Tip of the Day - Green home changes good for taxes
Make green home plans for 2009 and reap the benefits next tax season.
If you're familiar with the tax credits from 2007, which weren't approved in time for 2008, than you'll be happy to know that they are coming back in 2009. By planning any green-energy changes to your home in the coming year you could save up to $500 on your taxes in 2009. It only applies to the energy-efficient equipment you bought, not the labor to install it, and the max for claiming on your projects is $500 or up to 10% of the cost of certain qualifying projects, whichever is less. Here is the breakdown per project:
- Windows: $200
- Exterior doors, roofing or insulation: $500
- Most heating, ventilation and air-conditioning improvements: $300
- Furnaces or hot water heaters: $150
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