Drew Parker, CCIM is the owner of The Parker Company in Greenville, SC. He and his team of experts are fully capable and ready to help you with your residential or commercial real estate needs.
The Parker Company is a full service real estate firm located in Greenville, SC, offering both residential and commercial services. The purpose of this blog is to provide relevant and useful tips to assist you in your real estate decision making.
Wednesday, March 21, 2012
New Listing!
Check out our latest listing in the Pebble Creek community! Looking for a beautiful 3/2.5 home, on a large lot, in a quiet neighborhood? Look no further. This home has all the features you would expect and so much more...Click here for a virtual tour. Give Annie or Drew a call today to schedule a showing!
Labels:
golf community,
greenville sc,
pebble creek
Wednesday, March 7, 2012
How to Claim Your 2011 Energy Tax Credits
While the 2011 federal energy tax credit of $500 is a far cry from what it was in 2009 and 2010, it is better than nothing! If you upgraded one or more of the following systems in 2011, you may be eligible to take advantage of the tax credit:
- Biomass Stove
- Heating, Ventilation, Air Conditioning
- Insulation
- Roofs (metal or asphalt)
- Water Heaters (non-solar)
- Windows, doors, skylights
- Storm windows and doors
Remember, with a credit you get a dollar for dollar reduction in your tax liability! Below are a few limits to the tax credit:
- Credit only extends to 10% of the cost (not 30% like in year's past). For example, you would need to spend $5,000 to get the full $500 credit.
- $500 is a lifetime limit. If you already claimed your $500 credit in 2009 and 2010 combined, then you are not eligible. However, if you only took $200 in the last two years, then you are still eligible to receive the remaining $300 in 2011.
- Check with your accountant, but with some systems the cap is less than $500. For example, there is a $200 cap on upgrading your windows.
- Not all products are created equal. Improvements have to meet the IRS energy-efficient standards to qualify for the tax credit. Find out what is approved at EnergyStar.gov.
- Tax credits cover installation cost SOMETIMES...Installation is covered for systems such as Biomass Stoves, HVAC, and non-solar water heaters, but is NOT COVERED for insulation, roof, windows, doors or skylights.
How to claim your credit:
- Determine if the system you installed is eligible by checking at EnergyStar.gov.
- Save system receipts and manufacturer certifications.
- File IRS Form 5695 with the rest of your tax forms in 2012.
Source: http://www.houselogic.com/home-advice/tax-credits/how-to-collect-2011-tax-energy-credits/
Labels:
2011 energy tax credits,
energy star,
IRS form 5695
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