5 tips for tapping energy credits

Get tax savings for home improvements
Published on Mar 31, 2010

So you're slaving away on that tax form that's due April 15, and you're wishing you had done something -- anything -- in 2009 that could have eased the financial pain inflicted by your Form 1040. Sorry, can't help you there. But there's a rather long list of home improvements you could make in 2010 that not only have the potential to reduce your monthly utility bills -- they also could put a dent in your taxes. They are tax credits that homeowners can get through a federal stimulus package passed last year. In particular, the Existing Home Retrofit Tax Credit covers an array of energy-saving fix-ups -- from installing certain kinds of windows to powering your house with a windmill -- that qualify for a credit, according to Calli Schmidt, environmental communications director for the National Association of Home Builders. The tax credit for many of the energy-saving changes could be good for as much as $1,500, she said. If you want to upgrade your heating or cooling or ...