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tax credit for energy saving ?

popawheelie's picture

tax credit for energy saving ? (post #179060)

popawheelie on Tue, 12/08/2009 - 05:17
in

I've heard about the tax credit you can get for making your home more energy efficient.


But how is it done? Should I call my local building authority?


I've been thinking of buying a nice craftsman front door. Insulated of coarse.


"There are three kinds of men: The one that learns by reading, the few who learn by observation and the rest of them have to pee on the electric fence for themselves."
Will Rogers


Edited 12/7/2009 11:17 pm by popawheelie

______________________________________________________________ ______________________________________________________________ There are three kinds of men: The one that learns by reading, the few who learn by observation and the rest of them have to pee on the electric fence for themselves. Will Rogers
-A +A

For insulation/energy (post #179060, reply #1 of 11)

by RedfordHenry in reply to popawheelie [original] on Wed, 12/09/2009 - 17:45

For insulation/energy upgrades, I believe a homeowner can claim a maximum of $1500 for qualified building materials installed in 2009-2010. This is only for the actual materials, not installation.

Say you put in a door that cost $500, and another $500 for installation. You could only claim the actual cost of the door.

You will simply include the amount that you spent on qualified materials on your tax return. For your records, you will need to obtain a manufacturer's certification statement (usually via a website) that their door, window or insulation materials qualify (not all doors and windows do). You will also need to save copies of any receipts. Don't need to furnish these materials to the IRS, but you are supposed to have them just in case you are audited.

Just because a door is "insulated" doesn't mean it will qualify for the credit. You need to check with the manufacturer to confirm that whatever make/model door you are selecting actully meets the criteria.

Thanks for the reply. I'll (post #179060, reply #3 of 11)

by popawheelie in reply to RedfordHenry [original] on Thu, 12/10/2009 - 08:43

Thanks for the reply. I'll ask at the door place.
I want to buy a new front door and give it to my wife for Christmas. If I can't get a tax break that's fine.

______________________________________________________________ ______________________________________________________________ There are three kinds of men: The one that learns by reading, the few who learn by observation and the rest of them have to pee on the electric fence for themselves. Will Rogers

Try this site and then check (post #179060, reply #6 of 11)

by Virginbuild in reply to RedfordHenry [original] on Thu, 12/10/2009 - 18:50

Try this site and then check out your local participating governmant agency and compare. Local govenments may or may not participate, and if they do it varies in degree.
http://www.energystar.gov/index.cfm?fuseaction=find_a_product.
virginbuild

Upper Michigan

Here's a point my Home Depot (post #179060, reply #10 of 11)

by pixburd in reply to Virginbuild [original] on Sat, 12/12/2009 - 17:11

Here's a point my Home Depot guy brought up -- we are permitted a 15% credit on materials up to $5,000 during '09-'10 tax years -- but, if we claim only a partial energy credit in '09, then we lose the opportunity to get the balance of the $1500 credit in '10. He suggested saving all receipts and using the credit only in '10.

Can anyone confirm this?

Bull Excrement. Look at the (post #179060, reply #11 of 11)

by BillHartmann in reply to pixburd [original] on Sun, 12/20/2009 - 10:47

Bull Excrement.

Look at the IRS and Federal Energy website.

For some strange reason they know more than the expert at HD selling insulation who was the expert last week in Lawn and Garden and who was the expert at the McD's drive up window.

. William the Geezer, the sequel to Billy the Kid - Shoe

This site has a link to the (post #179060, reply #2 of 11)

by BillHartmann in reply to popawheelie [original] on Wed, 12/09/2009 - 17:50

This site has a link to the federal tax credit.

It also has links to each state for local programs. That tax credits or tax deductions from states. Rebates or billing credits from utilities.

Where I am the gas co will give you a small credit for replacing is furnace with a HE one. And the electric company will pay a significant amount, direct to participating HVAC contractors, if you upgrade an AC or heatpump. But the old unit has to be tested and have an SEER below a certain amount.

And note that eff of what the gas and electric will pay for are different that the federal credit.

And both of them have a winterization program where if you hire an approved energy consultant to blower and other test and you make one of the recommended improvements that they will pay for the testing and improvements up to $1200 credit on the utility bill.

And some states, utilities or local gov have low cost loan programs.

. William the Geezer, the sequel to Billy the Kid - Shoe

Thanks for the reply. I'll (post #179060, reply #4 of 11)

by popawheelie in reply to BillHartmann [original] on Thu, 12/10/2009 - 08:45

Thanks for the reply. I'll ask at the door place.
I want to buy a new front door and give it to my wife for Christmas. If I can't get a tax break that's fine.
I can ask though. I'm going out to look today.
Went by and talked to letusbe( from the forum)yesterday.

______________________________________________________________ ______________________________________________________________ There are three kinds of men: The one that learns by reading, the few who learn by observation and the rest of them have to pee on the electric fence for themselves. Will Rogers

The link got lost or I did (post #179060, reply #5 of 11)

by BillHartmann in reply to popawheelie [original] on Thu, 12/10/2009 - 12:31

The link got lost or I did not paste it.

http://www.dsireusa.org/

. William the Geezer, the sequel to Billy the Kid - Shoe

Thanks You! I bought the door (post #179060, reply #7 of 11)

by popawheelie in reply to BillHartmann [original] on Thu, 12/10/2009 - 21:58

Thanks You! I bought the door today.
He gave me a good deal and the process was easy.
I was up-front with him and he was with me.
I kind of knew what i wanted. I'm excited!
It won't get here until after Christmas.
I asked the salesman for a hinge.
I'll wrap it up and give it to my wife as a kind of white elephant pressent.
I don't think I can get anything back tax wise for an un-unsulated front door.
It's an orepac with three lights over three panels in fir. The lights have a prairie craftman wheat design.
My wife should love it.
This is the first new woodwork in the front of the house so it kind of sets the style for other elements down the road. Craftman prairie works for me and I don't have to have everything match exactly. I figure you can mix a little. Sorry, I don't have a picture.

______________________________________________________________ ______________________________________________________________ There are three kinds of men: The one that learns by reading, the few who learn by observation and the rest of them have to pee on the electric fence for themselves. Will Rogers

It is too easy to look at (post #179060, reply #8 of 11)

by BillHartmann in reply to popawheelie [original] on Fri, 12/11/2009 - 07:54

It is too easy to look at potential tax savings/rebates/etc and not get what you really want. DAMHIKT.

. William the Geezer, the sequel to Billy the Kid - Shoe

I agree. I know people who (post #179060, reply #9 of 11)

by popawheelie in reply to BillHartmann [original] on Fri, 12/11/2009 - 10:05

I agree. I know people who seem to always make descisions based on cost and seem to come out on top.
I've never been good at it though.
But I am good at going the extra mile and making things that look good and last.
So I might as well stick with what I'm good at.

______________________________________________________________ ______________________________________________________________ There are three kinds of men: The one that learns by reading, the few who learn by observation and the rest of them have to pee on the electric fence for themselves. Will Rogers