Wednesday, April 7, 2010

Tax Credits for Energy Saving Windows Still Available

USA Today reports that tax credits for energy-efficient products like windows and doors are still available to homeowners. According to their website, last year's economic stimulus package has expanded some energy-efficient breaks, including:

The non-business energy property tax credit. This tax break provides a credit of 30% of the cost of new insulation, energy-efficient windows and doors, furnaces, air conditioners, heat pumps, water heaters or boilers, up to a maximum of $1,500. To claim the full credit, you would need to spend at least $5,000 on qualified energy-efficient home improvements, says Mildred Carter, federal tax analyst for tax publisher CCH.

The credit is available for 2009 and 2010, so if you replace your aging furnace or leaky windows this year, you can claim the credit when you file your 2010 tax return. However, the $1,500 is a lifetime cap, so if you claim a $1,000 credit on this year's return, you're limited to $500 in 2010.

If you need to replace windows this year and haven't yet claimed any such breaks on your taxes for 2009, you could get the full $1500 next year! Home Solutions, your leader in Virginia Beach window replacement, is the one to call for your free estimate on window and panel replacement or installation. Right now, too, when you buy two windows the third one is free, so you save even more!

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