Replacement Window Tax Incentive

NEW STIMULUS BILL TO EFFECT TAX INCENTIVE!

February 17, 2009 Energy Tax Incentives Will Benefit Homeowners!

If you are considering purchasing replacement windows, remember that the energy tax incentives included in the Emergency Economic Stabilization Act of 2008 can help save YOU MONEY! This modified legislation, effective February 17, 2009 provides consumers with tax credits for making their homes more energy efficient. If you purchase Atlantic Aluminum’s Energy Star qualified replacement windows by Gorell you’ll save twice-first with the tax credit and secondly by dramatically lowering your home’s energy bill during the winter and summer months!

READ THE FINE PRINT! The tax credit is available only for the most efficient energy star windows on the market. Atlantic Aluminum is one of the few companies to offer qualifying windows. So, regardless of what company you choose to install your new windows, remember that to meet the requirements of the tax credit, you must invest in a window with a U-Factor and Solar Heat Gain Coefficient of under 0.3.

How the Energy Tax Incentive can help you!
The energy tax incentives act does three important things:
1-It provides a consumer with a tax credit for up to $1500 for 30% of the cost of qualified remodeling projects with improve the energy efficeincy of an existing home.
2-Applies to improvements made from January 1, 2009-December 31, 2010.

Tax Credit vs Deduction

If you are wondering what the difference is between a tax credit and a tax deduction, the $1500 tax credit is not a deduction-deductions are used to calculate your total taxable income. This new tax credit is much better! You get to apply the tax credit directly to the balance due to the IRS on your tax return (or increase your refund). Whether your taxable income is $20,000 or $1,000,000 you will receive your full credit.

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