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$1500 Tax Credit
How Can The New Energy Tax
Incentives Benefit You?
If you’re considering purchasing
replacement windows, you should know that the energy tax incentives
included in the American Recovery & Reinvestment Act can help
you save money.
This legislation provides consumers with tax credits for making their
homes more energy efficient. Installing new energy efficient
replacement windows is one way to make your home more energy efficient.
Purchase Gorell ENERGY STAR® qualified windows and you’ll save twice -
first with the tax credit, then by significantly lowering your home
energy usage!
The American Recovery &
Reinvestment Act:
- Provides a consumer tax
credit up to $1,500 for 30% of the cost of qualified remodeling
projects that improve the energy efficiency of an existing home -
including replacement windows.
- Applies to improvements made
from January 1, 2009 through December 31, 2010 including replacement
windows.
- Applies to replacement
windows and doors with a U-value of at least 0.30 and solar heat gain
coefficient of at least 0.30.
For
more information go to
http://www.energystar.gov/index.cfm?c=products.pr_tax_credits
How can the tax credit help you?
Simply purchase Gorell ENERGY STAR® qualified replacement windows now
and - when you file your income taxes - you'll be able to take
advantage of the tax credit. Compliance is easy - use the ENERGY STAR®
rating label-found on all Gorell ENERGY STAR® qualified replacement
windows or the Manufacturer's Certification Statement to claim the
credit.
Tax Credit vs. Deduction
The $1,500 tax credit is not a deduction. Deductions are used to
calculate your total taxable income. This new tax credit is much more
advantageous than a deduction because you apply the tax credit directly
to the balance due the IRS on your tax return - or increase your
refund. Whether your taxable income for 2009 is $20,000, $75,000 or
$1,000,000, you will receive the full $1,500 reduction to your tax
payment - or a $1,500 increase to the amount of your refund.
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