Energy Efficient Spray Foam Insulation Tax Credits
The Energy Policy Act of 2005, The Emergency Economic Stabilization Act of 2008, and The American Recovery and Reinvestment Tax Act of 2009
Currently there are three different acts that will allow various types of tax credits. Of these three acts there are only four tax credits that pertain to the spray foam industry. Along with a link to energy star ,you will find an abbreviated version of the credits that apply. This is a great way for you to solicit business, and a great way for the consumer to save more money.
Home Improvement Tax Credit
This tax credit is available for consumers who are improving the conditions of their principle residence. In order to qualify for the tax credit q home owner must have the improvements done between January 1, 2009 and December 31, 2010. For insulation the home owner can qualify for 30% of cost, up to $1,500 With this tax credit you must have a copy of the manufacturers certification statement on hand at the end of the year. You can find more information on all of the credits at http://www.energystar.gov/index.cfm?c=products.pr_tax_credits#sl
Tax Credit for Home Builders
This tax credit has not changed except, it has extended through December 31, 2009. This credit still requires a home to achieve 50% energy savings for heating and cooling over the 2004 IECC. You can find more information including needed paperwork at http://www.energystar.gov/index.cfm?c=products.pr_tax_credits#s6
Tax Deductions for Commercial Buildings
This tax deduction has not changed but has been extended through December 31, 2013. this deduction still allows for $1.80 per square foot if a building achieves 50% energy savings. You can find more information at http://www.energystar.gov/index.cfm?c=products.pr_tax_credits#s8
First-Time Home Buyer Tax Credit
This tax credit allows for a first time home buyer to receive a tax credit up to $8,000 if they purchase a principle residence on or after January 1, 2009 and before December 1, 2009. There are certain restrictions that come into place if a home buyer has a higher income, but more details can be found at
http://www.federalhousingtaxcredit.com
Download Southern Insulation's Manufacturer Certification Statement. Click Here to download
