doors; and wall and ceiling insulation. The tax credit covers 30% of the purchase cost up to $1500. For a full list check the Energy Star web site at http://www.energystar.gov/ "
The cost of installation of heating and air conditioning systems, water heaters and biomass stoves is covered, but installing new windows, doors, roofs and insulation is not.
These tax credits are only available on your principal residence.
Appliances are not included in the tax credit regulations.
The tax incentives for rooftop solar-power systems is available until 2016. These credits are 30% of the cost installation included with no upper limit.
Not only could you get the tax credit, but these new systems will certainly save you money on your utility bills
In this morning's edition of The Wall Street Journal, there was an article entitled "What You Need to know About Home-Improvement Tax Credits" by Mara Lemos Stein. The article is in a question and answer format and discusses which home-improvements are eligible for tax credits and which are not. One of the points of the article was the warning that many of these credits will expire on December 31, 2010.
Homeowners can get tax credit for installing certain wood or pellet stoves, energy-efficient furnaces, water heaters and air conditioning systems; insulated roofs, windows and doors; and wall and ceiling insulation. The tax credit covers 30% of the purchase cost up to $1500. For a full list check the Energy Star web site at http://www.energystar.gov/ "
The cost of installation of heating and air conditioning systems, water heaters and biomass stoves is covered, but installing new windows, doors, roofs and insulation is not.
These tax credits are only available on your principal residence.
Appliances are not included in the tax credit regulations.
The tax incentives for rooftop solar-power systems is available until 2016. These credits are 30% of the cost installation included with no upper limit.
Not only could you get the tax credit, but these new systems will certainly save you money on your utility bills
posted by shirley harry at 7:55 AM
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