Garage Door Door Installation Tax Credit
New garage doors are now part of the credit from the federal government in an effort to encourage people to have more efficient homes. There are several things you will need to know if you are interested in finding out about how this program works.
The President passed an enormous stimulus package in early 2009 to try to get the economy moving. Part of the bill gave out tax credits for any home owner who made their home more energy efficient. Luckily for anyone looking for a new garage door, you can easily be qualified. This article should help you understand how this will apply to you.
This tax credit is available for anyone who purchases a qualified garage door between the beginnings of 2009 to the end of 2010. A home owner is limited to writing off up to 30% of the cost of the garage door with a maximum deduction of $1500.
The door must be an insulated residential garage door, installed on an insulated garage.
Keep in mind that the U Factor must be equal to or less than .30 in order to qualify for the tax credit.
The door also must feature an air tight system around the base of the garage door. Must garage doors with a .30 or less U Factor will have this function.
The use of the door must be intended on use for at least 5 years.
The garage must be part of the taxpayer’s principal U.S. residence.
Now is the time to take advantage of purchasing a new insulated garage door. Not only will you increase the overall appeal of your home and reduce your gas and electric bills, you can also write off up to $1500 dollars off your taxes. This is a great way to increase your homes value, while putting money back in your pocket.
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