February 12, 2012 - 02:42
     
Tax credits available for energy efficiency
Related Articles
21:37
19
May
2010
Views: 397
Print E-mail
In fact, due to ARRA incentives, initial federal data shows the average tax refund for 2009 is up nearly 10 percent, or $266, from the previous year, according to Internal Revenue Service Commissioner Doug Shulman.

It's not too soon to start thinking about next year's income tax filing season. And with some government tax incentives set to expire at year's end, savvy homeowners are planning today to save for tomorrow by taking advantage of tax credits that reward energy efficiency projects.

The American Recovery and Reinvestment Act of 2009 (ARRA) rewards homeowners who make energy-saving home improvements, such as installing a programmable thermostat or increasing the level of home insulation in their attics. In fact, due to ARRA incentives, initial federal data shows the average tax refund for 2009 is up nearly 10 percent, or $266, from the previous year, according to Internal Revenue Service Commissioner Doug Shulman.

Homeowners still have time to cash in on these benefits for their 2010 income taxes.

"There's no time better than the present to start saving money on your income taxes, especially when you're doubly rewarded through lower monthly heating and cooling bills," says Mike Lawrence, vice president and general manager of insulation systems for Johns Manville, a manufacturer of building products. "Homeowners have an unprecedented opportunity to improve the energy efficiency of their home using federal tax credits while also positively impacting the comfort and indoor air quality of their home through the products they select."

Here are a few tips for homeowners who want to save money on their income taxes and utility bills.

* Check out federal tax credits. Through Dec. 31, 2010, homeowners can purchase products that qualify as contributing to energy efficiency improvements and receive a 30 percent federal tax credit, which in most cases reimburses homeowners up to $1,500 for the cost of materials. Energy efficient products for homes, including heating, ventilating and air conditioning (HVAC) systems, insulation, roofing materials, water heaters and windows and doors qualify for tax credits. Homeowners who received the full $1,500 energy efficiency tax credit in 2009 aren't eligible for the refund in 2010.

* Track your qualifying purchases. Applying for federal energy tax credits is simple. For qualifying products purchased this year, homeowners will apply for the tax credit on their 2010 IRS Form (5695). Save receipts from product purchases and the Manufacturer's Certification Statement, a signed statement from the product manufacturer certifying that the product qualifies for the tax credit. These certificates should be available through the manufacturer's Web site and are only to be kept for the homeowner's records.

* Go local for more financial benefits. Additional incentives for making energy efficiency improvements are also available from state and local governments and utilities. The Department of Energy developed a database of state, local, utility and federal incentives and policies that promote renewable energy and energy efficiency. Through the Database of State Incentives for Renewables & Efficiency (DSIRE), homeowners can click on their state and access information on grants, financing options and local rebate programs.

* Start saving today. In addition to tax incentives, homeowners can reduce their home's heating and cooling costs by as much as 20 percent through proper insulation and air sealing techniques, according to the U.S. Environmental Protection Agency (EPA). Homeowners can estimate the current efficiency of their home by using an online energy efficiency assessment tool, such as the Home Energy Analysis test available at JMHomeowner.com. Online assessments are a quick and easy way to gauge the savings that could be realized through energy efficient home improvement projects.

"Because so many American homes are under-insulated, many homeowners will find adding insulation to their attic is a simple, cost-effective project to tackle," said Lawrence. "When adding insulation, homeowners should also consider air sealing their attic to help eliminate any holes or gaps that may exist in the floor or walls. By using caulk, spray foam or weather stripping to close such gaps, homeowners can further decrease wasted energy."

To find more information on energy efficient home improvement projects that qualify for tax credits, visit www.jmhomeowner.com/insulation/energytaxcredit.asp.

