2012-2013 Tax Credit for Window FilmA provision in the recent "Fiscal Cliff" Legislation has created a tax credit
opportunity for window films installed in residential structures. Under the legislation, the qualifying credit is 10% of the film cost
with a maximum total credit of $500. The new
policy is retroactive to January 1, 2012 and expires December 31, 2013. Money in Your PocketA tax credit directly reduces your income tax, unlike a deduction, which reduces the amount of income subject to tax. The credit then directly increases the tax refund you receive or decreases the amount you have to pay. Homeowners can receive a 10% credit on the costs of window film, up to $500. Installation charges do not apply. Making it SimpleComplete IRS form 5695 and file with your Income Tax Return. Forms are downloadable at www.energystar.gov, along with a list of other available energy efficiency tax credits. Maintain copies of the dealer invoice and the manufacturer's certification statement for your records.
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Two Ways to Save MoneyEnergy efficiency can lower your federal tax bill and your monthly energy bill. Heat gained through windows makes up to 40% of your summer utility bill. Solar control window film reduces heat gain by 80%, which helps lower energy consumption. One study showed an average summer cooling cost savings of $105. Other Benefits of Window FilmIn addition to money savings, window film can help to increase indoor comfort, reduce fading of your home furnishings, and protect your family against harmful UV rays. Window film is also energy efficient. According to the Alliance to Save Energy, energy efficiency is the quickest, cheapest, and cleanest way to extend our world's energy supplies. To Purchase FilmFor professionally installed window film, visit llumar.com, vista-films.com, v-kool.com, or huperoptik.com to find a dealer near you. For do-it-yourself window film, look for the Gila brand at a local home improvement store or visit gilafilms.com. Qualifying Products |