Tax Credits to Save Even More Money
Building energy efficiency tax incentives are the Residential Energy-Efficiency Tax Credit (IRC Sec 25C), the Energy Efficient New Home TaxCredit (45L) and Energy Efficient Commercial Buildings Deduction (179D). All have been extended retroactively from January 1, 2018 through December 31, 2020.
The 25C credit helps homeowners make energy-efficient improvements using better insulation (and windows, doors, HVAC systems, hot water heaters and roofing). This 10% tax credit is capped at $500.
The Energy Efficient New Home Tax Credit (45L) provides a $2000 tax credit for builders of homes that use 50% less energy for space heating and cooling, relative to chapter 4 of the 2006 IECC code, and a tax credit of $1000 to manufacturers of Energy Star-qualified manufactured homes.
The Commercial Buildings Tax Deduction (179D) has provided building owners with a deduction of $1.80 per square foot of floor area for buildings that achieve 50% annual energy savings beyond ASHRAE 90.1-2007. The deduction is pro-rated for buildings unable to meet this threshold, providing 50 cents per square foot for the subsystem of a Building Envelope with a 10% energy savings.
If you used Foam it Green in 2018 or 2019, ask your accountant if amending your returns would be beneficial to you. And, if you didn’t do these projects yet – you can take advantage of these credits this year since the extension goes through 2020!
As always, if you are insulating a rental property or a commercial property, the expense is always deductible. It is classified as repairs and maintenance costs.
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On top of saving up to 10% on your kits and up to 40% on your energy bills, you’ll also save when you order today:
- FREE 17 Extras Including a hooded Tyvek suit, goggles, gloves, nozzles and fan spray tips.
- FREE $50 Coupon for your next order.
- FREE 24/7 Support that fits your schedule.
Save this Manufacturer Certification Statement and keep for your files. The certificate does NOT need to be submitted with your tax return.
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If you’d like to start saving money and time today, buy Foam it Green Spray Foam Insulation>> now or call us at 800-516-0949. In 60 seconds you’ll be on your way to paying lots less when you use Foam it Green.