More "Cash For Clunkers?"
Everyone probably heard the term "Cash For Clunkers", one of the government past initiatives to spur new auto sales by giving people a sizable tax credit when turning their old gas guzzlers in for new, more efficient models. This program was so popular with consumers that it ran out of cash very quickly - but there is one more way to get cash for your old clunker!
You can turn in your old, energy-gobbling furnace for a new, more efficient model, and get up to $1,500 tax credit on this year's taxes. So, if you are ready to upgrade your home comfort systems this could be the best time ever, especially since the Economic Stimulus Legislation signed into law in February 2010 offers now $300 million in rebates for purchases of energy-efficient furnaces, air conditioners, windows and doors, or insulation in homes. It also extends and expands tax credits through 2010.
Can you get the entire $300 million? No, but you can get a 30% tax credit of up to $1,500 toward a qualifying purchase - which is three times higher than the tax credit for 2008! Just give your local contractors a call and talk with them about how you can qualify for the energy-efficiency tax credits.