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Home · Property Management · Latest News : Don`t Miss These Valuable Energy Tax Credits

 by Sheldon Neal
Woman throwing moneyIn an effort to reward homeowners for energy efficient upgrades to their homes, the recent Stimulus Bills included some very valuable additional tax credits!

Water Heater, Boiler, or A/C new Installations

A tankless water heater installation with a 90% + efficiency gets you a 30% federal tax credit up to $1,500.00. This may also qualify for a gas utility rebate of $300.00. Total job deduction $1,800.00.

If the total job was $5,000.00 the deduction would be approximately one third of the job right off the bat. Same deductions go for boiler & A/C installations.

Newly Installed Energy Efficient Certified Windows & Doors Qualifying Windows and Doors purchased between February 17, 2009 and December 31, 2010 are eligible for a tax credit equal to 30 percent of the product cost up to a maximum credit of $1,500.

I myself took advantage of this one and received a certified letter from the Window and Door company that I can submit to my accountant at tax time, and bingo! … $1,500 cash savings right back in my wallet! These installations must be “placed in service” from January 1, 2009 through December 31, 2010, and must be for taxpayer’s principal residence, but if you were ever considering upgrading your home’s utilities or windows and doors for better Energy Efficiency,  NOW is the time to do it, as you will get a portion of your cost paid for you in these specified cases.

Sheldon Neal is a Realtor(R) with RE/MAX REAL ESTATE LTD, serving buyers and sellers in Bergen County, NJ.  You can contact Sheldon for more info on these tax credits, or any other real estate questions at 201-481-2891, or email at [email protected].

American Apartment Owners Association offers discounts for landlords on products and services related to your rental investment, including real estate forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

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  • PJ Worley

    It would benefit everyone if the government offered these tax incentives to landlords as well. I think it’s short sighted to offer them exclusively to homeowners.

    If there is a willing organized group of investors/landlords of single family and apartment buildings, it’s a good cause and benefits the tenants, the environment, manufacturers, investors and creates significant jobs. In fact I don’t see any downside to offering these incentives to commericial property owners/REITS/etc., as well.

    PJ

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