With it being tax time I was wondering if anyone knew do you get any tax credits or breaks for intalling a wood stove or for the mileage gathering wood
tax time
- Thread starter loneeagle15
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I'm not, by any stretch of the imagination, a tax accountant (I'm a Mechanical Engineer). I'm not aware of any federal tax credit concerning wood stoves. In Oregon, the state offers a tax credit as some percentage, up to some limit, of the price of purchase/installation. The stove has to be new, and on Oregon's list of qualified stoves, and it has to be fitted with an external source of combustion air. There is no ongoing credit for operating a wood stove, only in the year of purchase/installation, providing all the requirements are met. Don't know about any of the other states. Rick
After building a new home last year, I asked the CPA if there were any credits for what you are wondering about. He said there weren't. If I find out he is wrong its time for a new tax man.
Unreleated, but this is the same accounting firm that forgot to file my taxes for the previous year. Boy was I surprised when the IRS sent me a nasty letter looking for my return a year later. But not as surprised as the accountant was when I showed the letter to him.
Unreleated, but this is the same accounting firm that forgot to file my taxes for the previous year. Boy was I surprised when the IRS sent me a nasty letter looking for my return a year later. But not as surprised as the accountant was when I showed the letter to him.
I have watched like a hawk for tax credits for wood burning for 30 years and they ain't happened yet.
No not even here in Canuckville! Our policiticans are just as ignorant as yours.. Probably all got a hand in the pocket of the oil companies or natural gas companies, or whatever? Sucks, because it is just plain dumb!!
Still running lots of adds here though for that wonderbar fuel, NG :-S
Still running lots of adds here though for that wonderbar fuel, NG :-S
There are tax credits for related items such as insulation and energy star appliances, windows doors, skylights, etc. If I remember correctly 2007 was the last year to reap any benefits. Those of you who had replacement windows installed last year should be eligible for the credit.
It doesn't make up for the effort to hump wood into your home but it's a small bone for those of us who spent the money for new appliances or windows.
It doesn't make up for the effort to hump wood into your home but it's a small bone for those of us who spent the money for new appliances or windows.
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