Yup it’s tax season again. I’ll try to ease the pain a little by bringing you some easy to understand yet very important tax strategies in the coming weeks, that can save you thousands of $$$. Here’s the first:
Residential energy property credit:
-enhanced credit for 2009 and 2010
-for windows, doors, skylights, insulation, water heaters, roofs, biomass stoves (principal residence only)
-30% of cost; aggregate limit of $1500
-No reduction for subsidized financing
-New standards for improvements
-solar electric, solar water heating, geothermal heat-pump, wind energy, fuel cell power plant (first and second residence)
-30% credit for qualifying costs
-credit caps removed (except for fuel cells), for 2009 and on
-sbusideized financing permited.
see complete resource at www.energystar.gov
