TAX CREDITS for
2009-2010
Available
NOW:
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The American Recovery and Revitalization Act of 2009 provides
homeowners a significant tax incentive to make improvements to the overall energy efficiency of their homes, including their
HVAC systems, windows and doors. Specifically for heating & cooling systems, this plan provides federal income tax credits for qualifying, high efficiency
gas furnaces, air conditioners, electric heat pumps, small packaged HVAC units, oil furnaces, boilers and geothermal heat
pumps placed in service starting January 1, 2009 through December 31, 2010. The tax credit is for 30%
of the installed cost, up to $1,500 for installations of one or more of the following pieces of equipment:
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- Natural or L.P. gas furnaces with an AFUE rating
of 95% or higher
- Furnaces equipped
with an “Advanced Main Circulating Fan” (see FAQ #9 below)
- Oil furnaces with an AFUE rating of 90% or higher
- Gas or oil boilers with an AFUE rating of 90% or
higher
- Air conditioners
with efficiency ratings of 16 SEER/13 EER or higher
- Heat pumps with efficiency ratings of 15 SEER/12.5 EER/8.5 HSPF or higher
- Packaged air conditioners with efficiency ratings
of 14 SEER/12 EER or higher
- Packaged
heat pumps with efficiency ratings of 14 SEER/12 EER/8 HSPF or higher
- Natural, L.P. or oil hot water heaters with an energy factor rating of .82 or 90%
thermal efficiency and higher
- For GEOTHERMAL SYSTEMS, the tax credit is 30% of the installed
cost with no limit.
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Right now, Hauck Bros. has an attractive set of incentives to offer homeowners
such as:
- Federal tax credits for energy efficient equipment installations (up to $1,500)
- Factory consumer rebates (seasonal offers
up to $1,150)
- Consumer
financing promotions (seasonal Spring & Fall offers up to 12 months deferred interest)
- Equipment-specific incentive discounts
- 10 year parts and labor extended warranties
Tax Credit FAQs
---------------------------------
1.) If I claimed up to $500 under the previous tax credit program
in 2005 or 2006, can I still claim the full amount under this new plan? Yes, this new law removes all previous lifetime credit caps
for home efficiency upgrades.
2.) Can
I claim $1500 in 2009 and again in 2010? No, you can only claim the tax credit for the combined two-year period 2009
through 2010.
3.)
Does the qualifying dollar
amount include the installation costs? For HVAC equipment, the law defines the installation costs as "expenditures
for labor costs properly allocable to the onsite preparation, assembly, or original installation of the property."
In other words, YES!
4.) When
does the plan go into effect? It is in effect now and is retroactive back to January 1, 2009. Equipment
installed before this date does not qualify.
5.) How do I apply for the credit? Hauck Bros. will provide you with
a manufacturer’s certification form after your qualifying equipment is installed. You will then need
to file IRS Form 5695 with your tax return.
6.) Why do only specific types of equipment qualify? The purpose of the plan is to encourage
homeowners to install the most efficient equipment available. With current discounts, promotions and manufacturer’s
rebates coupled with the tax credit, it is possible to realize a savings of over $3,000 for these high efficiency systems.
This would be in addition to lower utilities, as well. Geothermal heat pump purchasers could see
even greater savings (30% tax credit with NO LIMIT).
7.) Do I have to purchase a heating and cooling system together
to qualify? No. You can purchase EITHER a qualifying furnace OR air conditioner/heat pump unit and receive a 30% tax credit
up to $1,500. If a single piece of equipment is $5,000 or more, you would qualify for the entire $1,500
tax credit. As always is the case when dealing with tax implications, we advise that customers installing
new heating and cooling systems and equipment, refer to their tax professionals before applying for the tax credit.
9.) How does the
Advanced Main Circulating Fan credit work? Each furnace manufacturer has established a percentage tax credit allowed
under the definitions set forth by the IRS. This percentage is based on how much energy the furnace uses in relation
to the main house blower. Please contact our sales department for information on tax credits available for advanced
main circulating fans. Again, we advise you to contact your tax preparer for specific tax-related questions.
