Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
Related Categories
Tip of the Day

Tip of the Day Use a Mortgage Broker

Use a Mortgage Broker - When purchasing a home, why not use a mortgage broker as he can shop around all the financial institutions and generally find you a much...

read entire tip

Recently Added
Other Great Sites
 

Federal Solar Tax Credit

Solar energy is an answer to the world energy crisis. This energy is clean and renewable and does not create any environmental hazards. Knowing the impact of energy saving, that solar energy can have on the country, the present government of the United States announced the Economic Stimulus Package which contains the Federal Solar Tax Credit.

According to this package if you install the panels needed for tapping solar energy, and also solar water heaters you can get 30% as Federal Solar Tax Credit. This means you get a tax credit on 30% of the amount you spend on setting up the Solar panels and Solar water heaters. There is no limit on the maximum amount that you can spend on these items, but they should confirm to a given set of specifications. When you confirm to these guidelines your spendings will be qualified for the 30% tax credit.

The Solar Panels or the Photovoltaic system that you install should be able to generate electricity which can be used in your residence. The system should also comply with the fire and electrical safety codes of your area. The solar water heater that you install should have the Energy Star certification and also certified by SRCC (Solar Rating and Certification Corporation). To claim the 30% tax credit, the spending taken into account will be only the solar water heater and not any other heating system of the residence. Also the spending cannot include water heating for hot tubs and swimming pools. The water from the solar heater has to be used inside the residence only.

To qualify for Federal Solar Tax Credit, you should have installed the Photovoltaic system and/or Solar water heater after the 17th of February 2009. This scheme is available till the end of the year of 2016. It also does not matter what your income is, as there are no Caps on income to qualify for Federal Solar Tax Credit.

The Federal Solar Tax Credit is non-refundable. You will not get a refund from the IRS if your tax amount is less than the qualified Federal Solar Tax Credit.

Apart from the 30% Federal Solar Tax Credit on the spending on installation, you will also be saving every month a good amount on your energy bills. If you take into account a regular certified solar water heater, it can save you at least 50% to 80% of the heating energy bill.

Discuss It!

reviews of resume services in au said:

We often like to hire a person that can get us out of these issues related to the taxpaying issue on time. But if someone is having this type of information then I am sure that we donât have to hire someone.

useful content said:

Pretty prominent post. I essentially uncovered your page and expected that would state that I have really completely fortifying looking site locale.

Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Face Value

Face Value - The face value is a securities nominal dollar value assigned by the issuer. If it is a equity security, face value is generally a tiny amount that bears no relationship of any kind to its market price, except when they are preferred stock, which in this case,...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com