If this is construed as political (which I feel is not), please just lock it or shoot me a PM and I will lock it.
As many of you know, this past year, their are several tax reimbursements available if you purchased a specific kind of furnance, windows, insulation, etc etc.
I purchased new windows that conformed to the incentive rules.
I am looking at 30% of what I spent up to 1500$.
I am dropping my taxes off at my CPA today and we discussed this (as she also fall into the category as they bought a new furnance). Apparently all you need to do is fill out a form from the IRS Website stating what you bought and that's it.
I find that very "loose" so my accountant said to keep the receipts (which I do have) and a printout from the manufacturers website proving what you bought corresponds to the specs of the rebate; this is only important in the odd chance you get audited.
I am sure there are some on here that have done this (I know MonsterLover put in Insulation that probably is eligible).
thanks in advance
I pay someone to do my taxes, I know you can file online for free, etc etc, but mine are a bit too complicated, so I choose to pay a former co-worker 250$ to do both ours. Which is nice because she runs them as separate and joint, looking to maximize our refund, which I hope doesn't exist other than the window rebate and probably some money back from my wife being in school (Made the dean's list again!!!)
It isn't political as posed.
I bet one of our illustrious members can fix that. [roll] [bang]
Quote from: ducpainter on March 07, 2010, 07:03:22 AM
I bet one of our illustrious members can fix that. [roll] [bang]
I hope not.
I'd really like some outside advice on this one as it is kind of important to me as it is quite a bit of money and want to ensure it is filed properly so I do in fact get it or it offsets money I might owe.
You're asking how to file to get the bucks back?
I'd start with who you bought they windows from. They should know all the ins and outs and if they don't they should know who to send you do that would
Quote from: Monsterlover on March 07, 2010, 08:16:27 AM
You're asking how to file to get the bucks back?
I'd start with who you bought they windows from. They should know all the ins and outs and if they don't they should know who to send you do that would
Lowe's doesn't know shit. They just know how to work their computer to get you the window you want that conforms to the rebate. As for fulfilling getting the dollars back, they haven't a clue nor do they care.
Shouldn't the person you're paying $250 know this?
since you have receipts, I wouldn't worry too much.
Quote from: ducpainter on March 07, 2010, 08:24:29 AM
Shouldn't the person you're paying $250 know this?
+1
Quote from: ducpainter on March 07, 2010, 08:24:29 AM
Shouldn't the person you're paying $250 know this?
There is that as well.
Also, you could call the manuf. of the windows
http://www.irs.gov/pub/newsroom/marketing/internet/home_energy_tax_credits.mp3 (http://www.irs.gov/pub/newsroom/marketing/internet/home_energy_tax_credits.mp3)
The IRS site is pretty good for finding info.
mitt
FYI.... you might also check into your local utility company and see if they are offering up any rebates on window upgrades. Every so often here in Cali, PG&E gives rebates to folks who purchase energystar rated windows.
I had a few windows replaced last fall, which I purchased through a local siding company. Said company furnished a document showing what percentage/dollar amount is eligible to be deductible.
So my CPA gets that and receipts and we go from there.
Quote from: ducpainter on March 07, 2010, 08:24:29 AM
Shouldn't the person you're paying $250 know this?
Yes, but was seeking info on a second opinion as I like to get a few of them when dealing with the IRS.
http://dsireusa.org/ (http://dsireusa.org/) will answer many questions State by State.
i dont know all about the rebates for "green" home upgrades..
my question would be...as far as the rebates...are they "deductions", or other rebates?
if they are deductions..dont they fall under the "either-or" standard vs. itemized deductions?
just curious, because even if you spent 3k on new windows, thats still less than 1k off your taxes, vs. whatever you might get as a standard deduction. so, if it is under the either - or catagory....kind of a fail.
Tax Credits. Right off the top!
[thumbsup]
Quote from: ducpainter on March 07, 2010, 08:24:29 AM
Shouldn't the person you're paying $250 know this?
Replaced my furnace in 2010 so I'll get the rebate next year. My accountant just said he'll take care of it....
Quote from: mitt on March 07, 2010, 11:01:23 AM
The IRS site is pretty good for finding info.
mitt
Make sure to surf that site from an IP address that cannot be tracked back to you. Also wear your tinfoil hat. It would probably be a good idea to wear tinfoil underpants, too. [evil]
Quote from: angler on March 08, 2010, 04:15:14 AM
Replaced my furnace in 2010 so I'll get the rebate next year. My accountant just said he'll take care of it....
You pretty much just need to fill out a form of what you bought.
Just keep receipts and backup in case you get audited.
Quote from: cyrus buelton on March 08, 2010, 04:17:36 AM
You pretty much just need to fill out a form of what you bought.
Just keep receipts and backup in case you get audited.
[roll] I was responding to the post I quoted - I know what to do, just hand it to my tax man. I have every single receipt for every expenditure I've put into my house, all totaled in a pretty little spreadsheet. When you do all your own work, that's how you establish your basis when you go to sell it. Also, since I run a business out of my house, large changes in my basis change how much deduction I can take for the office space. That is why he makes the big bucks. He is also very conservative, which I appreciate. I don't like paying the man, but I like being audited less.......
Quote from: angler on March 08, 2010, 04:23:08 AM
[roll] I was responding to the post I quoted - I know what to do, just hand it to my tax man. I have every single receipt for every expenditure I've put into my house, all totaled in a pretty little spreadsheet. When you do all your own work, that's how you establish your basis when you go to sell it. Also, since I run a business out of my house, large changes in my basis change how much deduction I can take for the office space. That is why he makes the big bucks. He is also very conservative, which I appreciate. I don't like paying the man, but I like being audited less.......
Isn't that what most do?
Quote from: cyrus buelton on March 08, 2010, 04:34:34 AM
Isn't that what most do?
Which part is what most do? Keep receipts? Keep a spreadsheet? Use an accountant? Hate paying taxes? Work from home? Take a home office deduction? I'm confused.
I'm going to stop now. I'm pretty sure we are saying the same thing.....
What he said!
[laugh]
Quote from: cyrus buelton on March 08, 2010, 04:17:36 AM
You pretty much just need to fill out a form of what you bought.
Just keep receipts and backup in case you get audited.
Doesn't this, in essence, answer the question you posed when you started this thread?
Quote from: Randimus Maximus on March 08, 2010, 10:50:32 AM
Doesn't this, in essence, answer the question you posed when you started this thread?
It just seems too simple to me......................
Maybe it's because how my mind works or what I do for a living, but just filling out some BS piece of paper saying I spent $xxxx.xx on windows and want 30% back of that is way too easy.
You could easily bullshit that paper, get the refund, never get audited, and live on with your life.
Just seems way too easy. that's all.
Quote from: cyrus buelton on March 08, 2010, 11:08:19 AM
It just seems too simple to me......................
Maybe it's because how my mind works or what I do for a living, but just filling out some BS piece of paper saying I spent $xxxx.xx on windows and want 30% back of that is way too easy.
You could easily bullshit that paper, get the refund, never get audited, and live on with your life.
Just seems way too easy. that's all.
go back a year and read about all the home-buyer incentive fraud. that's exactly what people do. some get caught, some don't.