Energy-saving steps can save you tax dollars
Interested in making some cost-savings home improvements this year? If so, you’ve picked the right time to do it. Not only can you save money by investing in energy-efficient products, you can also benefit from the tax incentives still offered by the American Recovery and Reinvestment Act of 2009.
If you’re looking at doing any home improvements, such as replacing exterior windows or replacing an old furnace or air conditioning unit, these credits may help you lower the taxes you owe. With the
Non-Business Energy Property Credit, you can claim 30 percent of the cost of all qualifying improvements. The maximum credit is $1,500 for 2009 and 2010 combined.
For the
Residential Energy Efficient Property Credit, you can claim 30 percent of the cost of qualifying energy property. The costs of qualifying items may help you reduce your tax bill and provide energy savings as well.
“These credits encourage homeowners to make improvements that will make their homes more energy-efficient,” said IRS Commissioner Doug Shulman. “People can improve their homes and save money over the long run.”
Remember, it's not too late to reap the rewards of the ARRA of 2009.To learn more, visit
IRS.gov.
For information on energy-efficient products, visit the U.S. Department of Energy's
Energy star website.
NOTE: Not all Energy Star products qualify for the tax incentive.
Energy-saving steps can save you tax dollars 
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