direct-flo Posted April 7, 2010 Report Share Posted April 7, 2010 The Texas Trade Up Appliance Rebate Program kicked off this morning at 7am. They are experiencing a high traffic volume. A sample of some tax credits/rebates that are available. Earned Income Tax Credit or the EITC http://www.irs.gov/individuals/article/0,,id=96406,00.html A refundable federal income tax credit for low to moderate income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit. To qualify, taxpayers must meet certain requirements and file a tax return, even if they did not earn enough money to have a filing requirement. Renewable Energy Incentives http://www.seco.cpa.state.tx.us/re_incentives.htm Although the state does not have a program at this time that provides funding of renewable energy equipment on an individual basis, there are tax exemptions available in certain instances. For example businesses that either use or manufacture or install solar or wind energy can receive franchise tax deductions and/or exemptions. There also exists a property tax exemption involving solar, wind, biomass, and anaerobic digestion for business installation or construction of such systems. Texas residents can also check with their local utility providers, as some have energy efficiency programs that offer low cost loans/rebates and advice on renewable energy technologies. Texas Trade Up Appliance Rebate Program http://www.texaspowerfulsmart.org/ For rebate amounts and additional product information, see the Texas Powerful Smart Web site. Refrigerators, Freezers, Room Air Conditioners, Clothes Washers, Dishwashers, Central Air Conditioners, Air-Source Heat Pumps, Hot Water Heaters Link to comment Share on other sites More sharing options...
direct-flo Posted April 7, 2010 Author Report Share Posted April 7, 2010 I found this site that I think covers just about every related to Texas Incentives/Policies for Renewables & Efficiency Database for Incentives for Renewables and Efficiency Link to comment Share on other sites More sharing options...
ChuckLicata Posted April 7, 2010 Report Share Posted April 7, 2010 Good stuff, Tom! That's great that you look out for everyone in Tax Season! Shameless plug - I highly suggest anyone looking for help follow Tom's advice and also consider hiring a good tax accountant. I use Rebecca Cooper, CPA (there's the plug) and her expertise has REALLY helped keep our businesses on the up-and-up. Whether you use Rebecca or somone else, I suggest an accountant for anyone and everyone - to me, they're well worth the money you spend! Link to comment Share on other sites More sharing options...
NickHolt Posted April 7, 2010 Report Share Posted April 7, 2010 Chuck, your "shameless plug" to a THR employee is allowed in this case since THR is a paid Lone Star Speedzone advertiser. Normally "shameless plugs" are removed unless the plug-ee has an advertising agreement with LSS. I know this "shameless plug" issue has caused some confusion in the past, but Lone Star Speedzone, besides being my personal passion, is a business venture and all businesses need revenue to survive. And since we do not charge our members, we rely on advertising revenue to pay at least some of the bills. So I am very careful to protect our paid advertisers by not allowing plugs or advertising for businesses that do not have an advertising agreement with LSS in place. Of course, race tracks are exempt as are racing series. And I have "internet handshake" agreements with several track photographers that allow them to post a link to their photo websites in return for sharing their work for all of us to enjoy. And I do shamelessly (and without guilt) plug my racing suspension seminars. Yes, I realize that there are gray areas, but I just do my best to keep things on an even keel around here. And when you try to do that, you are bound to upset a few. Goes with the territory I guess. Nick Link to comment Share on other sites More sharing options...
abrungot Posted April 7, 2010 Report Share Posted April 7, 2010 Tom your efforts to help us fellow races save $ so i can affort to race are greatly appreciated.. Link to comment Share on other sites More sharing options...
debwill Posted April 7, 2010 Report Share Posted April 7, 2010 Thanks for the tip, Tom, but it looks like the appliance rebate program has already run out of cash! See the following article: http://www.ksat.com/news/23079968/detail.html I'll try to refrain from political bashing, but somehow I'm just not surprised. Link to comment Share on other sites More sharing options...
Mel Posted April 8, 2010 Report Share Posted April 8, 2010 Thanks for the tip, Tom, but it looks like the appliance rebate program has already run out of cash! See the following article: http://www.ksat.com/news/23079968/detail.html I'll try to refrain from political bashing, but somehow I'm just not surprised. Tom is right on the mark. I was able to secure one of those tax credits this morning for my mother. Right now is still one of the best times to upgrade your indoor comfort system. All manufacturers are offering large consumer rebates, there is a tax credit still in effect until 2011 that is up to $1500, CPS has some excellent rebates for high efficiency equipment, also on new duct systems, and GVEC has some very nice rebates also. A lot of the local municipalities are kicking in some sort of rebate. I have been in this business for over 25 years and have never before seen the rebates and tax credits there are available for consumers today. The SECO tax credit was a very good thing but the folks in the industry anticipated it would not last long. All these rebates are designed to eliminate old low efficiency equipment and replace it with the latest greatest high efficiencies. Just the other day an AC contractor was able to offer his customer $3000 in rebates and tax credits for a new system, and this was without the SECO rebate. IT'S ALL GOOD! And still one of the best times ever to upgrade your indoor comfort system. Mel Link to comment Share on other sites More sharing options...
HiTech Posted April 8, 2010 Report Share Posted April 8, 2010 well heck save some money here .and you can spend the saveings on your racecar ..so this is a direct relationship to racen ... Link to comment Share on other sites More sharing options...
ProTree Posted April 8, 2010 Report Share Posted April 8, 2010 heard sgt sam say you use it, you claim it at tax time Link to comment Share on other sites More sharing options...
jwmbishop Posted April 8, 2010 Report Share Posted April 8, 2010 I was able to secure one of those tax credits this morning for my mother. Quick - head for Vegas while the luck is still on ya! At the Wednesday peak, the Web site for the state comptroller's office received 1,700 hits per second and a toll-free switchboard was fielding about 1,000 calls per minute. Link to comment Share on other sites More sharing options...
direct-flo Posted May 29, 2010 Author Report Share Posted May 29, 2010 I am curious if you or anyone you know actually got thru and received a voucher. I only know two people who had someone answer the phone for them. One of them told me he called from 8am till 430 pm only to be told he was now on the waiting list. I understand the website crashed and the phone jammed. (bureaucracy at its best) Link to comment Share on other sites More sharing options...
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