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Energy Credit 2010
If you
have not taken advantage of the Nonbusiness Energy Property Credit available in
2009 and 2010, it is a great way to cut energy costs and save up to $1,500 (for
both years combined) in income taxes by making energy efficiency improvements to
your principal residence. Basically, if you install energy-efficient insulation,
windows, doors, roofs, heat pumps, hot water heaters or boilers, or advanced
main air circulating fans to your home before year-end, you may be entitled to a
tax credit of 30% of the purchase price, up to a maximum credit of $1,500. |