Throughout our extensive service area of Northeast Ohio, Washington D.C., Maryland, Pennsylvania, Delaware, New Jersey, and Northern Virginia, parents are sending their kids back to school, and many frugal parents are taking advantage of tax holidays. What is a tax holiday? It is when state governments drop the taxes on certain purchased goods that have particular significance like back to school gear for families preparing their kids for school. But this tax break is only for a limited time.
If you live in our Maryland service area, we have good news! Tax-free week for 2016 is from August 14-20. That means there is still time for you to take advantage of this discount!
There are some restrictions, however. The Maryland tax week only applies to clothing and footwear. It does not cover school supplies or computers, like in Alabama, Florida, Missouri, New Mexico, South Carolina, Georgia, and Tennessee. And, qualifying clothing and footwear must be under $100. But, hey! That is still a really good deal, especially if this is the one time of year when you get out and buy clothes for your kids. The more clothing and footwear you buy, the more you’re really going to feel the relief.
School supplies aren’t the only items that get a special tax holiday. Some states drop taxes for hurricane equipment and generators in preparation for the hurricane season. In Louisiana, they have a tax holiday for firearms, ammunition, and hunting supplies to help bolster the fall hunting season; and some states give tax relief for ENERGY STAR items, to help defer the cost of electricity. In fact, February 18-20 of 2017, Maryland will have its next tax free week on these items.
Current ENERGY STAR items that are known to be tax-free during February 13-15, 2017 tax free days are air conditioners, washers and dryers, furnaces, heat pumps, boilers, solar water heaters, standard size refrigerators, dehumidifiers, programmable thermostats, compact fluorescent light bulbs, and LED light bulbs. For a detailed list of qualifying ENERGY STAR products that are eligible for tax exemption, visit www.marylandtaxes.com.
At Window Nation, we have a wide selection of windows that are ENERGY STAR compliant, but the focus of Maryland’s ENERGY STAR tax exemption seems focused on helping to reduce electricity consumption in the state. When it sets its sights on helping families and business reduce their heating and cooling costs, we’ll let you know because that is where Window Nation ENERGY STAR windows shine. Until then, get out there and enjoy the discount for school footwear and clothing, compliments of Uncle Sam! Every little bit counts.
The time has come when homeowners across the country are eager to get started on their spring home improvement projects. Whether they are indoor projects or outdoor projects, you can count on a busy season for home improvement companies nationwide. But we wanted to remind you before you tackle your next project, that energy efficient home improvement projects are eligible to receive energy tax credits! That means a savings for you now and also, long-term savings that comes from having a more energy efficient home. With the many different projects out there, energy efficient replacement windows are known to be eligible for energy tax credits.
Even better is that Congress has decided to make energy tax credits retroactive. So if you went all out in 2012 making energy efficient improvements to your home, you may still be able to receive a tax credit on this year’s returns!
Energy tax credits have many people and corporations excited. From an article posted to the Beacon Journal, “Obviously we think it’s a really great move to help consumers afford [improvements] and encourage them to think about making these energy-efficiency investments in their homes,” said Ronnie Kweller, a spokesperson for the Alliance to Save Energy, a Washington energy-efficiency lobby.
This is great news for both homeowners and energy efficiency advocates like our team of replacement window experts at Window Nation. We have always believed that creating an energy efficient home is one of the smartest home improvements you can make. Even windows that were made just 10 years ago do not prove to have the same great energy efficient technologies as today’s replacement windows. In addition to using fewer resources, homeowners save money on their heating and cooling bills!
Keep in mind, that as with any tax credit, there are eligibility regulations. We have created a document for you to help determine whether or not your recent or future home improvement projects are eligible to receive this year’s energy tax credits. Click here to view the 2012 – 2013 Tax Credit Information page.
If you are ready to get started with your home’s energy efficient replacement windows, please contact Window Nation today. Our service area extends from Ohio including Cleveland, to the D.C. Metro, to Baltimore, Maryland and to the Carolina’s. So, if you are ready to create a more energy efficient home AND enjoy the energy tax credits from your replacement project, please give us a call today or stop by one of our store locations near you!
It’s here! Tax season that is, and what better time to remind you that some of the home improvement projects you’ve been contemplating or completed last year now qualify for tax credits for 2012 and 2013. If you’ve been thinking about buying energy efficient replacement windows or doors but have been holding off, the window replacement professionals here at Window Nation have put together some information on the 2012 – 2013 tax credits.
Qualifying for the 2012 – 2013 Tax Credit:
To qualify for the energy tax credit, homeowners must purchase and install ENERGY STAR®-qualified windows, doors or other eligible products. Please note not all ENERGY STAR products qualify for tax credits. You can review the list of eligible products by visiting http://www.energystar.gov/index.cfm?=tax_credits.tx_index.
Consumers can claim a credit of 10%, up to $200, of the purchase price on qualifying windows. They can also claim 10%, up to $500, of the purchase price of qualifying doors. This includes the purchase price only and does not apply to installation costs. Tax credits under this law are capped at a cumulative lifetime total of $500 for all qualifying products installed from January 1, 2006 to December 31, 2013. Check with your tax professional to see if you qualify.
Don’t forget: you must purchase and install qualifying products by December 31, 2013 to get the credit. Save a copy of this document –https://wnationstaging.wpengine.com/2013energytaxcredits — and your contract in order to claim the tax credit on your Federal filing for the 2012 or 2013 tax year.
At Window Nation, we have over 35 years of combined experience in the installation of energy efficient windows, doors and siding. If you would like to learn more about how to create an energy efficient home and even save money on your heating and cooling costs from our energy efficient products, please contact Window Nation today. Our service area extends from Cleveland, OH; Washington D.C.; all of Maryland; Northern Virginia, to the Carolinas.
We look forward to working with you and helping you get your 2012-2013 energy tax credits! Give us a call today to get started.