Green Daily

Did you install energy efficient windows or doors on your home in 2007? If you did you, may be able to save up to $500 on your tax bill in tax credits. For eligible windows or skylights you can take a tax credit for 10% of what you paid up to a total of $200 in tax credits. So if you paid $1,500 for the windows or skylights, you could reduce your tax bill by $150. For qualified doors storm doors the write off is the same as for windows, but for a new exterior door you may be able to write off 10% of the cost up to $500.

In order to qualify for the write offs the windows, skylights or doors must be qualified ENERGY STAR products (you see that on the product when you buy it) and they must be installed in your primary home. You can't take this write off if the installation was done in a second home or vacation home. If you don't have proof that your windows, skylights or doors qualified, contact the company that did the installation. If they do qualify, the installer should be able to supply you with a manufacturer's certification statement. You'll also need to save your receipt for tax purposes.

Want to save money next year?

Check out the Green Daily Guide to Home Energy Efficiency. Get money-saving tips, tricks, and how-to videos for every homeowner. Not only will you save on your utility bill, next year you may be able to write it off your taxes too if legislation now pending in Congress passes to extend the tax credits to 2008!