Act
now before it's too late!
The
Energy tax credit is about to expire!
The American Taxpayer Relief Act
of 2012 retroactively renewed this tax credit effective January 1, 2012,
expiring again on December 31, 2013.
Any qualified equipment installed in 2012 or 2013 is eligible for this credit.
As in previous years, the cumulative maximum amount of tax credit that can be
claimed by a taxpayer in all years combined is $500. If a taxpayer has already
claimed a tax credit of $500 for purchases made in any previous year, they are
ineligible for additional tax credits for any new equipment purchases.
Owners of
existing homes may receive a tax credit worth 10% of the cost of upgrading the
efficiency of the building's envelope. Installation (labor) costs are not
included and the credit is capped at $500 for all improvements. To be eligible
for the credit, the improvement must meet the prescriptive requirements
established for it under the 2009 International Energy Conservation Code
(including supplements). The following improvements are eligible for the tax
credit:- Insulation materials and systems designed to reduce a home's heat loss or gain
- Exterior doors and windows (including skylights) --- no more than $200 in total credits can be claimed for windows in years 2006 - 2013
- Pigmented metal roofs designed to reduce heat gain
You can find this and more information regarding the tax
credit at:
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