Looking to save money on your next new Garage Door installation? The Government got your back!
Tax Credit for Garage Door Installation
Under the 2009 stimulus legislation signed by President Obama, Garage Doors are eligible for energy tax credit. It is time to take advantage and use the savings to increase the value of your home, reduce your taxes by $1,500, and save money reducing your energy bills.
According to this provision, you must meet the following criteria to be eligible for the tax credit.
- Section 1121 - Residential Energy Property Credit - The new law increases the credit rate to 30 percent of the cost of all qualifying improvements and raises the maximum credit limit to $1,500 for improvements placed in service in 2009 and 2010. Following are types of projects covered under Section 1121:
- Energy efficient exterior windows
- Energy-efficient heating and air conditioning systems
- Section 1122 - Credit for Residential Energy Efficient Property - This nonrefundable energy tax credit will help individual taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, geothermal heat pumps and wind turbines. The new law removes some of the previously imposed maximum amounts and allows for a credit equal to 30 percent of the cost of qualified property. Following are types of projects covered under section 1122:
- Solar electric. 30 percent of the qualified solar electric property expenditures made by the taxpayer during the taxable year;
- Solar water heater. 30 percent of the qualified solar water heating property expenditures made by the taxpayer during the taxable year;
- Fuel Cell Property: The lesser of-- 30 percent of the qualified fuel cell property expenditures made by the taxpayer during the taxable year; or $500 for each half kilowatt of capacity of the qualified fuel cell property to which the expenditures relate;
- Geothermal Heat Pumps: 30 percent of the qualified geothermal heat pump property expenditures made by the taxpayer during the taxable year.
- Wind Turbines: 30 percent of the qualified small wind energy property expenditures made by the taxpayer during the taxable year;
- Labor Included
Call us now to save!!
There is a great inventive to replace your garage doors, it is the time to buy your new garage door now. The new garage door will save you money in the short and long term. Don’t wait – call us today and start saving money!
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