The Federal Tax Credits Blog

Posts Tagged ‘hvac’

Stay cool for less

Warmer weather means relief from the high cost of heating your home. Enjoy it while you can.

$1500 Tax Credit

Question: Is a new central air conditioner system eligible for the 2010 tax credits if I don’t also replace my furnace?

I am planning to replace my central air conditioner compressor and cased coil with a 14.5 seer/410A rating. Would this be eligible for the 30% tax credit?

Answer: more importantly, will you even benefit from it, ASK YOUR ACCOUNTANT regarding the credit. you will definitely benefit from a new more efficient PROPERLY installed system. as far as meeting credit criteria, you need the matched system’s SEER, EER, and /or HSPF (ARI ratings), a note from your mother, and three magic beans.

New Mexico: Deal reached over biomass tax credits

A settlement has been reached in a lawsuit over millions of dollars in tax credits that were sought by developers of a proposed biomass power plant in central New Mexico that was once touted as part of the state’s push for more renewable energy.

Move in condition!

$1,500 Tax Credit For Wood Stoves Ends Dec. 31

U.S. homeowners can get a 30 percent tax credit of up to $1,500 for purchasing a qualifying wood stove, fireplace or fireplace insert before Dec. 31, 2010. The tax credit also applies to pellet stoves and inserts.

NPlains ReadyWinter 15 .wmv

Like most people, you probably don’t look forward to tax season. However, I have some good news for you that might make that time of year just a little brighter for you! Did you know that you can actually save money on your taxes just by using “green” eco-friendly products when doing home improvement projects? Well, it’s true, and I will be more than happy to share some tips and tricks with you on how you can go about doing this!

Have you and your family always wanted a hot tub or swimming pool? If so, I think you will be pretty excited about what I have to tell you! If you were to install either a hot tub or swimming pool at your home that is powered by solar energy, you can receive a tax credit of up to 30% of what you spent on that! Well, technically, you would only get up to a 30% credit if you spent no more than $2,000 on your pool or hot tub. If you spent over $2,000 on it, the maximum tax credit you’d be entitled to would be capped at $2,000. Either way though, I am sure you would agree that it’s a great deal!

Does your roof need replacing? If so, I would highly encourage you to look into replacing it with a metal Energy-Star roof. Doing this will not only make your home look great, but you can also receive up to a $500.00 tax credit for doing this! Replacing your exterior doors is another way to give your home a great new look, and if you install eco-friendly ones can also net you a $500.00 tax credit.

Have you been thinking about possibly installing some skylights in your home? If so, you will be happy to know that doing so can get you a tax credit of up to $200.00, just as long as they meet certain “green” standards.

You can also receive tax credits just by changing the type of cooling and/or heating systems that you use in your home! For example, by installing an eco-friendly air conditioning unit and/or a “green” oil or propane water heater, you can receive a tax credit of up to $300.00!

Best of luck to you, and I hope that you are able to use the tips that I provided to help you save a lot of money on your taxes!

Comptroller announces appliance rebates

Texans looking to replace their decrepit dishwashers, ancient air conditioners and wimpy water heaters with eco-friendly models are in luck.

2008 State of the City Economic Climate Webisode

Question: What IRS form is used for a geothermal heat pump tax credit?

Answer: Form 5695.

Buying a home or making green home improvements? Don’t miss out on these tax credits

(ARA) – A wide range of tax law changes over the last year will result in considerable savings for millions of Americans on their 2009 federal tax returns.

Hydron Module Geothermal Heat Pumps