How Do You Qualify For Energy-Efficiency Tax Credits?
2009 and 2010 are great years to improve your home’s energy efficiency and get some money from the government at the same time, thanks to the “American Recovery and Reinvestment Act of 2009”, many products, such as windows, doors, skylights, roofing, HVAC, etc. are covered by the tax credits. Note that a tax credit is better than a tax deduction, because a tax credit reduces your tax liability by the exact amount of the credit, while a tax deduction just lowers your taxes by the amount of the deduction multiplied by your income tax bracket. For example, if your income tax bracket is 30%, and your tax deduction is $1,500, your tax liability is only reduced by $1,500 * 30% = $450, far less than a tax credit of $1,500! How do you get qualified for those green tax credits? Do the following: First, make sure you install the eligible products and use them before December 31, 2010. For eligible investment, only those products that were “placed into service” between January 1st, 2009 and Decem
