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Health & Fitness

Should you Purchase Energy Efficient Products Before 2013 Ends?

If you need energy efficient products you should consider purchasing them before the end of the year because the credit expires after 2013. The credit is 10% on the first $5,000 of qualified purchases with the maximum amount of the credit being $500. Some qualified purchases for the credit include furnaces, heat pumps, boilers, waters heaters, central air conditioners, building insulation, roofs, windows, circulating fans used in a qualifying furnace, biomass, stoves that use qualified biomass fuel.

The maximum amount of the credit is $500 for purchases made in 2011, 2012, or 2013 meaning if you already claimed this credit prior to 2013 then you are not eligible for it again.

Please consult with your tax advisor prior to making any purchases to see if you qualify for the credit, every person’s tax return is different so it all depends on your individual situation whether or not you can get the credit.

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