The Federal Tax Credits Blog

Posts Tagged ‘energy’

Question: Do you have to have a construction loan for the new $8000 tax credit or can you build it out of pocket?

I’m curious that if I build a home out of pocket this year instead of closing on a construction loan, will I qualify for the new $8000 tax credit for first time home buyers?

Answer: Wow, a spam magnet.

Yes, you will qualify as soon as it is legally a house (you have your final) as long as everyone on the deed is a first timer.

The tax credit does not require that you receive any sort of loan.

New look with a green tint

The rooftops of Chattanooga could be taking on a new look in 2010 and the coming decade. Some will be green. Some will glitter with the sun’s power.

Why Buy New? | New Homes By Lennar

Question: Is OPEC trying to Sink the US economy?More cutbacks in supply?Can the economy take 75$-90 a barrel oil again?

It was obvious before the Credit Crunch that High Oil and Gas prices were responsible for the downturn of the US economy.Tourism,Retail,Airlines ,everything ,but the Wind Turbine business were turned upside down.Now with talk of New Federal and State Energy taxes to feed the depleted coffers,The price of fuel could easily equal the 150 $ a barrel prices we had in June,2008.
BTW OPEC and Non OPEC countries have made it clear that they will get oil back to 70-90$ a barrel.That is why they have tankers sitting full right now waiting for the cutbacks to get the price higher.

Answer: I think the cartel is colluding…the prices never have to be so extreme, its all a gimmick to enrich themselves. They have more excuses in the making for why they are going to rob us.

Paterson showcases help for people struggling in Mohawk Valley

ALBANY, December 30, 2009 — Governor David A. Paterson today reminded New Yorkers in the Mohawk Valley about programs and services that can help them better cope with today’s uncertain economy.

AlternativeEnergy.com’s Newscast, March 2008

Question: Can I claim the tax credits for energy effecient items like windows, appliances, etc when I buy a new house?

I know there’s tax breaks for installing them into your current home. If I’m spending $300K on a new home that has energy star items, am I not technically buying them also? Everybody else gets the break!

Answer: USA answer:

No, the credit is for *replacing* existing windows, etc.

This is just part of your cost basis.

TOP STORIES OF 2009: Economical struggles have affected many

Whether discussing it at a local coffee shop or within the confines of your own home, the economy has been one hot topic this past year. Michigan’s jobless rate reached a staggering 15.1 percent the highest in the nation, as the trickle-down effect of the auto industry’s near-collapse continued to take its toll.

Like New Energy Efficient Townhome

Question: Can a person claim the $1500 “residential energy property credit” for 2009 and then 2010 for a total of $3000?

This is a snippet from a New York Times article: “Home Improvements. If you made “green” improvements to your primary home this year, you may be eligible for a residential energy property credit, which is capped at 30 percent of the price of certain qualifying improvements, like energy-efficient windows and doors to heating systems, according to CCH. The credit is available for 2009 and 2010, up to a combined maximum of $1,500.”

Does anyone know if the combined maximum of $1,500 credit means I can claim 30% of my green improvements of up to $1,500 per year for 2009 and 2010 (totaling $3,000 for both years)? Or I can only claim up to $1,500 for both years combined?

Thank you in advance.

Answer: You get a maximum of $1500.

That’s $1500 in 2009 and $0 in 2010, or $0 in 2009 and $1500 in 2010 or $500 in 2009 and $1000 in 2010.

Bay Area green buildings strive for LEED certification

Going green is becoming the norm in the Bay Area and the gold standard is a LEED certification.

$1500 Tax Credit Windows

Question: Viable counterweight to big oil . . . What do you think?

My husband and I like to invest in small start-up companies in the energy sector . . . we’ve been looking at several that deal specifically with the distribution of hydrogen power . . . We have opposing views . . .

My husband believes that the real reason hydrogen technology is not being given the same merit and consideration as ethanol is because big oil companies already have affordable means to distribute ethanol . . . and “pump” conversions can be made for little cost . . . and ultimately the economic argument outweighs the inherent problems associated with ethanol . . .

I say that the energy crisis will become mission critical for the economic and domestic security of the Untied States that Congress will finally mandate big oil change . . . making “pump” conversions mandatory (via tax credits or penalty) or perhaps, forgoing corporate involvement and funding such programs with tax payer money (reference NASA or the Manhattan Project)

What say you?

Answer: Here’s the deal… Your husband has a point, but it is slipping away fast. GM has produced over 100 prototype hydrogen cars that get the equivelent to 80 per “gallon” of gas, and the hydrogen costs $2 per “gallon”. They are teaming up with Shell to put hydrogen pumps at all their stations by 2013 and the cars will be mass produced by 2015. Theydrogen can be produced by running electricity through water, so the stations will have conversion plants on site, using electricity from multiple and varied sources (solar, wind, biomass, oil, etc).

It isn’t the government pushing this, either. GM as Shell are doing it because it will make them money. T. Boone Pickens, former CEO of BP has baough a ton of land in Texas and will be putting wind farms there because he can make money. He doesn’t need the money, but he says that why do anything unless you get something out of it.

The thing is, you are right, too. This country needs a leader that will smack down the other politicians and take this country into the future. We should drill for more oil, use coal-to-oil and gas to liquid technology now, move forward through nuclear next and then into the new tech in the future. but holding up against all possibilities now is a bad idea. It’s like fighting big wood as energy 150 years ago. Seems pointles now, since we moved on more than 80 years ago. Same with our fight against oil. in 20 to 50 years we will be so far past oil, it will make Al Gore look like an idiot for talking about it.

Lenovo intros ThinkPad Edge, X100e ultraportable and other ThinkPad refreshes

It just wouldn’t be a CES without a gaggle of new introductions from Lenovo , and while we knew good and well that most everything here was on the way thanks to a slip-up at Lenovo’s site, it’s always nice to get the official word. Kicking things off is the altogether sexy ThinkPad Edge , which will ship in 13-, 14- and 15-inch versions in order to suit the small business users in the crowd. It …