The $1,500.00 Federal Tax Credit is running out on December 31st. If you are thinking that a new heating and air purchase is in your future it may be a good time to get ahead of the game and take advantage of this incentive.
A new furnace and air conditioner can save you money in other ways. If your current system is at least 10 years old you may be able to cut your cooling bill drastically as well as your heating bill. Even the most basic systems use less energy than ones installed a decade ago.
Plus with modern requirements on duct work installation and duct testing we can dramatically improve comfort as well as efficiency. It is amazing what dramatic effects can be achieved simply by sealing duct work.
So how does the tax credit work? Well, it is not a rebate or deduction but rather a nonrefundable credit. So when you have qualifying equipment installed by a licensed Heating and air Contractor like Bonney Plumbing, Heating and Air, you can give the qualifying documents for your system to your Tax Preparer and they will apply this to your taxes. The credit goes against what you owe, so there are circumstances where there may be little or no credit if you do not owe any taxes for the year. Be sure and talk with a professional tax preparer about this credit and how it would apply to you.
With the year coming quickly to the end it is important to go ahead and get your system scheduled for replacement. Installation dates are running out so be sure and call a reputable company like Bonney to schedule before it’s too late.
Call Bonney Plumbing, Heating and Air at 800-444-0551 today.