Tax Incentives for Energy Savings Are Better than Ever

There’s no break yet for installing a low-flush toilet, or planting sod on your roof.

But there’s a new or expanded federal tax incentive this year for just about every other green improvement for your home . . Check out the ULTIMATE GREENOVATION Tax Credit & Rebate Guide for detailed information.

The new law takes off all the dollar caps on the 30% credits you can claim for installing expensive solar, geothermal and wind energy systems in your home.  Which means $7,000 back on a $21,000 system.

. . . The stimulus also offers a $1,500 tax credit for the average Joe who’d like to upgrade his attic insulation, install a storm door or energy-saving windows, or buy a new furnace before energy prices spike again.

During 2009 and 2010, you can claim a 30% credit on the first $5,000 you spend on energy-efficient home improvements. That’s a $1,500 credit–unlike a less valuable deduction, it reduces your tax bill dollar for dollar. READ MORE

From: Forbes

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