Energy Tax Credits Available in 2009

December 03, 2008

By Megan Strader (WICHITA, Kan.)

If you've been thinking for awhile that it's time to replace a hot water heater or a furnace for something a little more energy efficient, there may no a better time than in 2009.

Starting January first certain renovations to your house could earn you a tax credit come 2010. "I think it motivates people to do upgrades they might not otherwise do, which eventually is a benefit to everybody," says Wess Galyon, President and Ceo, Wichita Builders Association.

He and others at the organization say they've already starting getting calls from people wondering what the credits are all about. It turns out, replacing certain parts of your home can be worth big bucks come tax time.

Certain energy efficient furnaces can save you about $150 dollars, energy efficient windows can save you up to $20 dollars and by putting in some new energy efficient doors you can save yourself almost $50 dollars, which is the same amount of money you could get by putting on a new energy efficient roof.

But since nothings ever easy, there is a $1,500 cap on the amount of credits someone can get and not just any door or window will get you the money.

"There is a base line that you have to move from and the higher that base line is the more you have to do to get to a level that makes you qualify for the tax credit," explains Galyan.

Changes that can save you money on your taxes, on top of the savings on your electric bill.

Click here for more information

|

|

|