Get Your Money

[Bobby Smith]

As I've been doing some searching on the Internet, I've found some interesting things - namely, that there are tax breaks for a decent amount of things that we use in our grow shows.

Tankless hot water heaters and mini splits are two of the things that caught my attention immediately, but surf around and who knows what you might find.

http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

http://energystar.custhelp.com/cgi-...nBfc2VhcmNoX3RleHQ9NjQ5NA**&p_li=&p_topview=1

 

[CannabisJohn]

As I've been doing some searching on the Internet, I've found some interesting things - namely, that there are tax breaks for a decent amount of things that we use in our grow shows.

Tankless hot water heaters and mini splits are two of the things that caught my attention immediately, but surf around and who knows what you might find.

http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

http://energystar.custhelp.com/cgi-...nBfc2VhcmNoX3RleHQ9NjQ5NA**&p_li=&p_topview=1

Quick note I know the a/c unit has to be 16 seer or above. Also I believe it has to be a change out not a new install.

 

[Bobby Smith]

You're correct about the 16 SEER, but new installs qualify as well - also, you can receive credit for the cost of the installation even if you do it yourself, which is a beautiful thing.

"Answer

Yes, central air conditioners (CACs) can qualify for a tax credit


How much:
30% of the cost (including installation/labor costs), up to $1,500

Timing:
Tax credit in effect in 2009 and 2010. Must be installed in your "principal residence" between January 1, 2009 and December 31, 2010.

Details:
Split Systems: SEER >= 16 & EER >=13 (What is SEER/EER?)

Package systems: SEER >= 14 & EER >= 12 (What is Split vs. Package?)

Important Note: It is likely that you will have to replace your furnace as well to get an air conditioner that qualifies.

The new air conditioner does not have to be replacing an old one to qualify.

Did you purchase an air conditioner between Jan 1 and Feb 17, 2009?

Find qualified models:
The best way to find tax credit eligible CACs is to ask your HVAC Contractor (Heating Ventilation and Air Conditioning). To verify tax credit eligibility, ask your HVAC contractor to provide the Manufacturer's Certification Statement for the equipment you plan to purchase. Or search the Manufacturer's website.

A user-friendly list of all tax credit eligible CACs does not exist. There are two partial lists of qualified air conditioners designed for HVAC professionals which we do not recommend for consumers.

How to apply:
File Tax Form 5695 with your tax return.

You must have a Manufacturer's Certification Statement to qualify."

 

[CannabisJohn]

You're correct about the 16 SEER, but new installs qualify as well - also, you can receive credit for the cost of the installation even if you do it yourself, which is a beautiful thing.

"Answer

Yes, central air conditioners (CACs) can qualify for a tax credit


How much:
30% of the cost (including installation/labor costs), up to $1,500

Timing:
Tax credit in effect in 2009 and 2010. Must be installed in your "principal residence" between January 1, 2009 and December 31, 2010.

Details:
Split Systems: SEER >= 16 & EER >=13 (What is SEER/EER?)

Package systems: SEER >= 14 & EER >= 12 (What is Split vs. Package?)

Important Note: It is likely that you will have to replace your furnace as well to get an air conditioner that qualifies.

The new air conditioner does not have to be replacing an old one to qualify.

Did you purchase an air conditioner between Jan 1 and Feb 17, 2009?

Find qualified models:
The best way to find tax credit eligible CACs is to ask your HVAC Contractor (Heating Ventilation and Air Conditioning). To verify tax credit eligibility, ask your HVAC contractor to provide the Manufacturer's Certification Statement for the equipment you plan to purchase. Or search the Manufacturer's website.

A user-friendly list of all tax credit eligible CACs does not exist. There are two partial lists of qualified air conditioners designed for HVAC professionals which we do not recommend for consumers.

How to apply:
File Tax Form 5695 with your tax return.

You must have a Manufacturer's Certification Statement to qualify."

Good to know. Thanks.

 

[zoeronerer]

good post true dat ...

dont forget solar panels and the kick backs ther innnnn

 

[Mike49048]

It maybe possible that all your equipment, some of your electric and part of your home maybe tax deductible. You would have to be a caregiver and run your grow like a small business. That means keeping records and such.

Just an idea.