Sunday, February 3, 2008

Tax savings for "greening" your home

So I just got done with my taxes, which was quite fun this year. I love deductions! Anyway, I was reminded of all the deductions/credits you can get if you improve the energy efficiency of your home. On line 50 of the 1040 there is a Residential Energy Credit. It may be too late for this year, but make sure you save all your reciepts for buying insulation/windows/doors/furnace/hot water heaters and the such. Refer to the 1040 publication for all details. There is the opportunity for credits for buying an alternative fuel vehicle (form 8910), credit for alcohol for fuel, getting an electric car. I think that's it for the most part.

SAVE THOSE RECIEPTS!

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