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2009/2010 Energy Tax Credit
The American Recovery and Reinvestment Act of 2009 provides several energy conservation incentives for homeowners. When taxpayers purchase Simonton replacement windows in 2009 and 2010, that meet the energy efficiency requirements set forth by the legislation, they are eligible to receive a tax credit of up to 30% of the purchase amount on qualifying windows and doors.
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2009-2010 Energy Tax Credit Quick Facts
On February 17th, President Obama signed the $789 billion economic stimulus bill that includes tax credit incentives for homeowners who make energy-efficient home improvements. The bill extends eligibility for tax credits through 2010 on energy-efficient improvements including qualifying windows and doors!
The bill includes the ability for homeowners to receive a tax credit of 30 percent of the cost of qualifying energy-efficient products up to a maximum of $1,500 per household for all improvements made in 2009 and 2010.
The requirements to qualify for the new energy tax credit include:
1. Windows purchased must be equal to or below a U-Factor of 0.30 and a Solar Heat Gain Coefficient (SHGC) of 0.30.
2. The purchase of the qualified windows must be made during the taxable year for which the credit is being claimed.
3. The credit is only allowed on the price of the qualified windows themselves, not on installation costs, onsite preparation, assembly or sales tax.
4. The tax credit is allowable only for qualified window units placed in service in 2009 and 2010.
5. Homeowners must save their receipts for their windows purchased along with all window labels and stickers for verification and tax recordkeeping.
6. The windows must be installed in the taxpayer's principal residence.
7. This tax credit is capped at a total of $1,500 for the years of 2009 and 2010.
8. Unlike a tax deduction, which only reduces the amount of your taxable income, a tax credit reduces the amount of tax you owe.
For more information about 2009-2010 Energy Tax Credit please call our sales representatives at: (281) 852-0852 or send your questions to "taxcredit@glasswithclass.com"
