Federal Tax Credits for Energy Efficiency

[David]

Thought this might be useful.

Federal Tax Credits for Energy Efficiency : ENERGY STAR
The Energy Policy Act of 2005 includes:

• Tax Credits for Consumers
  • Home Improvements
  • Cars
  • Solar Energy Systems
  • Fuel Cells
• Tax Credits for Home Builders
• Tax Credits for Appliance Manufacturers
• Tax Deductions for Commercial Buildings

Remember, a tax credit comes right off your federal tax bill. So, if you owe $10,000 in federal income tax and get a $2,000 tax credit, your overall liability is reduced to $8,000. Much, much better than a tax deduction/writeoff.

[Xaquin44]

hmmm

all those links lead me to the forums.

Am I messing up or is it the original post?

[MMDad]

Try the very first link at the top.

[aps45819 (Premo)]

That's why don't I get an "energy efficent" tax cut on my bike. I get better gas milage then a lot of hybrids. Think they ought to call it a "new technology" tax cut since it's NOT about being energy efficient.

[Xaquin44]

Originally Posted by MMDad

Try the very first link at the top.

/facepalm

thanks

[RadioCtrlDWife]

Originally Posted by David

Thought this might be useful.

Federal Tax Credits for Energy Efficiency : ENERGY STAR
The Energy Policy Act of 2005 includes:

• Tax Credits for Consumers
  • Home Improvements
  • Cars
  • Solar Energy Systems
  • Fuel Cells
• Tax Credits for Home Builders
• Tax Credits for Appliance Manufacturers
• Tax Deductions for Commercial Buildings

Remember, a tax credit comes right off your federal tax bill. So, if you owe $10,000 in federal income tax and get a $2,000 tax credit, your overall liability is reduced to $8,000. Much, much better than a tax deduction/writeoff.

Thanks- I will show this to my father in law who does my taxes. I know we are qualified for that insulation credit to its max. There is no better investment than energy conservation, IMHO.
I would like to invite Mr Patch to our house so he could see how one makes a home appreciate in this market with a few thousand dollars of materials, some thoughtful engineering to contour to the home's energy profile, and some sweat.
We just got a very pleasant surprise when reappraised for a refi, in part because because the appraiser loved our "Apollo 11" look with all the reflectex on every single bit of concrete of our lower level. He loved the fact our heat bills that are but a small fraction of the bills paid by the previous owners.
Have a Five Bar Day,
Bill Signal Bars R Us

[MMDad]

Originally Posted by aps45819

That's why don't I get an "energy efficent" tax cut on my bike. I get better gas milage then a lot of hybrids. Think they ought to call it a "new technology" tax cut since it's NOT about being energy efficient.

What's more efficient: six people on bikes like yours riding up to DC or six people in my wife's minivan riding up to DC?

I want my tax cut, dammit!

[aps45819 (Premo)]

Originally Posted by MMDad

What's more efficient: six people on bikes like yours riding up to DC or six people in my wife's minivan riding up to DC?

I want my tax cut, dammit!

If you're carrying 5 passengers on a regular basis, I would expect that they are chipping in on gas and parking. Since you're not claiming this as income, there's your tax break

My bike with one person compared to the SUV with one person, the pickup with one person, the V6 sedan with one person or the 4cyl coupe with one person?
The bike wins.
How many vehicals do you see with 2 or more people during your commute?

[MMDad]

Originally Posted by aps45819

How many vehicals do you see with 2 or more people during your commute?

None, and you know that.