Remodeling Stimulus

September 24th, 2009

Tax credits are now available for home improvements:

 - Must be “placed in service” from January 1, 2009 through December 31, 2010

-Must be for taxpayer’s principal residence, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, and    small wind energy systems (where second homes qualify)

- $1,500 is the maximum total amount that can be claimed for all products placed in service in 2009 & 2010 for most home improvements, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and small wind energy systems which are not subject to this cap, and are in effect through 2016

- Must have a Manufacturer Certification Statement to qualify

- For record keeping, save your receipts and the Manufacturer Certification Statement

- Improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) — use IRS Tax Form 5695 (2009 version) — it will be available late 2009 or early 2010

- If you are building a new home, you can qualify for the tax credit for geothermal heat pumps, photovoltaics, solar water heaters, small wind energy systems and fuel cells, but not the tax credits for windows, doors, insulation, roofs, HVAC, or non-solar water heaters.  

Is there a tax credit for insulation?

September 24th, 2009

Yes, insulation can qualify for a tax credit of 30% of the cost (not including installation/labor costs), up to $1,500 in 2009 and 2010. For insulation to qualify, its primary purpose must be to insulate (example: insulated siding does not qualify). It must also have a Manufacturer’s Certification Statement to qualify.

Typical bulk insulation products can qualify, such as batts, rolls, blow-in fibers, rigid boards, expanding spray, and pour-in-place.

Products that air seal (reduce air leaks) can also qualify, as long as they come with a Manufacturers Certification Statement, including:

  • Weather stripping

  • Spray foam in a can, designed to air seal

  • Caulk designed to air seal

  • House wrap

Recommended insulation levels (R Values) for your home.

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Source:

The law (Section 25C) specifies: … any insulation material or system which is specifically and primarily designed to reduce the heat loss or gain of a dwelling unit when installed in or on such dwelling unit, and meets the prescriptive criteria for such material or system established by the 2009 International Energy Conservation Code, as such Code (including supplements) is in effect on the date of the enactment of the American Recovery and Reinvestment Tax Act of 2009,

 

The IRS (Notice 2009-53) specifics: (a) An insulation material or system (including any vapor retarder or seal to limit infiltration) that–(i) Is specifically and primarily designed (within the meaning of section 4.03 of this notice) to reduce heat loss or gain of a dwelling unit when installed in or on the dwelling unit; and(ii) May be taken into account in determining whether the building thermal envelope requirements established by the International Energy Conservation Code (IECC) are satisfied.

Home Improvement News & Articles

January 18th, 2008

Whether you’re a homeowner or looking to become one, chances are you know how overwhelming choosing designs to suit your taste and lifestyle can be. Well, you’re not alone. If you’re confused and not sure what your style is, read on to learn before remodeling your kitchen or bath. It will make the process much easier for you and for your designer!

Victorian – Characterized by steeply pitched roofs, pointed arch windows, elaborate trim along roof edges, high dormers, lancet windows, and other Gothic details. Light fixtures range from chandeliers and kerosene and electric lamps to astrals and sconces. Cabinets are usually weathered looking and made of heavy, real wood with chrome pulls and knobs.

Modern – Moderns styles change from year to year. Most recent designs include sleek, straight and clean lines. Less is more, such as less accessories, hidden appliances, and minimal details. Common materials include stainless steel, marble, granite, and frosted glass. Basic geometric shapes and bold, bright colors such as reds, blues, and yellow or black and white are prevalent.

Southwestern – This style features a lot of detail and craftsmanship. Natural materials such as stucco and hand-painted fabrics are very common, as are wood, quarry tile, ceramic tile, earth tones, and vibrant accessories. Colors usually reflect the nature of the desert such as warm oranges, greens, tans and browns. Southwest kitchens usually incorporate ceramic materials and terra cotta elements.

Traditional – Plays up architectural details such as crown moldings, raised wood paneling and rich, deep colors to enhance the mood and traditional feel. Dark stains, honey tones, semi-opaque paints, wicker baskets, and oak cabinets add to the usually more formal feel than country style.

Country – Rustic, weathered look creates a warm, cozy feeling in a country style home. Common colors range from muted hues to earth tones. Exposed beams, pine paneling, brick and barn boards are elements used to express this style. Fabrics and patterns are a sure way to create a country feeling, as is the use of wallpaper and baskets.

Eclectic – A mix of old and new features combined for a harmonious look. This style is not characterized by a particular color palette, patterns, style, or material but is a mix of extravagant decorations from numerous eras, including hand-me-downs, second-hand items and other recyclables. Kitchens and bathrooms may include modern appliances mixed with antique decorations to the complete opposite.

Steps to a Safe Bathroom

January 18th, 2008

Nearly 200,000 people are injured annually in their bathroom, according to statistics from the National Safety Council. The most common accidents are slips, falls and scalding from hot water. Although not all accidents will ever be eliminated, the National Kitchen & Bath Association (NKBA) feels that a well-designed bathroom can also be a safe one. The NKBA has developed a few simple guidelines for homeowners to follow to keep their bathroom safe.

  • Ensure that slip resistant flooring is used in all areas of the bathroom. While most materials are slippery when wet; slip-resistant flooring materials help to eliminate many falls and reduce the risk. Any water on the floor should be wiped up as soon as possible to maintain safety.
  • Eliminate steps leading into tub or shower areas. Try to surround a tub with a platform where you can sit down prior to entering or exiting the tub.
  • Select shower doors carefully. Always use shatterproof glass in shower enclosures. Also, if the door is hinged, have it open into the room instead of into the shower. In the case of an emergency, this allows easy access into and out of the shower.
  • Install proper faucets. The NKBA recommends pressure-balanced and temperature-controlled valves in the bath and shower to prevent scalding. Also, install faucets in areas that are easily accessible from outside the tub or shower. Avoid having to stretch or reach for the water control.
  • Add benches and grab bars. Installing them within shower enclosures and near the entrance of tub greatly decreases the chance of accidental falls.
  • Put in emergency shut-offs for whirlpool tubs. Make sure that the shut-off can be reached from both inside and outside the tub area to ensure maximum safety.
  • Maintain safe distances between water sources and electrical switches. Use ground-fault circuit interrupters on electrical receptacles. They shut off when a hazard, such as moisture, is sensed.
  • Use cabinet locks. The bathroom holds many poisonous household products and prescriptions. Always place locks on cabinets where these substances are stored.