Got the taxes done tonight and...

[BucksCounty]

...I am thankful for that energy tax credit.

The tax guy said the credit was also extended for 2011, but not up to the $1500, he thought just up to $500?

Now, best ss liner and price out there? I got the one for the Shelburne from chimney liner depot, thought price was reasonable, and have been pleased with it. Anybody have other suggestions to check out?

 

[yooperdave]

...I am thankful for that energy tax credit.

The tax guy said the credit was also extended for 2011, but not up to the $1500, he thought just up to $500?

Now, best ss liner and price out there? I got the one for the Shelburne from chimney liner depot, thought price was reasonable, and have been pleased with it. Anybody have other suggestions to check out?

the way i understand it, the tax credit is indeed extended for 2011...BUT...only if you have any of the $1500 credit left over from the '09 and '10 tax years. also, next year (or actually this year, but next tax season) you will only be able to take a 10% credit as opposed to the 15% as allowed in the first two years.
i'm sure if i'm wrong, this will be corrected by other members.

 

[HotCoals]

...I am thankful for that energy tax credit.

The tax guy said the credit was also extended for 2011, but not up to the $1500, he thought just up to $500?

Now, best ss liner and price out there? I got the one for the Shelburne from chimney liner depot, thought price was reasonable, and have been pleased with it. Anybody have other suggestions to check out?

the way i understand it, the tax credit is indeed extended for 2011...BUT...only if you have any of the $1500 credit left over from the '09 and '10 tax years. also, next year (or actually this year, but next tax season) you will only be able to take a 10% credit as opposed to the 15% as allowed in the first two years.
i'm sure if i'm wrong, this will be corrected by other members.

It was 30%.
http://www.prweb.com/releases/tax_credit/wood_stove_fireplace/prweb4722994.htm
Looks like it's 10% now.
http://www.chimneysweeponline.com/taxcredit.htm

 

[BrotherBart]

“In the bill, homeowners can claim only up to $500, said John W. Roth, senior tax analyst for CCH, a Riverwoods, Ill., tax publisher. It is also a lifetime tax credit, meaning that if you have claimed the maximum of $500 in past years for home-efficiency upgrades—beginning after Dec. 31, 2005—you can’t do it again.â€

 

[SolarAndWood]

you can’t do it again.

Exceptions are solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems?

 

[Fsappo]

10% up to $300. Do a search under tax, been explained in detail dozens of times since the announcement a few weeks ago

 

[fire_man]

“In the bill, homeowners can claim only up to $500, said John W. Roth, senior tax analyst for CCH, a Riverwoods, Ill., tax publisher. It is also a lifetime tax credit, meaning that if you have claimed the maximum of $500 in past years for home-efficiency upgrades—beginning after Dec. 31, 2005—you can’t do it again.â€

The lifetime credit of $1500 applies only to 2009-2010 tax years. Prior years do not matter, so you can double dip.

"The $1,500 maximum applies to to the total amount of credits claimed for the years 2009 and 2010 combined. That means your tax credits for energy-efficient improvements cannot exceed a total of $1,500 over both 2009 and 2010. "

 

[vixster]

If you spent 1500.00 last year. You do NOT qualify for anything this year. If you spent 490.00 last year, then you qualify for 10.00 this year! So, less of an incentive this year, but still, 500.00 is good for someone who hasn't spent it. I just think it stinks that it is accumulative, because it stops people from spending money in a good/needed area. Fuel Efficiency

 

[double-d]

TAX CREDIT EXTENDED THROUGH 2011 WITH MODIFICATIONS:
Arlington, VA – (December 21, 2010) On Friday, December 17, President Obama signed into law the $858 billion tax package that keeps current tax rates in place and extends a series of tax credits geared toward boosting the sluggish economy. Included in this package was the extension of a tax credit for biomass heating appliances that was set to expire on December 31st.
The new tax credit as outlined provides:

•10% credit for the purchase of biomass heating appliance in 2011, capped at $300
•Credit applies to purchase price only and is not extended to installation

 

[yooperdave]

...I am thankful for that energy tax credit.

The tax guy said the credit was also extended for 2011, but not up to the $1500, he thought just up to $500?

Now, best ss liner and price out there? I got the one for the Shelburne from chimney liner depot, thought price was reasonable, and have been pleased with it. Anybody have other suggestions to check out?

the way i understand it, the tax credit is indeed extended for 2011...BUT...only if you have any of the $1500 credit left over from the '09 and '10 tax years. also, next year (or actually this year, but next tax season) you will only be able to take a 10% credit as opposed to the 15% as allowed in the first two years.
i'm sure if i'm wrong, this will be corrected by other members.

It was 30%.
http://www.prweb.com/releases/tax_credit/wood_stove_fireplace/prweb4722994.htm
Looks like it's 10% now.
http://www.chimneysweeponline.com/taxcredit.htm

yes. 30%. how did i make that mistake and put 15%?