Did you know
you could actually earn money by installing our vinyl windows? You may be able
to earn a $200 tax credit when you make qualified energy efficiency
improvements to your exterior windows or doors (besides storm windows or doors)
that meet or exceed the prescriptive criteria established by the IECC for your
climate zone.
If your exterior windows have an ENERGY STAR® label and you live in the region
identified on that label, you may be able to rely on the label rather than the
manufacturer’s certification statement in claiming a § 25C credit.
Note that as ENERGY STAR ® label products all of our vinyl replacement, specialty
and new construction windows and patio doors meet the requirements of the Credit
for Non-Business Energy Property § 25C tax credit.
Still, please make sure to review all information about the Credit for Non-Business
Energy Property §25C provided by the IRS itself at http://www.irs.gov/pub/irs-drop/n-06-26.pdf before
you take any steps.
Guidelines for § 25C of the Internal Revenue Code
are:
•
10% of the amount paid or incurred
by the taxpayer for qualified energy efficiency improvements installed
during the taxable year.
•
Up to $200.00 maximum credit for windows for all
taxable years (maximum $500.00 credit for all improvements combined).
•
Allowed only for amounts paid or incurred to purchase
the window or door.
•
Not allowed for amounts paid for onsite preparation,
assembly, original installation labor, other components or sales tax.
•
The purchase must be made during the taxable
year for which the credit is claimed.
•
Retroactive and with time limits, covering product
in service after December 31, 2005 and before January 1, 2008.
Once you establish that you are, in fact eligible to claim a Tax Credit for Non-Business
Energy Property § 25C and have reviewed the IRS’ guidelines, please
perform the following steps:
1.
Request an invoice from MyHome demonstrating
the cost breakout of the window or door components from your contractor.
This cost must exclude the cost of onsite preparation, assembly, original
installation labor, other components or sales tax.
2.
Request the applicable Manufacturer's Certificate
and retain the ENERGY STAR® labels from qualified products.
3.
Retain the contractor invoice, ENERGY STAR® labels
and the Manufacturer's Certificate for your IRS records. You are not required
to provide this documentation to the IRS, but you will be required to present
it if they decide to audit you.
Kitchen Remodeling, Bathrooms Renovation, Flooring Services, Painting Company, Complete Remodeling and Renovations Firm - Photos & Pictures - New York (NYC, Manhattan), New Jersey (NJ), Westchester (NY)
Did you know
you could actually earn money by installing our vinyl windows? You may be able
to earn a $200 tax credit when you make qualified energy efficiency
improvements to your exterior windows or doors (besides storm windows or doors)
that meet or exceed the prescriptive criteria established by the IECC for your
climate zone.
