Another federal tax credit is about to expire, though this one isn’t getting nearly the amount of publicity as the home buyer tax credit.
The credit for Consumer Energy Efficiency is an effort to reward homeowners who make energy-related improvements on their property. Through the end of 2010, the government is offering a tax credit of 30% of costs up to $1,500 for small scale residential projects. The energystar.gov website gives a nice overview of the different criteria. Importantly, the credit only applies to a primary residence.
If you’ve made some changes at your home, take a moment to find out if the new products qualify for the tax credit. Maybe you replaced a furnace or put in a pellet stove – both could be covered. Check the website and talk to the vendor you bought from to find out for sure.
If you’re considering an energy-related project before the cold weather really arrives, it’s time to get on the ball and schedule that work. Play your cards right and you may be able to offset some of your tax burden this coming April.
Those looking to improve the energy efficiency of their home without breaking the bank should check out the Energy Savers website. They have information and tips about everything from appliances, to windows, to even landscaping. Where else could you find a detailed discussion of whether it makes sense to turn off your fluorescent lights every time you leave the room?