Got your taxes done yet? Yep, it’s that time of year… the weather’s getting warmer, the flowers are starting to bloom, and the tax forms are staring at you from your desk.
April 15th isn’t far off, so its time to get your financial situation organized, and figure out if you owe the government this year, or if you’ll be seeing a refund. Fortunately, if you’ve done any green upgrades at home or to your place of business — installed energy efficient appliances, doors or windows, added insulation, or even bought an eligible alternative fuel or hybrid vehicle — you may have good reason to expect a refund… most of these purchases qualify you for state and federal tax incentives.
Like most deductions and credits, though, the incentives available for these purchases require they meet specific standards… and those standards can change from year to year. You’ll want to make sure you have the most up-to-date information available on these incentives, and know exactly what you need to do to claim them.
Need information on green tax deductions? Check out the Green Tax Saver guide.
Green policy and advocacy group the Green Research Council has published a number of guides related to the green economy, including e-books on green jobs and a green guide to the 2009 stimulus package. The second edition of its Green Tax Saver guide provides straightforward information on the expenditures you can deduct, and where to do so in your tax forms.
GRC sent me a free review copy of the guide, and I was impressed with its no-nonsense approach. Need to know if the storm doors you installed qualify for a deduction? Or a new water heater? Or a biomass stove? The guide provides the exact specifications these purchases must meet to qualify for incentives. It also lets you know which forms you need to request and fill out in order to qualify for the deduction or credit.
The guide provides information for both federal and state incentives. Granted, the state information isn’t as thorough (that could take volumes), but you can easily find out if your state offers a particular incentive, and then take advantage of resources to which the points you in order to find out the details.
It’s good to see that the government is supporting the transition to a green economy by supporting individual, family, and business investments in energy efficiency, green building, and renewable energy. This little book could be just one more investment that lets you take full advantage of this government action.
We are selling this guide through an affiliate arrangement with GRC… I think you’ll find it helpful as you buckle down with those tax forms. If you didn’t make any improvements last year, this may be a great product to pick up to figure out how you can lower you environmental footprint while also keeping your tax bill in check next year. Click here to view more details (and, yes, that’s an affiliate link).
Know of other good resources on green tax incentives? Let us know about them…