Federal Tax Credits Extended

On October 3, 2008, President Bush signed into law the Emergency Economic Stabilization Act of 2008.
Woman throwing moneyThis bill extended tax credits for energy efficient home improvements, including:
  • windows
  • doors
  • roofs
  • insulation
  • HVAC
  • non-solar water heaters
Tax credits for these residential products, which had expired at the end of 2007, will now be available for improvements made during 2009.
However, improvements made during 2008 are not eligible for a tax credit.
The bill also extended tax credits for solar energy systems and fuel cells to 2016.
New tax credits were established for small wind energy systems and plug-in hybrid electric vehicles.
Tax credits for builders of new energy efficient homes and tax deductions for owners and designers of energy efficient commercial buildings were also extended.
For more, visit EnergyStar or talk to your tax adviser.

American Apartment Owners Association offers discounts on products and services related to your commercial housing investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

To subscribe to our blog, click here