Tuesday, October 6, 2009
Thursday, October 1, 2009
Sunday, September 27, 2009
Monday, September 21, 2009
Tuesday, September 15, 2009
- It must be a high-efficiency household appliances, furnaces and air-conditioning systems
- Congress authorized $300 million for the program earlier this year as part of the federal economic-stimulus bill.
- Appliances covered by the program include dishwashers, washing machines and refrigerators. They must carry Energy Star ratings, to show they meet energy-efficiency standards set by the Environmental Protection Agency and Department of Energy.
- Best part, you don't have to trade in your old appliances, unlike the cash-for-clunkers program!
Wednesday, September 9, 2009
Tuesday, September 1, 2009
Monday, August 31, 2009
Friday, August 28, 2009
§ To be considered, a stove must use the burning of biomass fuel to heat a dwelling unit or to heat water for use in such a dwelling unit, and have a thermal efficiency rating of at least 75% as measured using a lower heating value;
§ Installation is covered, as long as it is a requirement for the stove's proper and safe functioning;
§ This consumer tax credit is 30% (up to $1500) for the purchase and installation of a 75% efficient stove, and is available in both 2009 and 2010;
§ The tax credit is an aggregate, i.e., the total $1500 can include other energy efficient items. For instance, if a consumer claims $900 on a new stove, then he will have $600 to purchase additional energy saving products in the same tax year;
§ If a taxpayer uses the entire $1500 tax credit on a competing product then they cannot use it for a biomass stove in that same tax year;
§ This credit applies only to existing principle residences;
§ Manufacturers must provide a certificate of qualification for each product as required in the guidance which can be obtained for the customer to use;
§ Taxpayers must retain the certification statement for tax recordkeeping purposes, but the certification is not required to be attached to the tax return;
§ Prior purchases made between January 1, 2009, and June 1, 2009 are covered if the manufacturer offers a certificate of qualification for the product;
§ If a manufacturer has documentation that a stove has already achieved the required efficiency rating, no further testing is required;
§ The IRS has not stated that inserts are covered, or are not covered, but based on EPA's practice of treating inserts and freestanding biomass stoves in a similar fashion, manufacturers may choose to include inserts.
Monday, August 17, 2009
Bamboo, it’s not just for panda’s anymore. Now, it’s for you too! Bamboo flooring is a big hit right now in the design market. Like Shaws products, this stuff is perfect for you tree-huggers, because well, it’s not tree, it’s bamboo! You might be thinking “I’m no fool, I know I’m still cutting down a plant. Still not environmental.” Think of bamboo like you would your kids, they just seemed to sprout up over night. Unlike, say an oak tree, which might take 120 years to get to it’s full size. Additionally, most bamboo is grown on controlled farms in China, which means the entire rainforest isn't being wiped out. Yea!, like Bambie, Toucan Sam get’s to keep his home too!
Friday, August 14, 2009
- Product must be installed from January 1, 2009 - December 31, 2010
- This tax credit applies to non-business properties only
- Product must be installed in taxpayer's principal residence
- Windows and doors meeting the following criteria are eligible
A U-Factor of less than or equal to 0.30
A Solar Heat Gain Coefficient of less than or equal to 0.30
- If you are building a new home, you can qualify for the tax credit for geothermal heat pumps, photovoltaics, solar water heaters, small wind systems and fuel cells, but you will not qualify for the tax credits for windows, doors, insulation, roofs, HVAC, or non-solar water heaters
- The amount of the rebate is calculated by determining 30% of the homeowners cost
- The maximum credit amount is $1,500
- All claims must be submitted with your taxes for the year that the products were installed
- Manufacturer's Certification Statement for products purchased between January 1 - June 1, 2009
- Manufacturer's Certification Statement for products purchased after June 1, 2009
- Improvements made in 2009 will be claimed on your 2009 taxes - filed by April 15, 2010
- All claims will be submitted using your IRS Tax Form 5695 available in late 2009 or early 2010