How To Get An Energy Tax Credit

An energy tax credit is a deduction you can get on your taxes for purchasing certain energy efficient items. The federal energy tax credit will give you up to a certain amount in exchange for you buying things like EnergyStar approved windows, doors, insulation, geothermal heat pumps, solar cells, and so on. There is a rather long list of approved items at the EnergyStar site. The government is hoping to encourage consumers to go green and help them afford to do so, which is definitely a good thing.

You can even get a tax credit for purchasing an energy efficient hybrid vehicle. While the Prius is the most popular and well-known eco-friendly hybrid on the market there are many others for which the tax credit applies. There are certainly plenty of benefits when it comes to purchasing a hybrid vehicle. These vehicles are great on gas and do not emit the dangerous pollutants the way non-hybrid vehicles do. So if you are thinking of upgrading your vehicle, there are many reasons to choose a hybrid car, truck, SUV.

So now you know two ways you can get energy tax credits. Number one, you can purchase certain energy efficient household products. Number two, you can purchase a new hybrid vehicle. This sounds quite simple and in some cases it is, but you need to know what kind of items apply and when they must be purchased in order to receive an energy efficiency tax credit. There is a great deal of information on tax credits of all kind at the IRS website, customer service representatives can help you over the telephone. They offer detailed help and are able to answer all your tax related questions.

Now that you are aware of some of the energy tax credit programs in place, you have an even bigger reason to live a green life. Not only will you be helping the planet on which you live, you will be saving money on your taxes. If you need ideas to help you go green, there are lots of books at the bookstore and/or library that can coach you in the art of being more environmentally friendly and upgrading your home and vehicle. You might also want to check out magazine articles and news stories on doing your part for the environment.






 

 

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Child Tax Credit News:

 

Earn tax credit for using child care
Arthur Murphy, district manager and enrolled agent for H&R Block, gives an overview of the requirements that must be met for taxpayers to claim the Child and Dependent Care tax credit...


Mistakes with Reporting Social Security Disability Income Can Be Costly at Tax . - Houston Chronicle

Mistakes with Reporting Social Security Disability Income Can Be Costly at Tax .
Houston Chronicle
Taxpayers who pay someone to care for a dependent or spouse with physical or mental impairments may be able to take a credit of up to 35 percent of day care costs while they are working or looking for work. Increased standard tax deduction.

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GOP to drop child tax credit cut
Republicans agreed to drop a child tax credit cut that would mainly impact undocumented immigrants with children who are U.S. citizens in a tentative deal to extend the payroll tax extension...


UNDOCUMENTED WORKERS CHILD TAX CREDIT TARGETED
Hundreds of thousands of undocumented immigrants have received IRS refunds based on the federal child tax credit, and now congressional Republicans are trying to stop the practice...


GOP Seeks To Deny Child Tax Credit To Undocumented Immigrants
WASHINGTON -- Republicans are looking to deny child tax credits to undocumented immigrants--refund checks averaging $1,800--in an effort that has roused anger among Hispanics and some Democratic lawmakers...


 

 

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