Energy Tax Credit

Tuesday, 30 December 2008 03:30

3M™ Window Films help you save money.

Energy efficiency can lower your federal tax bill and your monthly energy bill. Heat gained through windows makes up a significant portion of your summer utility bill. 3M Window Films reduces heat gain by up to 79 percent, which helps lower energy consumption.

 

New! Federal tax credit for window film.The Emergency Economic Stabilization Act of 2008 includes an extension to the Energy Policy Act of 2005, providing federal tax credits for homeowners who make certain energy-efficient improvements. Window film has been added to the list of improvements. Anyone who has purchased qualifying 3M Window Film products between January 1 and December 31, 2009 can receive a 2009 tax credit. For a list of qualifying 3M Window Film products, please visit 3M.com/windowfilmtaxcredit. A tax credit directly reduces your overall income tax, which is much better than a deduction, which reduces the amount of income subject to tax. Homeowners can receive a 30% credit on the costs of qualified window film products, up to a maximum of $1500.
Complete IRS form 5695 and file your 2009 Income Tax Return by April 15, 2010. Forms can be downloaded on the IRS website, along with a list of other available energy efficiency tax credits. You will need a copy of the dealer invoice for the window film product, separated by cost for film and installation. Installation costs are not eligible for the tax credit. You will also need a copy of the manufacturer’s certification statement, which determines which products qualify based upon where you reside. Make sure to keep a copy of both of these documents for your records.