Making energy-efficient home improvements and purchasing fuel-efficient hybrid electric vehicles is no longer just an environmentally friendly move -making these purchases could save you money at tax time.
That’s because the Energy Policy Act of 2005 will offer consumers federal tax credits for making energy-efficient purchases.
Using energy-efficient appliances and installing better windows and insulation can provide many benefits. In addition to lower energy bills, individual energy-saving action can increase comfort in the home and reduce air pollution.
By driving or buying or leasing a new hybrid gas-electric automobile fuel-efficient vehicle you can get an income tax credit of $250-$3,400 plus better mileage-meaning lower gasoline prices–and fewer emissions.
What Are Tax Credits?
One of the best benefits this year is the new tax credit offered by the Energy Policy Act. Qualifying products and vehicles can mean having to pay less at tax time.
Eligible homeowners don’t get an instant return on what they buy, like a rebate or a discount. Instead, they itemize the purchase on their federal income tax form and that...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
