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Monday, January 11, 2016

Tax Credit Opportunity

Not everyone looks forward to tax time, but we have GOOD NEWS!  The Federal Government is providing an opportunity for you to receive a tax credit of  $300.00 for wood burning stoves purchased and installed in a primary residence.  The credit is retroactive for 2015 purchases and installation, and current through December 31, 2016.

The credit is offered for wood stoves that are 75% efficient or higher.  Here at Woodstock Soapstone we make it easy for you as all of our current wood stoves exceed the requirement.  The certificate noting this is available to download from our website.  

Please note: Homeowners who have taken advantage of previous energy tax credits may not be eligible for the current tax credit. There is a maximum “lifetime” energy tax credit cap of $500, retroactive to 2006. If a homeowner has used $500 or more in previous energy tax credits, he/she may no longer be eligible for the $300 credit currently offered.

You will find more information regarding this tax credit on our website at: http://www.woodstove.com/tax-credit-faq.  If you have questions regarding how you personally qualify for this federal tax credit, please see your accountant or The EPA websites http://www.epa.gov/burnwise and www.energystar.gov.