Save money on Taxes And on Energy Costs

Reduce your tax bill

By making energy-efficient improvements to your home.
It will reduce your energy costs, as well. Take the tax credit for energy-efficient windows or doors, air conditioners or furnaces, or other energy-saving improvements on your tax returns so far it goes to 2016.

It pays off even better than in the past.
Gain a maximum credit of $1,500.00 under the American Recovery and Reinvestment Act of 2009.
Improvements made by homeowners will give them eligibility for a credit equal to

30 percent of the cost, up to $1,500.00

The taxpayer would have to pay $5,000 on energy efficiency improvements to get the maximum credit.

Previously the maximum was $500.00

Homeowners can claim the new credit even if they had taken the old one.

Qualifying improvements had to have been made during 2009 or 2010, to be able to claim them the following year.

The IRS tells us that:

"Residential Energy Efficient Property Credit This tax credit helps individual taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, solar electricity equipment and wind turbines. The credit, which runs through 2016, is 30 percent of the cost of qualified property. There is no cap on the amount of credit available, except for fuel cell property. Generally, you may include labor costs when figuring the credit and you can carry forward any unused portions of this credit. Qualifying equipment must have been installed on or in connection with your home located in the United States; fuel cell property qualifies only when installed on or in connection with your main home located in the United States."

Limits on individual items are gone except for fuel cell property, and there is no income limit for the credit.