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Local Business Offers $1500 Tax Credit
(by Rita DeLong, DeLong’s Heritage Heating - June 22, 2009)
Are you confused about whether you can continue burning your old woodstove? Well, there is way more good news than bad news. The only bad news is that when it comes to a stove manufactured before 1991, it has done its time and needs to be replaced with a high-efficiency unit. And that’s really not such bad news because it will enable homeowners to do their share in keeping our environment healthy while keeping the home warmer.
The extremely good news is that as a part of the American Recovery and Reinvestment Act, advocates succeed in including a tax credit for the purchase of a qualifying, high-efficiency biomass-burning stove to help consumers fight rising home heating costs. (The term “biomass” refers to wood, pellet or multi fuel-burning stoves). This translates into a tax credit of up to $1500 for purchasing such a unit for one’s primary residence in 2009 and 2010. This type of tax credit reduces the tax you pay, dollar-for-dollar, and is therefore even more valuable than a “tax deduction”.
The manufacturer of the biomass-burning appliance must provide certification that the product meets or exceeds the IRS efficiency requirement. Local hearth specialty stores should be able to provide the consumer with certification of products which meet the guideline.
In addition to this tax credit, the local “Butte County Air Quality Management District” is working toward further incentives which encourage homeowners to replace their old gross-polluter stoves. In short, this is an excellent time to get out and see the new products which can dramatically help in reducing home heating costs and eliminate the need to stress over “No-Burn” days, which now apply to non E.P.A -certified stoves.
Well-informed hearth-specialty dealers will be able to assist you in selecting the best product for your needs and steer you in the right direction for qualifying for this tax credit as well.
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