In This Issue
Energy Tax Credits
Large Projects

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2009 Stimulus Package

Are you making any changes to your home this year or next that will make it more energy efficient? If so, you could save money on your 2009 taxes!
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For more details and information  click the links below:

Other Benefits

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2009  Energy Tax Credit
Greetings!

In February the 2009 Stimulus Bill was signed. What this means for homeowners is there are now beneficial tax credits available. If you choose home improvements that are energy efficient, they could result in tax credits on your return. This applies to products that are placed in service in 2009 or 2010 and includes:
  • Energy Efficient Windows and Doors
  • Insulation
  • Roofs
  • HVAC Systems
  • Water Heaters, Air conditioners, Furnaces, and Biomass stoves
The credit is available at 30% of the cost of the item with a cap of $1,500.  When purchasing these products, make sure the model has a Manufacturer Certification Statement.

Another benefit of this credit: there is no income phase out. No matter what your income is, you can still take 30% of the cost up to $1,500! Keep in mind this is a CREDIT, not a deduction!
 Bigger Projects Offer Bigger Go GreenCredits

Are you considering larger home improvement projects? For those making changes on a bigger scale, the following items have have no cap on the cost and the credit is available until 2016:
  • Geothermal Heat Pumps
  • Solar Water Heaters
  • Solar Panels and Fuel Cells
  • Small Wind Energy Systems
To file for this credit, you will need a Manufacturer Certification Statement, which you should receive upon purchase of approved items. Save this statement and your receipt for filling with your 2009 tax return.

While the initial cost on these energy efficient models may be greater than their standard model counterparts, you'll realize savings in your lowered energy bills, plus reap the benefit of your tax credit.
Take advantage of these significant credits and make sure to stay tuned to our blog: we will be posting many more energy and other tax-related issues throughout the year.

Remember, we are here year round to answer your questions! Give us a call or send an email, we're happy to help you!

Sincerely,
 

From all of us at
Maco & Associates, LLC
Teri, Adam, and Hannah

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