Wednesday, October 20, 2010

30% Tax Credit on Window Film Runs Out Dec 31 2010

Under section 25C of the Internal Revenue Code (I.R.C.), homeowners can receive a 30 percent credit on the costs of "qualified energy efficiency improvements," including Solar Gard solar control window film on windows, doors, and skylights. This tax credit applies only to improvements made to a primary residence from Jan. 1, 2009 through Dec. 31, 2010. These credits expire at the end of 2010.

A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces your tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. If you can itemize energy-related purchases on your federal income tax form, it will lower the total amount of tax you owe the government.

Homeowners can receive a 30 percent credit on the cost of the window film, up to $1500. Installation costs do not apply, only the cost of the film. This credit is in addition to any previous credit used.

Eligible windows are double pane, with vinyl or wood frames...

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