I know in various past times upgrades for things like storms, insulation, energy efficient boilers, solar panels, etc have been tax deductible or tax credits applicable.
but I hear that is gone currently.
Does anyone know for sure wyhat is coming new year and when it begins, exactly what it applies to?
My brother and his wife just bought a new house and theboiler needs replacingto a high efficiency unit ( it is worn out anyways but still functioning -just not well) so I thought he might want to engineer the event to happen after the first of the year for tax purposes IF there is a credit coming up then.
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I don't believe there are any fed programs currently, although I expect that will change sometime after Jan 22 (or so) Tough to say what the details will be.
There may be state programs available.
"Ask not what the world needs. Ask what makes you come alive... then go do it. Because what the world needs is people who have come alive."
Howard Thurman
All ready been passed by the feds, starting Jan 1.
They kind of forgot about this year. Specifics are coming, Maybe Bill Hartman can help. Of course you will have to go to Quittintime to find out as he is one of the banned!
Your local power utility can probably tell you what incentives are available thru the government as well as their own.
There's a concept called "Avoided Cost" in the utility industry which they can use to give incentives to upgrade. Improving the energy effeciency of the end users lets them avoid (or delay) the costs of upgrading their generation, production, and distribution facilities.
Googled around and found this tidbit of info: http://www.energy.gov/taxbreaks.htm
Now I have an excuse for putting off additional attic insulation for at least another month.
http://www.dsireusa.org/index.cfm?EE=1&RE=1
Does anyone know for sure wyhat is coming new year and when it begins, exactly what it applies to?
Most of the things begin January 1, 2009. Take a look at the coming credits. It just has to "On or After" Jan. 1st as IRS defines it... Look down toward the middle/bottom of the webpage.
The IRS defines "placed in service" as when the property is ready and available for use.
http://www.energystar.gov/index.cfm?c=products.pr_tax_credits
Bill
Thanks everyone. Emailing these links to brother now.
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