Courtesy of ARAcontent

Untitled Document  
Top News
Jobless rate up
Polk County’s unemployment rate was 13.1% in December, up from 12.7% in November and 11.4% in December 2010.
Haslam proposal could cause revenue loss
Writ denied
Committee considers library move
Voters purged?
Thomason announces his candidacy
Early voting begins Feb. 15
Changes sought in salary, class size
FOL eyes new library building
Sixteen counties to participate in reg..
County cracking down on litter, tires
2011 a busy year for the courts
Truck driver lucky to be alive
Planning Regulations amended
Sixteen counties invited to participate
Latest filing alleges fraud
Complaints aired to School Board
Paul Hunter’s trial is moved
State Library and Archives partner wit..
Mountain Club has new owner ... sortof
Local News
Crisis Center fills a need
Each month more than 800 families receive services from the Copper Basin Crisis Center.
Scholarship deadline approaching
Jacobi selected to Bluegrass Leadershi..
Gaskill recognized
Local Author releases new book
Attack victim talks to Dr. Phil
Taylor family takes it one day at a time
Victim of attack to appear on Dr. Phil
Encore Program Offers New Courses for ..
Benton Banking saga is over
Fire destroys home but not Christmas
Motel to close for winter only
Speegle takes second at the Mustang Ch..
Cheek Road settlement is reached
High-speed chase ends in Benton
VEC Christmas holiday
No cop for Copperhill
Copperhill-McCaysville Bypass
Turtletown farm house turns 100
Cattle referendum Dec. 7-8
For the Record
Criminal Court Dispositions
2/1/12
Sheriff's Log
Property Transfers
Sessions Court Dispositions
Sheriff's Log
Sessions Court Dispositions
Property Transfers
Sessions Court Dispositions
Sheriff's Log
Property Transfers
Sheriff's Log
Sessions Court Dispositions
Property Transfers
Sheriff's Log
Sessions Court Dispositions
Property Transfers
Sheriff's Log
Sessions Court Dispositions
Property Transfers
Sheriff's Log - 11/30/11
School News
CMS semester honor roll
Chilhowee Middle School would like to congratulate our students on the First Semester Honor Roll.
CBHS AV Club
CMS Honor roll
kids prepare for Thanksgiving lunch
Pilgrims hard at work
Fun in the leaves
ACT & SAT test prep available
Merry Christmas
How to cook a turkey ...
Copper Basin High School Honor Roll
Students compete at the 84th National ..
Copper Basin Elementary Honor Roll
Teacher of the year
South Polk Elementary Honor Roll
Why is Frankenstein green?
Chilhowee Middle School Honor Roll
Benton Elementary Honor Roll
Copper Basin High School gets clogging..
Mrs. Carr gets a suprise
Financial Aid night Thursday
Obituaries
Harley Ray Morrow
77, of Murphy, NC
MSGT CHARLES LONG
JOY WALKER
VIRGINIA DELORIS BROWN TRANTHAM
MABEL JANETTE TRIPLETT
CLEO CLEASTON GIBSON
MR. ARNOLD WILBERT WINKLER
MS. ELENE MCNABB
CHARLES NORMAN KINSER
ALDEN “BUFORD” FREEMAN
GLEN RICHARD DEAN
ARTHUR L. DWYER
CURTIS MORGAN
HELEN R. SMITH
IMOGENE DUNN WILCOX
MS. EMOGEGE “JEAN” NICHOLS
MRS. GENNY WATSON
PATRICIA (PATTY) CALHOUN DUGGAN
BRENDA PRICE WILCOX
VICKIE LEE BICE
Opinions
Remember When ...
2/1/12
Letter to the Editor
Editorial Opinion~1/25/12
Rambling Thoughts...
Letter to the Editor
Sustainability
Christmas in The Turnip Hole
Letter to the Editor
Editor,
Editorial Opinion~11/30/11
Remember when
Dear Editor:
Dear Editor,
Dear Editor,
Dear Editor:
How Much Do You Like Your Rural Life?
To the Editor:
Affinity: A Tribute to the PCHS Class ..
Editorial Opinion~11/10/11
A HOMECOMING OF OUR OWN
Polk County Heritage
Shamblin Family
Shamblins of England Migrated to Polk County
Nurse's Aide Class 1972
Ducktown High School students around 1..
Calvin Higdon family
Copperhill High School 6th grade, 1947..
McClary Family 1887
White Cliffs Hotel
PCHS basketball team 1926
Conasauga High School
Holden and Porter 5 generations
PCHS 1929 50th reunion
Ducktown Company Store
Ducktown Lookouts 1975
PCHS Star Farmer degrees 1973
PCHS Junior Class 1945
Polk County teacher appointments, 1934..
Ducktown High School basketball team, ..
Benton Girl Scouts, 1970
PCHS Class of 1942
Information needed
Local Events
Loralee Songer Recital at Lee
Bulletin Board - 2/8/12
Bulletin Board - 2/1/12
Featherweight care presentation slated
Bridging Cultures at CSCC
Aint Misbehavin comes to Athens
Manuel Barrueco to perform at Lee
Bulletin Board
Lee University Wind Ensemble to Perform
Bulletin Board - 1/18/12
Learn Cherokee
Bulletin Board - 12/21/11
Give blood Dec. 27
Quilt submissions begin Jan. 3
Holiday events for kids at Etowah libr..
Bulletin Board
Parade in Benton Saturday
Bulletin Board - 12/7/11
Appalachian Christmas Camp slated
Voices of Lee to Present Sounds of Chr..
Local Sports
Polk splits with Hamilton Heights
Cougars get big district wins
Cougars route Hiwassee Dam
Wildkittens run their record
Cougars take two from Hiwassee Dam
