Although the $8,000 tax credit has expired for first time buyers, many folks are still eligible for another home-related tax credit that's available through the end of the year. The American Recovery and Investment Act of 2009 provides homeowners a tax credit for select energy upgrades on existing homes. Windows, doors, water heaters, insulation and other products are eligible. The tax credit is equal to 30 percent of cost of eligible product, up to $1500 for all improvements combined during 2009 and 2010. Manufacturer certification statements are required to be eligible for the tax credit. More information is available on the EnergyStar.gov website.

Chris Farkas       www.iHomeSourceTeam.com

      

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