I’m hearing about the tax credits for energy efficiency upgrades to a home. How do they work and what do they mean to me?
According to the American Recovery & Reinvestment Act of 2009, the federal government is offering tax credits for energy-efficient home improvements including windows, doors, roofs, insulation, HVAC, and non-solar water heaters. The government credits have been put in place to help stimulate the economy as well as to raise the awareness for the importance of energy efficiency. Under Section 25C of the Internal Revenue Code (I.R.C.), Qualifying window film installations from Jan. 1, 2009 through Dec. 31, 2010, are now eligible for a maximum tax credit of 30% of the window film cost up to $1,500 instead of the previous 10% up to $500. Tax credits are not to be confused with deductions. Credits are taken from/added to, the bottom line of what you owe/refund. This credit is in addition to any past credit that may have previously been used. There are specific restrictions to this code. Please research the restrictions or call Kim at 801-589-0779 to learn more.
