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Save during tax season:  Get Your Appliance Tax Credit Now!

Save With Appliances; Tax Credit For Appliances

Since the 1970s, the government has been urging the nation to conserve energy in any way that it can. Energy conservation will lessen our dependence on foreign oil, save the environment, and can be improved with each intended decision we make to reduce our personal consumption.

There are many ways to save energy in your home and office today.

• Turn off the lights when you leave a room.
• Understand your home or office’s energy use (i.e. what percentage goes to which source).
• Weatherize your property.
• Seal your heating and cooling systems.
• Change to LED or CFL lighting.
• Change your air filter regularly.
• Install a programmable thermostat.
• Use a space heater in the winter months, and a ceiling or portable fan in the summer.

In an effort to maintain an energy conservation goal, the United States government offers tax credits on energy-efficient appliances. The program began in 1996, is called Energy Star, and promotes home and business energy efficiency. In 2009 alone, the program and its approved products avoided 30 million cars worth of greenhouse gas emissions.

Save With Appliances

Save on appliances with energy-efficient options. To improve the comfort of your property, protect the environment, and lower your high energy costs, Energy Star approved-products are the first step towards green remodeling.

Making smart energy decisions can have a big impact on your living arrangements and comfort.

• For existing homes that are your principal residence, Energy Star biomass stoves, HVAC systems, insulation, roofs, water heaters, windows and doors can save 10% of the cost up to $500.
• For existing homes and new construction of principal residences, save 30% of the cost up to $500 on fuel cells.
• For existing homes and new construction of both principal residences and second homes, you can save 30% on geothermal heat pumps, small wind turbines, and solar energy systems with no upper limit.

Imagine what you could do with all that money saved! A new home theater? A new home addition? A new Energy Star approved-appliance?

Energy Star approved-products include, and are not limited to

• Windows, doors, skylights, and roof products,
• Audio/video and cordless electronics,
• Office equipment,
• High efficiency, solar, and whole home water heaters,
• Battery chargers,
• Lighting and fans,
• Pool pumps,
• Heating and cooling systems,
• And major and minor appliance such as air purifiers, dishwashers, refrigerators, and freezers.

Tax Credit For Appliances

Tax credits are better than tax deductions because

• They are not income-qualified,
• And you take the money directly off your taxes rather than taxable income.

To claim your tax credit for appliances, you’ll need to fill out the IRS Form 5695. Once finished, enter the information on your IRS Form 1040 as well. To prove your claim if the IRS ever conducts an audit, keep every appliance’s receipt and its Manufacturer’s Certification Statement.

If you’re eligible, don’t forget to get your appliance tax credit this year. Save on appliances, reduce your taxes with the tax credit for appliances, and keep the money that’s rightfully yours.

Tom Papageorge owns Atherton Appliance and BSC Culinary. Tom is passionate about running two family-owned companies that have specialized in kitchen appliances and kitchen remodeling since 1956. He lives and works in Atherton, CA. During his spare time, he loves spending time at his winery in Sonoma County.