The recently signed Economic Recovery and
Stimulus bill offers Federal Tax Incentives to replace old & inefficient
home products with new energy efficient products. The details of
this plan have recently been finalized. Not all replacement window
products will qualify. They must meet standards which EXCEED
current Energy Star requirements. Specifically, qualifying windows
must have a "u-value" and a Solar Heat Gain
Co-efficiency (SHGC) of less or equal to than .30.
Products that do not meet these levels will NOT qualify for the
credits.
In addition to stricter requirements, the amounts available have been
raised to $1,500 per homeowner, up to 30% of the cost of
the replacement products! This is substantially different than
previous years where only $500 or 10% was available.
Call us today to discuss your project and we will help you select the
correct products that will meet these requirements. Most
manufacturers are revising their production to meet the codes, but we'll
help you find the items that qualify TODAY so there are no questions
when it comes time to file.
Unfortunately, products used in new construction are not eligible for
the tax credit, only new products used to replace presently installed
windows or doors.
Call Mark, Scott, Tom or Daron at 763-390-0763 or email
daronmeyer@tektonhome.com and we can discuss
which products are eligible for the credit and how you can maximize your
stimulus credit!
Tax Credit How-to
Details on qualifying improvements are available on the
Energy Star Web site. Certification statements in the
manufacturer's product information may suffice.
Home owners can claim the 25C and 25D credits on
Form
5695 when preparing their income tax returns. Retain records
that include:
- Name and address of the manufacturer
- Identification of the component
- Make, model or other appropriate identifiers
- Statement that the component meets the 25C standards
- Climate zones for which the criteria are satisfied
- Additional information for storm windows, if applicable
- A declaration that the certification statement is true
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