We know, we know – Holiday shopping has you frazzled. But while you’re busy making your Christmas and New Year’s Eve party plans and getting all your shopping, wrapping and cooking done, don’t slip up and miss out on your energy efficiency tax credits. With all that cash you’re spending on your gift buying list, it’ll be nice to get a break from Uncle Sam next year.
If you move quickly, one of those breaks could be a tax credit of up to $500. Under President Obama’s Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, homeowners can claim a tax credit for 10 percent of the cost (up to $500) of new, Energy Star-rated exterior doors installed in their primary residences by December 31. Other tax credits included in the program, designed to make America’s homes more energy efficient, are:
- 10% of the cost of insulation and sealing materials, exterior doors and roofs;
- 10% of the cost, up to $200, of exterior windows or skylights;
- Up to $300 for electric heat pump water heaters, electric heat pumps, central air conditioners, biomass stoves and natural gas, propane or oil water heaters;
- Up to $50 for advanced main air circulating fans; and
- Up to $150 for natural gas, propane or oil furnace, or hot water boilers.
Remember – Purchases and installations must be completed by December 31 and you must include credit claims with your 2011 federal tax return filings. Government officials have not yet decided whether to extend the tax credits into 2012, so this may be your last chance for money back on your energy upgrades. Visit the EnergyStar website for all the specifics. And call Dream Doors Jacksonville at 904-880-7778 to choose your beautiful new front doors today.