Tax Deadline Extended to April 17, 2012

Due to Emancipation Day, April 16, 2012 the deadline to file your tax return has been extended to April 17, 2012. All set ups and contributions to IRAs, Roths, and Coverdell accounts must be made by then.

Rachael Haas

(January 2012)

Don't Forget the Energy Efficiency Tax Credit was Extended Through 2011

The Energy Efficient Tax Credit was extended through 2011. However, the eligibility requirements and limits have changed. For any installations between January 1, 2011 and December 31, 2011 the credit is no more than 10% of the improvement costs , up to a maximum of $500. Special limits apply to the following improvements:

• High efficiency furnace and boiler - $150
• Air conditioner and heat pumps - $300
• Main air circulating fans - $50
• ENERGY STAR  Windows - $200
• Energy efficient water heaters - $300

The $500 maximum applies to anyone who received the credit from January 1, 2005 to the present. If you have already received the full $500 in a prior year you are not eligible for the extension. If you have only received a portion of the $500 maximum in prior years, you are eligible for the remaining difference up to $500. 

Rachael Haas

(January 2012)

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