Tax Credits For Energy Efficient Improvements

June 27, 2009

According to the American Recovery and Reinvestment Act of 2009, tax credits for improvements to energy-efficient existing homes will be extended through 2010. Under current law, individuals are allowed a tax credit equal to 10% of the amount paid or incurred by the taxpayer for qualified energy efficient improvements installed during the taxable year. This tax credit is capped at $50 for any advanced main air circulating fan, $150 for any qualified natural gas, propane, oil furnace or hot water boiler, and $300 for any item of energy-efficient building property. For 2009 and 2010, the bill would increase the amount of the tax credit to 30%. The bill would also eliminate the property-by property dollar caps on this tax credit and provide aggregate $1,500 cap on all property qualifying for the credit.

June 27, 2009 | Filed Under Real Estate

Comments

Leave a Reply




Current Facebook & Twitter Status

Facebook
Friend
Anastasia
on Facebook
Facebook
Friend
Brian
on Facebook
Twitter
Follow
Brian
on Twitter

Polls

Are you planning on taking a vacation of 3+ days this summer?

  • Yes (70%)
  • No (30%)

Poll Ends: June 30, 2009 @ 8:45 am

Loading ... Loading ...