Limited Time Left for Tax Credit!
North County Window and Door wants all homeowners to be aware of significant changes to the tax code that took effect as a part of the recent Economic Stimulus bill that was signed into law by President Obama. This law increases the tax credits for eligible window replacement and door installations made between now and December 31, 2010.
On February 17, 2009, President Obama signed a stimulus bill (The American Recovery and Reinvestment Act of 2009) that made some significant changes to the energy efficiency tax credits. The highlights are:
- The tax credits that were previously effective for 2009, have been extended to 2010 as well.
- The tax credit has been raised to 30% of the cost.
- The tax credits that were for a specific dollar amount (ex $300 for a CAC), have been converted to 30% of the cost.
- The maximum credit has been raised from $500 to $1500 for the two years (2009–2010). However, some improvements such as geothermal heat pumps, solar water heaters, and solar panels are not subject to the $1,500 maximum.
Tax Credits for Consumers / Home Improvements
Tax credits are available for home improvements:
- must be “placed in service” from January 1, 2009 through December 31, 2010.
- must be for taxpayers principal residence.
- maximum amount is $1,500 in 2010 for most home improvements.
- for record keeping, save your receipts and the Manufacturer Certification Statement, OR for windows, you can save the ENERGY STAR label from your new windows.
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