Looking to make home improvements to help keep energy costs down this winter? The federal government is offering some financial incentives in the form of tax credits.The credits can be claimed on a homeowner’s income taxes for 2009 or 2010, whatever year the improvements were purchased. With a credit, the amount comes off any taxes you owe. Also, the credit is nonrefundable, meaning it allows taxpayers to lower their tax liability to zero, but not below zero, according to the Internal Revenue Service.It’s a good time to be thinking about improvements, says Ronnie Kweller, spokeswoman for the Alliance to Save Energy.Upgrade your insulation, windows, doors, roofing, heating and air-conditioning system or water heater, and you could qualify for a federal tax credit for 30% of the purchase price of the product — up to a $1,500 maximum credit.To qualify for the credit, you must place those purchases in service between Jan. 1, 2009 and Dec. 31, 2010.
By Amy Hoak, Oct. 11, 2009, WSJ

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