Helpful Tax Credit Information and Links

With our energy efficient tankless water heaters and our water saving fixtures you can save energy and money. You may even be eligible for tax credits.

The government has recently signed the American Recovery and Reinvestment Act of 2009. This will make significant changes to the amount which homeowner s can receive for tax credits. Most utility companies have their own rebate program too, listed below are a few links we thought would be helpful! While at your home your licensed plumber will help you decided which energy efficient model is best for you. Please contact us to schedule an appointment for more information.

http://www.energy.gov/

Information about federal tax credit for energy efficiency

http://www.energystar.gov/

What is a tax credit? You don’t receive an income tax credit when you buy the product, like an instant rebate. You claim the credit on your federal income tax form at the end of the year. The credit then increases the tax refund you receive or decreases the amount you have to pay.

Tax credits vs. tax deductions: In general, a tax credit is more valuable than a similar tax deduction. A tax credit reduces the tax you pay, dollar-for-dollar. Tax deductions – such as those for home mortgages and charitable giving – lower your taxable income. If you are in the highest 35-percent tax bracket, the income tax you pay is reduced by 35 percent of the value of a tax deduction. But a tax credit reduces your federal income tax by 100 percent of the amount of the credit.

http://ase.org/content/article/detail/2654

How to apply for tax credit

Energy Star information
http://www.energystar.gov/

For PSE customers
http://www.pse.com/

For Tacoma Power customers
www.mytpu.org

Find your local rebates
http://www.energystar.gov/

http://www.energysavers.gov/

Cash for clunkers Rebate form
http://www.cashforapplianceswa.com/