Home Improvements — Going Green

There has been a lot of talk about the Emergency Economic Stabilization Act of 2008,. But do you know what it means for you? If you use energy-efficient products in your home, the law expands and extends valuable federal tax credits for homeowners who make certain upgrades.

Benefits include lower home energy bills, increased indoor comfort and reduced air pollution.  In addition, the energy-efficient products eligible for the new federal tax credits actually lower the amount of federal income taxes that taxpayers must pay Uncle Sam. Here’s a look at how much you could save if you took advantage of some of  these tax credits (but remember that your energy savings each year may be greater than the one-time tax savings):

* Maximum of $500 total for home improvements.

In some areas of the country, consumers also will be eligible for utility or state rebates or state tax incentives for the same homes, vehicles and equipment.

Source: Alliance to Save Energy

Home Improvements — Going Green