It’s tax season and we know you are looking for ways to get the most out of your taxes. Take advantage of the federal tax credit available to qualifying equipment purchases!
If you purchased a high efficient furnace or A/C system in 2017 you may be able to get a $500 tax credit.
Qualifying equipment must meet the following standards:
A/C systems – Must have a SEER rating of 16 or higher. If they meet that rating you can get up to a $300 tax credit.
Furnaces – Must have an AFUE rating of 95% or higher. These units qualify for a $150 tax credit. If the furnace has a variable speed blower then you can get an extra $50 tax credit.
Between tax credits and utility rebates, you may be able to get $1,000 in benefits from your new equipment.
What Is a Tax Credit?
Tax credits reduce the amount of income tax you owe to the federal and state governments. A tax credit is a dollar-for-dollar reduction of the income tax you owe.