On New Year’s Day Congress approved a legislative package that reinstated dozens of popular tax breaks that benefit individuals and small businesses, including the extension of the “25C” tax credit for installing energy efficient appliances in existing and new homes.
The ”25C” tax credit allows homeowners to claim up to $500 in tax credits for installing qualified energy efficient improvements.
The tax credit is equal to 10% of the cost (up to a $300 limit) for installing a high efficiency central air conditioner, heat pump or hot water heater. Also a homeowner can get a tax credit for up to $150 for installing a qualified furnace or hot water boiler, and a smaller tax credit of up to $50 is available for installing a system with an advanced main air circulating fan.
The IRS will soon release information instructing taxpayers on how to file a claim.
If 2013 is the year you replace your air conditioning system, please give Sean McCutcheon’s Air Conditioning and Heating, Inc. a call. We’ll help you choose the best system for your needs.
Sean McCutcheon’s Air Conditioning and Heating, Inc. – “The Quality and Service You Expect!
For information about applying for the tax credit click here.