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Spray Foam Insulation and the Economic Stimulus Plan equal BIG TaxCredits!! Home Improvement Tax Credit This
tax credit is available for consumers who are improving the conditions of their
principle residence. In order to qualify for the tax credit a home owner
must have the improvements placed in service between January 1, 2009 and
December 31, 2010. For insulation the homeowner can qualify for 30%
of cost, up to 1,500.
Don’t forget this is a TAX CREDIT, which has bigger implications for an individual’s tax bill relative to a tax deduction. Also, a home owner will be required to have a copy of the manufactures certification statement on hand at the end of the year.
Tax Credit for Home Builders This tax credit has not changed except, it has been extended through December 31, 2009. This credit still requires a home to achieve 50% energy savings for heating and cooling over the 2004 IECC. You can find additional information including paperwork at http://www.energystar.gov/index.cfmc=products.pr_tax_credits#s6
Tax Deduction for Commercial Buildings This tax deduction has not changed but have been extended through December 31, 2013. This deduction still allows for $1.80 per square foot if a building achieves 50% energy savings. More information can be found at http://www.energystar.gov/index.cfm?c=products.pr_tax_credits#s8
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." -David Murphy, Whitney, TX |
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