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Now, Your New Endurance 50F Offers Even Faster Payback!
The American Recovery and Reinvestment Tax Act of 2009
This legislation includes a federal tax credit for biomass fuel stoves (used for heat or water heating) placed in service in 2009 and 2010 for 30% of the cost, up to $1,500. To qualify, the stoves must have a thermal efficiency rating of at least 75%.
This is not a tax rebate, but a direct tax credit! Homeowners should consult with their tax advisor regarding how this credit works. You’ll find additional information here: www.energystar.gov/index.cfm?c=tax_credits.tx_index
Purchase and install your new Endurance 50F bio-mass now and take advantage of this great tax credit.
Click and print the Endurance 50F Qualifying Energy Product Letter for your tax records!
Download Manufacturers Certificate here (PDF).
Tax Credit Frequently Asked Questions:
1. Tell me more about this tax credit?
On February 17, 2009 President Obama signed into law, H.R. 1, the American and Reinvestment Act (ARRA). The tax credit is a 30% tax credit of up to $1500 total over a two year period (2009-2010) for the purchase of a 75% efficient biomass-burning appliance. The credit applies to the purchase of the stove as well as installation. The credit is for new equipment, in an existing principle residence, owned and used where the tax-payer is the original owner of the stove.
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2. Does the Fahrenheit Endurance 50F qualify for the tax credit?
Yes! Click and print the Endurance 50F Qualifying Energy Product Letter for your tax records: Download Manufacturers Certificate here (PDF).
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3. How much is the tax credit?
The Tax Credit is for 30% of the purchase price up to $1,500. It is available for 2009 and 2010. However, the Tax Credit is an aggregate; the total $1,500 can include other energy efficient items. As an example, if you were to claim $800 on the purchase of a new stove, then you would have $700 available to purchase additional energy saving products (or use for stove installation) in the same tax year.
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4. How can I get the tax credit?
Consumers claim the credit on their federal income tax form at the end of the year. This new credit reduces the amount of tax you owe. The new credit is a reduction of total income tax at the bottom of your return, up to $1500. This tax credit is a non-refundable tax credit available for individuals who pay taxes and who make energy-conscious purchases to improve the energy efficiency of their home.
You must retain the receipts of purchase (and installation if applicable) and the Qualification Certificate for tax record keeping purposes. You should consult your tax professional with questions on how to obtain this credit after purchase of a qualifying stove.
Note: With regard to tax credits vs. tax deductions, in general, a tax credit is more valuable than a similar tax deduction. A tax credit reduces the tax you pay, dollar-for-dollar. Tax deductions - such as those for home mortgages and charitable giving - lower your taxable income.
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