Prescott Real Estate News Blog's purpose is to keep current, past, and potential clients apprised of the real estate market conditions for the Prescott, Arizona Area. National and state news and events will be posted but special emphasis will be placed on Prescott Area and the Yavapai County - Prescott, Prescott Valley, Chino Valley, Dewey and Kirkland/Skull Valley.
-Prescott Real Estate News
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Theron Wall Sr. Mortgage Consultant 1575 Plaza West Drive, Suite C Prescott, AZ 86303 Office: 928.445.8730 Fax: 928.445.1065 Cell: 928.533.7473 my website
Most Tax Credits for Green Home Improvements to Expire Soon!
Federal tax credits for most energy-efficient home improvements are set to expire at the end of 2011. Experts say they won't be extended. Purchase and installation must be this year, so you need to start projects no later than October or November.
The maximum federal tax credit is $500 and the amount varies depending on the product. But tax credits are often better than deductions, which only reduce your taxable income. Tax credits reduce your total tax liability, so it's like getting money back from the IRS.
Plus, energy-efficient upgrades save you money year after year. Insulation can reduce air leakage 20% to 30%, saving about $220 a year. New windows can save up to $500 a year. A new air conditioner is typically 30% more efficient than a 10-year-old one. New ductwork, central air cooling and water heaters are also very cost-effective improvements.
For bigger green projects, federal tax breaks are available until 2016! Examples include solar energy systems, geothermal heat pumps, small wind turbines and fuel cells. These may earn a tax credit worth up to 30% of the cost, with no dollar limit. For more information, check the Energy Star website: http://www.energystar.gov/index.cfm?c=tax_credits.tx_index
Check the websites above for eligible projects. And always consult with a tax professional before proceeding with expenditures that have tax implications.
PS Thinking of upsizing, downsizing or refinancing to take advantage of today's affordable home prices and historic low mortgage rates? Please call or email us now to discuss your situation.
We're always glad to answer any questions.... Have a great day!
This e-mail is an advertisement that was sent to you because of your relationship with Theron Wall. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in the newsletter is the property of Wallick & Volk Mortgage and cannot be reproduced for any use without prior written consent. Wallick & Volk Mortgage is an Equal Housing Lender. BK 0018295 NMLS #256412