Plenty Of Free Stimulus Money Available
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Updated: 8:24 PM Feb 20, 2009
Plenty Of Free Stimulus Money Available
A plethora of tax credits could have you saving thousands.
Posted: 5:12 PM Feb 20, 2009
Reporter: John Tramontana
Email Address: john.tramontana@wilx.com
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With a price tag of nearly $800 billion, plenty of stimulus money is up for grabs, you just need to know where to look. New tax credits for 2009 and 2010, could help to save you thousands of dollars, especially on home improvements.

"If you have $5,000 worth of improvements the government will give you $1,500 for those improvements. so that's pretty substantial," said CPA Dan Warmels.

He says there's now a 30% tax credit for new windows, insulation, and even furnaces with a maximum savings of $1,500. It's good for just about anything that will make your home more energy efficient, and while these incentives are nothing new, the amount is unprecedented.

"If you were going to do it anyway, this really pushes you for the fact that it's much more affordable."

There was a similar credit in 2007, but it was only for 10% and no more than $500. This one is sure to save consumers more money, and may even help to boost the local economy.

"It's massive for people."

Denny Duchene of Pinnacle Exterior Modeling says his company's sales are already on the up and up.

"Already, even with the talk of incentive programs, in the last two weeks we've seen a huge spike in people asking about tax credits and our sales have gone up accordingly."

The improvements could also save you an additional 30 to 40% on your energy bill. a savings to the average homeowner of about $600 to $800 a year. Warmels says these credits usually work.

"I think people will certainly look at these things twice and hopefully do the improvements, save energy, and get people in our area back out to work and put windows and things in."


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