PCHS cheerleaders
Tigers the lead
Yowarsky Miles named to the All region..
Coach Brewer has high hopes
Wildkittens set goals for success
The Polk County Bobcat Cutters defeat ..
Crickets beat Central
Buccaneers blank Cougars in season fin..
Experience a strong point for Basin Ho..
Football banquet slated
Polk's volleyball title hopes dashed b..
Runners still Progressing
Polk County Juniors take on the Knights
Knights shut out
Wildcats defeat Sequoyah
Friends & Neighbors
Class of '54 has Christmas party
Kids get new sneakers
Holiday Food Drive held
First Bank donates to Empty Stocking F..
Fairest of the Fair donates gifts
CMS cheerleaders in the Benton Parade
Navy News
Carlee celebrates
Dr. William E. Lee receives honor
Fairest of the Fair food drive
Maynor & Lewis to wed
PCHS Class of 1981 reunion
Copperhill Halloween parade
Surprise wedding anniverssary
Miles & Hawk to wed
Hope Wilson turns sweet 16
Adoption Day
Fowlers celebrate 65 years of marriage
Aaron wins bicycle
Baby Jones arrives
Nature & Environment
Wetlands program deadline Feb. 29
The WRP is a voluntary program offering landowners the opportunity to protect, restore, and enhance wetlands on their property.
Fall Colors
Rabies baiting has begun
Butterfly in the garden
Passionflower bees
Armadillo sighting in Polk County
Early peaking
A Neotropical Cormorant does a flyby i..
Butterfly snack time
(The streak is alive)
Bees like squash
Acrobatic Antics
EPA plan to help aquatic life
Sunflowers in Delano
Scratch
Ribbit!
Help protect our native snakes
Sanders pictured with rattlesnake
EPA looks to improve the Ocoee
River cleanup May 27
Recreation & Visitor Information
National Geographic site highlights ETN
A new website highlights special places in East Tennessee, with many of them being in Polk County.
Museum getting a facelift
Fort Loudon's 2012 Winter Lecture Series
Part of Sina Branch to close
Discover Tennessee Trails & Byways pro..
Drawdown underway at Apalachia Lake
Trout stocking reduced
TVA creates smartphone app
Ocoee rafting numbers increase
Locals to Fight the Rapids Against Can..
Hiwassee River
Cherokee National Forest
Furs to Factories: Exploring the Indus..
Fisherman tries his luck
Scouts visit the area
Beating the heat
Visitors enjoy the scenery
Rail Adventures start May 28th
Forest Service gearing up for busy sea..
New trails project
Consumer Information
Nearby projects could cause delay
TDOT has issued the following alerts about nearby construction projects.
Rebate available for electric car purc..
Beware energy evaluation scam
8 Do’s and Don’ts for de-icing you..
THP to honor fallen officers
No Lane Closures on Tennessee Highways..
More Cops. More Stops
VEC to Close Offices for Thanksgiving
Historical Commission accepting nomina..
Great American Smokeout is Nov. 17
Be wary of gift card promises
Notice of temporary road closing
TDOT construction report
Be wary of firms that charge fees to f..
CoverKids outreach program announced
Sales Tax holiday is Aug 5-7
Photo ID education campaign launched
Legislation available online
Energy rebates available
LIHEAP program year changes
Outdoor Sporting
Burgess kills 11 point buck
Milen gets first buck
Free hunting day is August 27
Averett catches a smallmouth
Muncy's catch three stripers on the Hi..
Plemons catches her first fish
Big fish
Kids Fishing Day
Kids Fishing Day a success
Frank gets 22 lb turkey
Kids Fishing Day May 21
Ramsey takes his first turkey
Bass tournament second place winners t..
(TWRA) solicits comments
Elk hunt applications being accepted
Fishing licenses on sale
TWRA 2011-12 hunting regulations
Wildlife Resources Agency confirms new..
Tennessee’s gun season resumes
Ramsey gets an 8 point Buck
Classifieds
Classifieds - 2/8/12
Classifieds - 2/1/12
Classifieds - 1/25/12
Classifieds - 1/18/12
Classifieds - 1/11/12
Classifieds - 12/28/11
Classifieds - 12/21/11
Classifieds - 12/14/11
Classifieds - 12/7/11
Classifieds - 11/30/11
Classifieds 11/23/11
Classifieds - 11/09/11
Classifieds - 10/19/11
Classifieds - 10/12/11
Classifieds - 10/5/11
Classifieds - 9/28/11
Classifieds - 9/21/11
Classifieds - 9/14/11
Classifieds - 9/7/11
Classifieds - 8/31/11
Public Notices
Public Notices - 2/8/12
Public Notices - 2/1/12
Public Notices - 1/25/12
Public Notices - 1/18/12
Public Notices - 1/11/12
Public Notices - 12/28/11
Public Notices - 12/21/11
Public Notices - 12/15/11
Public Notices - 12/7/11
Public Notices - 11/23/11
Public notices - 11/09/11
Public Notices - 10/19/11
Public Notices
Public Notices - 10/5/11
Public Notices - 9/28/11
Public Notices - 9/21/11
Public Notices
Public Notices - 9/7/11
Public Notices - 8/24/11
Public Notices - 8/17/11


Untitled Document

Polk County News | P.O. Box 129 | 3 Main Street | Benton TN 37307
phone: 423-338-2818 | fax: 423-338-4574 | email

web site development Lisa Affordable Web Sites