Monday, April 13, 2009

Tax Credit Available. Do you qualify?

ENERGY TAX CREDIT
On February 17, 2009, the American Recovery and Reinvestment Act of 2009 was passed and signed into law. This bill extends, amends and expands the tax credit for energy-efficient improvements, such as garage doors in existing homes for 2009 and 2010. The maximum amount of credit for all improvements combined has increased from $500 to $1,500 over the lifetime of the tax credit period (2006, 2007, 2009, and 2010).
Most manufactured insulated garage doors qualify for the energy tax credit under section 25C of the International Energy Conservation Code.

FAQ's
Does Belanger & Sons sell product that qualifies for consumer energy tax credits per the American Recovery and Reinvestment Act of 2009?
A. Yes, Belanger & Sons sell several insulated residential and commercial garage doors that qualify for this consumer tax credit.
Q. What qualifies a garage door for this tax credit?
A. Residential garage doors that have a U-factor of equal to or less than 0.30 qualify for this tax credit. Additional requirements are:
The garage door must be installed on an insulated garage (conditioned space).
The garage door must be part of the customer’s principal residence.
The garage door perimeter must have a means to control air infiltration.
The garage door must be installed in the years 2006, 2007, 2009 or 2010.
The garage door must be expected to remain in service for at least five years.
Q. Under this policy, how much credit may a homeowner receive?
A. Taxpayers receive a tax credit of 30 percent of the qualified energy-efficiency improvements installed during 2006, 2007, 2009 or 2010, up to $1,500. Cost of installation does not qualify.
Q. What does a homeowner need to do to obtain the tax credit if the garage door that meets all the qualifications?
A. A Manufacturer Certification provided by the garage door dealer or found on the manufacturer’s website and the dealer’s breakdown of the door cost and the cost of labor should be obtained by the homeowner. Copies should be kept for homeowner records, but do not need to be submitted with tax return.
Q. How do I learn more about the homeowner energy tax credits available due to the American Recovery and Reinvestment Act of 2009?
A. Visit http://www1.eere.energy.gov/femp/news/news_detail.html?news_id=12248,

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