Merry Christmas from the Families
of Around The Town Heating and Cooling!
Only 7 days left to the deadline of the purchase of your new furnace or boiler that qualifies for the energy tax credit.
If you do not have your high efficient furnace or boiler installed by the 31st you will no longer have the opportunity to receive up to 30 % of the installation as a write off of your taxes!
Here’s some good news if you are or were not able to install a new furnace or boiler under the qualifying tax credit program: just the other night the A late night vote on Thursday by the House of Representatives gave final approval to the tax relief and benefits package, passed by the Senate on Wednesday.
Among the items included is a one-year extension of the 25c tax credit, returned to pre-stimulus levels. Some specifics of the bill as they relate to 25c.:
- Eligible taxpayers can claim up to $500 in 2011.
- An individual or household lifetime cap of $500, which dates back to January 2006. For example, if an individual has claimed the 25c tax credit since 2006, for any qualifying upgrade up to or over $500, they would be ineligible to claim the credit in 2011.
- As of January 1, 2011, the new credit levels will be:
- $50 for any advanced main air circulating fan
- $150 for any qualified natural gas, propane or oil furnace or hot water boiler.
- $300 for any item of energy-efficient building property
- All efficiency levels stay at the current levels, except for natural gas and propane hot water boilers, and oil hot water boilers oil furnaces, which will move to 95% AFUE.
If you have any questions relating to the 25c tax credit or other items in this legislation, please contact Jonathan Melchi, Manager of Government Affairs, at email@example.com or 1-888-253-2128!