Residential Furnaces, Air Conditioners, Air Source Heat Pumps, Boilers and Biomass Stoves

Selected Energy Star products purchased before December 31, 2017 are retroactively eligible for up to $500 in tax credits for qualifying systems and locations. The tax credits were previously set to expire at the end of 2016, but were recently extended to retroactively include products through 2017. In order to qualify, the property must be an existing home and your principal residence - new construction and rentals are not eligible. More information on qualifications and credit amounts is available on the Energy Star website.

Energy Star geothermal heat pumps qualify for a 30% Federal tax credit with no upper limit. The tax credit applies to the equipment cost and installation. Existing homes and new construction apply. Principal residences and second homes qualify, but rentals do not qualify. The tax credit expires December 31, 2019. These are not tax deductions that lower your taxable income, tax credits lower your taxes owed. See the section regarding geothermal heat pumps on the Energy Star website for more information.

If you think you might be eligible for either of these credits, be sure to check with your tax preparer to ensure your situation will qualify for the tax credits. Even if you've already filed, you can likely file an amended return to take advantage of applicable credits. If we were your source for the equipment and you need a certificate that your product qualifies for the credit, don't hesitate to give us a call! We're always happy to help.

Cheers,

Bob Gates
Owner