Cookson Door Sales of Arizona says homeowners who purchase an energy efficient garage door over the next 21 months will not only save on their heating and cooling bills, they may qualify for up to $1500 in federal tax credits.
The February 17, 2009 announcement of the $787 billion stimulus legislation includes energy tax credits to qualifying garage doors that amends, extends and expands the previous Energy Tax credit legislation that was signed on October 3, 2008. The Act entitles eligible homeowners to tax credits for energy savings improvements.
The tax credit is equal to the sum of 30 percent of all qualified energy saving improvements installed in an existing home from January 1, 2009 to December 31, 2010. The credit applies to the product only (not labor) and the maximum credit for all of the improvements combined is $1500.
For example, if the garage door cost is $800, the applicable homeowner tax credit is $240. A taxpayer can add windows, entry doors or any other qualified products totaling $1500 in tax credits.
The following summarizes the new Energy Tax Credits now in effect:
“Tax credits are more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only decreases the amount of income that is taxed,” says Pat Lohse, vice president of residential marketing for Clopay Building Products, the nation’s largest garage door manufacturer.
To be eligible, the installed garage door must meet the following criteria:
Garage door dealers should provide a manufacturer’s certification statement for all IRS qualified insulated garage doors along with a breakdown of the cost of the door(s) and the cost of labor at the time of installation. Homeowners do not need to submit a copy with their tax return, but should keep a copy for their records.
Insulated Garage Doors – Energy Savers in Every Season
As the largest moving part on a home, the garage door plays an important role in its overall energy efficiency.
Since attached garages typically share one or two common walls with the house, any hot or cold air that travels through an open door will ultimately reach the living areas adjacent or above. An insulated door helps stabilize temperatures in the garage to help reduce heat losses or gains from the common house walls.
Clopay® garage doors that qualify for the tax credit include:
More details and certificates are available at www.clopaydoor.com. Additional information is also available at www.energystar.gov.
With four manufacturing facilities and 49 distribution centers across the U.S. and Canada, Clopay Building Products is North America’s leading manufacturer of residential garage doors and a leader in the industrial door market. Bringing more than 40 years of leadership to the garage door industry, Clopay Building Products maintains a strong family of brands including Clopay®, Holmes Garage Door Company® and Ideal Door®. Since 1996, Clopay is the only garage door manufacturer to hold the Good Housekeeping Seal.
Trackback from your site.