http://greenegarden.org/environmentally-conscious/energy-efficient-improvements-qualifying-for-tax-credits Eco Friendly Gardening Information Thu, 09 Jun 2011 00:56:54 -0700 http://wordpress.org/?v=2.8 hourly 1 http://greenegarden.org/environmentally-conscious/energy-efficient-improvements-qualifying-for-tax-credits/comment-page-1#comment-2 Learn more about energy efficient improvements and available tax credits. | Greenegarden.org Tue, 01 Sep 2009 03:04:29 +0000 http://greenegarden.org/?p=92#comment-2 [...] Unlike tax deductions, tax credits directly reduce the amount of tax you owe. If the project involves renewable energy (solar, wind, geothermal), the cap is waived and the credit can be carried over to future years. I you are subject to the Alternative minimum tax, you might want to get your projects done in 2009 because the tax credits will be limited by the AMT in 2010 unless congress changes the law. To claim energy efficiency credits, you will need to file IRS FORM 5695 with your taxes for the year which the job was finished. Be sure to keep all manufacturer paperwork such as the Manufacturer’s Certification Statement as well as all receipts and itemized bills. Federal energy tax credits do not cover appliances, programmable thermostats, and room air conditioners but state governments as well as utility companies often offer rebates on such energy efficient models. Click Here for qualifying energy efficient improvements. [...] [...] Unlike tax deductions, tax credits directly reduce the amount of tax you owe. If the project involves renewable energy (solar, wind, geothermal), the cap is waived and the credit can be carried over to future years. I you are subject to the Alternative minimum tax, you might want to get your projects done in 2009 because the tax credits will be limited by the AMT in 2010 unless congress changes the law. To claim energy efficiency credits, you will need to file IRS FORM 5695 with your taxes for the year which the job was finished. Be sure to keep all manufacturer paperwork such as the Manufacturer’s Certification Statement as well as all receipts and itemized bills. Federal energy tax credits do not cover appliances, programmable thermostats, and room air conditioners but state governments as well as utility companies often offer rebates on such energy efficient models. Click Here for qualifying energy efficient improvements. [...]

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