Home Improvement Stimulus Benefits

February 17, 2009 President Obama Signed Into Law
The American Recovery and Re-investment Act of 2009

What does this mean for you the consumer and taxpayer?
Jim Godbout Plumbing & Heating Inc. has put together a small list of items in the stimulus package which can benefit everyone. The items we are going to talk about are things we have been emphasizing for many years. Just look below to see what we can do help in the decision making process.

	Efficiency	Tax Credit 2009-2010 (Form 5695)	Limit
Natural Gas Boilers	95%AFUE	30%	$1500
Example: Viessmann Vitodens 200, Triangle Tube Excellence & Solo
Natural Gas Furnaces	95%AFUE	30%	$1500
Example: American Standard 95 Plus
Propane Boilers	95%AFUE	30%	$1500
Example: Viessmann Vitodens 200, Triagle Tube Excellence & Solo
Propane Furnaces	95%AFUE	30%	$1500
Example: American Standard 95 Plus
Instantaneous Hot Water Heater	95%AFUE	30%	$1500
Example: Rinnai Continuum 75LSI installed cost of $2,200.00, tax credit available: $660
Geothermal Heat Pump System	3.3 COP	30% of Cost of Installation	No Dollar Cap
Example: Water furnace heat pumps water to water, water to air.
Solar Hot Water Systems		30% of Cost of Installation	No Dollar Cap
Example: Viessmann Vitosol Evacuated Tube System

Home Improvements
Tax credits are now available for home improvements:

• Must be "placed in service" from January 1, 2009 through December 31, 2010
• Must be for taxpayers principal residence
• Maximum amount is $1,500 in 2009 & 2010 for most home improvements (geothermal heat pumps, solar water heaters, solar panels, fuel cells, and windmills are not subject to this cap.)
• For record keeping, save your receipts and the Manufacturer Certification Statement, OR for windows, you can save the ENERGY STAR label from your new windows.
• Improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) - use IRS Tax Form 5695 (2009 version) - it will be available late 2009 or early 2010.

Insulation, windows, doors: 30% of cost of installation, up to $1500.

Electric air source heat pumps: Split systems 15 seer, 30% of cost of installation, up to $1500
Example: American Standard

There is also large amounts of Grant money available for Geothermal and Solar projects.

First-time Home Buyers: $8,000.00 Credit

Please visit www.energystar.gov to see the entire list of benefits available.