Clever, Last Minute Way to Slash Taxes by $1500

Online, December 1, 2010 (Newswire.com) - Vero Beach, FL - December 1, 2010 - Can you save by spending? Sounds fishy at first. Yet homeowners who invest in high efficiency air conditioners or heat pumps can tap into the multi-billion dollar economic stimulus package that ends December 31, 2010.

And the more efficient systems should also mean extra dollars in your pocket with each energy bill.

The tax credit is also pretty simple to figure. It's up to 30 percent of the price, up to $1500 for qualifying equipment on existing homes through 2010. It can be applied to energy efficient upgrades of residential windows, doors, and insulation.

"As a tax credit, you just reduce your taxes by that amount. But that's just one part of the savings," Said Noah Wood of Star Quality Air. "When you purchase an energy-efficient home comfort system, or make one of the other upgrades, you'll also reduce energy bills. It's a definite win-win."

The bad news? These tax credits expire on December 31, 2010 - and so far, Congress has shown no signs of extending them. The other bad news is that not all new equipment meets the efficiency standards required in the legislation.

"Homeowners should be careful not to just buy 'anything' that's new," Noah Wood said. "To qualify, the equipment and improvements must meet certain efficiency standards. It's easy to check what qualifies, just make sure you work with a professional or someone you trust."

One place to start is a home comfort inspection. Star Quality Air (plus many others) offer this as a free service to readers between now and the end of the year. Homeowners can find out if their current equipment meets the standard, or what they can do to take advantage of the tax credit.

Noah Wood is a licensed contractor at Star Quality Air Conditioning. You can contact Star Quality Air for more information on the program at 772-299-9818.

"This is complicated legislation," said Noah Wood. "But you don't have to read the 1,100 pages to know that there are not many opportunities to save on taxes; and to save on energy costs as well is a great benefit. We encourage homeowners to check into this program before it ends December 31, 2010."