Tax Credits Set to Expire
by December 13, 2010 12:00 am 75 views
Some federal tax credits designed to help homeowners increase the efficiency of their homes will expire on Dec. 31.
Consumers can get a credit on taxes of 30 percent of the cost of certain Energy Star-rated biomass stoves, heating and air conditioning, insulation, roofing, water heaters, and windows and doors.
The credit is capped at $1,500 per household and the purchases must be installed and in use by the end of the year.
The $1,500 maximum does not apply to geothermal heat pumps, solar energy systems or residential wind turbines. A 30 percent tax credit on those is available through the end of 2016.
More information is available at www.energystar.gov and through qualified accountants.