Stimulus Tax Credit

Time To Replace That Old, Inefficient Furnace Or Air Conditioner?

With tax incentives and rebates, now may be the best time replace your old, inefficient furnace and air conditioner with a new energy efficient system. These systems are designed to keep you and your family warm and cozy in the winter and cool and comfortable in the summer while significantly lowering your monthly utility bills.

We Make It Easy

You may be confused about this program, but don’t worry, we are experts on this and we will guide you through the entire process.

How the Program Works

In an effort to reduce dependence on foreign sources of energy, the American Recovery and Reinvestment Act of 2009 provides a tax credit to help offset the costs of making energy efficiency improvements to your home. Some key details of the program are as follows:

• The tax credits apply to a variety of products (including installation costs) such as windows, doors, heating and cooling equipment and more.
• The amount of the credit is equal to 30% of the installed cost of the qualifying products, up to a total of $1,500.
• If a qualifying purchase is not large enough to qualify for the maximum credit of $1,500, the remaining available tax credit can be claimed for additional qualifying purchases.
  

The Economic Advantage of Tax Credits

Chicago area homeowners are excited about this program because tax credits, unlike deductions, are subtracted directly from the total amount you owe on your personal income taxes. For example, if you complete your tax return and calculate that you owe the IRS $2,000, a tax credit of $1,500 will reduce your tax bill to only $500. Of course, be sure to check with your tax adviser on how to best take advantage of the tax credits.

Tax Credits Available in 2009 and 2010

To take advantage of the American Recovery and Reinvestment Act of 2009 tax credits, you must purchase your qualifying high-efficiency comfort system before December 31, 2010.

State and Federal laws and regulations are subject to change. Not all purchasers may qualify for energy efficient federal and state tax credit. Please consult with a tax or financial advisor for further help.