In addition, the 2011 tax credits have placed maximum amounts that can be claimed for the various components for the HVAC system.  Most of the HVAC qualifying efficiency levels have remained the same.  Please call for details.

It's not a tax deduction; it’s a dollar for dollar Tax Credit! If you have a tax liability of $2,500 at the end of the year, you'll only owe $2000 if you purchase qualifying equipment this year.

Just ask one of our Comfort Specialists to explain how you can take advantage of this time-sensitive incentive. After all, it's not every day that Uncle Sam wants to put money in your pocket!!!

 

Frequently Asked Questions about the new Tax Credits

Does the tax credit apply to the cost of the equipment or equipment plus labor?

The tax credit applies to the installed costs of the qualified equipment, which includes labor.

What is a tax credit?

With a $500 tax credit, if the taxpayer owes $2000, in taxes, their liability is reduced to $1500. If they owe nothing, they can expect a $500 refund.

How will a taxpayer claim the credit and receive their money?

In the past, the IRS has directed taxpayers to use Form 5695, Residential Energy Efficient Property Credit. Taxpayers are not required to file anything more than the form, but are instructed to keep records of their installation.