Practical Tax Advice

As the cold weather moves in, we start to think about ways to make our homes more energy efficient. Do we need to better insulate our homes? Is it time for some new windows? Would a more energy efficient furnace help us out? A recent tax law change provides a tax credit to improve the energy efficiency of your primary home. The law provides a 10 percent credit for buying qualified energy efficiency improvements. Those improvements include buying windows,

insulation, new furnaces, etc. Of course, the IRS would not be the IRS without including certain stipulations to this new tax law. The details are too complex to deal with through this tax tip. The most important stipulation that I should mention is that the credit has a $500.00 maximum ($200.00 max. for windows). This tax credit expires December 31, 2007 so this is the last year to take advantage of it. If you were planning on making some energy efficient improvements to your home, I would encourage you to do it this year and receive the added benefit of the tax credit.

For more information, visit my website at www.GladImethim.com or call me at 717-394-6097, and remember that in Proverbs 19:20 we are taught to “Listen to advice and accept instruction, and in the end you will be wise(NIV)”

Practical Tax Advice
	: As the cold weather moves in, we start to think about ways to make our homes more energy efficient. Do we need to better insulate our homes? Is it time for some new windows? Would a more energy efficient furnace help us out? A recent tax law change provides a tax credit to improve the energy efficiency of your primary home. The law provides a 10 percent credit for buying qualified energy efficiency improvements. Those improvements include buying windows, insulation, new furnaces, etc. Of course, the IRS would not be the IRS without including certain stipulations to this new tax law. The details are too complex to deal with through this tax tip. The most important stipulation that I should mention is that the credit has a $500.00 maximum ($200.00 max. for windows). This tax credit expires December 31, 2007 so this is the last year to take advantage of it. If you were planning on making some energy efficient improvements to your home, I would encourage you to do it this year and receive the added benefit of the tax credit. For more information, visit my website at www.GladImethim.com or call me at 717-394-6097, and remember that in Proverbs 19:20 we are taught to “Listen to advice and accept instruction, and in the end you will be wise(NIV)”