Tax Credit 2009 Windows
If you are planning to replace some --- or all â€“ of the windows and doors in your home, then you couldn't have picked a better time. Currently, homeowners can receive a tax credit of %30 of the cost of any energy-efficient windows and doors (those that qualify) up to $1,500. This is a great opportunity for homeowners as the previous tax credit for these windows and doors was $200 for windows and $500 for doors. However, since the inception of the American Recovery and Reinvestment Act (or Stimulus Bill) was passed, a new provision has been in place to triple to older credit.
Moreover, this is not just a handout to homeowners. To properly qualify, homeowners must have the ability to purchase the most energy-efficient windows they can find; the old method of Energy Star certification only no longer applies without consideration of the energy efficiency factor. Moreover, better quality windows will help you save on energy bills and help maintain a certain level of comfort all year long. How to Know Which Window and Door Models Qualify? It should be noted that only those windows and doors that have a U-Factor of .30 or less will qualify for the credit. This is the measure of how energy-efficient the window is; most windows have a factor of .31 or .32, which means they won't qualify. Qualifying windows and doors must also have a Solar Heat Gain Coefficient (SHGC) of .30 or less, as a low SHGC blocks some of the heat coming in through the windows during the summer time. This means a lighter load for your air conditioning unit. Both the SHGC and the U-Factor are tested independently and verified by the National Fenestration Rating Council and should display a sticker saying so. Tips of Making Sure Your Windows Qualify To get the $1,500 credit, it's important to be a smart shopper. After all, there are a number of window and door products that don't meet the right standards, even some of the higher end brands. There is much confusion in the market about the credit so it's important to be educated about what is and is not allowed. Homeowners should start by checking the U-Factor and SHGC for your replacement windows and doors. If a company can't show the NFRC sticker with the rating, find a company that will. You can also check the NFRC's Web site to verify ratings, as well. To claim the $1,500 tax credit, you must take the following steps: â€¢ Purchase the replacement window or door with both a U-Factor and SHGC of .30 or less between Jan. 1, 2009 and Dec. 31, 2010. â€¢ Save the receipt and put it with your tax documents. â€¢ Claim the credit on your federal filing for the 2009-10 tax year. There are some terms and limitations to consider, including the fact that the credit is for the cost of the product and does not pay for installation costs. For this reason, ask for a sales receipt that only shows the cost of the product. Moreover, the limit is 30% of the $1,500 max. And the max is the same even if both windows and doors are purchased. Just be sure to do your research to ensure that you can receive the credit for your replacement windows and doors.