December 3, 2011

The IRS recently posted a reminder to homeowners that there is still time this year to make energy-saving and green-energy home improvements and qualify for credit.

The first of these credits, termed “The Nonbusiness Energy Property Credit”, is aimed at homeowners who install energy-efficient improvements such as insulation, windows, and furnaces. The credit is more limited than in the past years, but can still provide substantial tax savings. The following is a summary of this 2011 credit:

The second credit, termed “Residential Energy Efficient Property Credit,” is designed to spur investment in alternative energy equipment. The following is a summary of this 2011 credit:

Not all energy-efficient improvements qualify for these tax credits. Homeowners should check the manufacturer’s tax credit certification statement before they purchase.

For more information on Home Energy Credits for 2011, contact our office.

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