2013 Tax Credit Information *Expired December 31st, 2013
What is a tax credit?
Unlike a deduction, which reduces the amount of taxable income, a tax credit directly reduces the tax itself. A tax credit can amount to considerable savings on your tax return. http://www.energystar.gov/
What is the extended 10% Tax Credit?
The credits are for 10% of the cost of certain energy efficient improvements up to $500, for insulation, cool roofs, doors and other high performance products. There is a $200 maximum for windows (must be ENERGY STAR windows), a $50 maximum for circulating fans, $150 limit for furnaces and boilers and a $300 limit for central A/C, water heaters, air source heat pumps, and biomass stoves. The extended bill is retroactive from January 1, 2012.
How do I know which products are eligible?
This credit applies to certain products, including doors, windows, insulation and other high performance products. To figure out if your purchases apply, simply enter the SKU of the item, found on your receipt, or visit http://www.energystar.gov/ for eligible Products.
Where can I purchase qualifying products?
Menards® has a large selection of high efficiency products for your home. The purchase of these products can mean huge savings in your energy bills, even without the tax credit. They also conserve our natural resources.
What do I do to get my Energy Tax Credit?
For tax filing purposes, simply save your receipts when you purchase a qualifying item and claim on your taxes. *For products "placed in service" in 2013, you need to file the 2013 version of IRS Form 5695 and submit it with your 2013 taxes (by April 15, 2014).