Welcome to SolidPlanning.com. Solid Planning is a site where our dreams, strategies, and hard work are combined to produce tangible results. On this site we will review books, tips, tricks, and strategies, looking for ways to build our plan to meet the 2009 goals posted in the far right column. As we make progress we'll bring you along with articles and stories on this site. We welcome your suggestions and feedback along our journey so please feel free to leave comments!

Jan 17, 2009

Residential Energy Efficient Property Credit

Per IRS Form 5695 a non-business energy property credit will be available in tax year 2009. The credit is limited to $500 and is for items such as high-efficiency heating and cooling systems, water heaters, windows, doors, and insulation that were placed in service during 2009. In addition, the amount of the credit will be limited by the amount of any non-business energy property credit you took in 2006 or 2007.

Examples of home improvements that may qualify as tax credits are listed below:

* exterior doors and windows
* storm windows
* skylights
* metal roofs
* insulation
* central air conditioning and heating
* geothermal heat pumps
* hot water boilers
* advanced main air circulating fans
* biomass fuel stoves with a thermal efficiency rating of 75% or more
* asphalt roofs with cooling granules

We recommend you visit and discuss with your your tax preparer before making any purchase you intend to claim as a tax credit.

No comments:

Our Twitter Feed.....

    follow us on Twitter