Rebates and tax credits

Ask us how we can offer you a manufacturers $1400 rebate on selected Coleman products.

2011 Federal Tax Credit

There are a lot of reasons why homeowners turn to the experts at Mitchell Aire for their indoor comfort needs. Innovation, Comfort, Reliability and a knowledgeable design team has given Mitchell Aire a reputation for delivering superior indoor comfort technology that truly stands out from the competition. In addition, we offer a wide variety of products that not only meet the requirements for the Federal Tax Credit for Residential Energy Property Expenditures, but can provide years of substantial savings on monthly energy bills.

HOW THE PROGRAM WORKS

As part of an effort to reduce dependence on foreign sources of energy, the American Recovery and Reinvestment Act of 2009 provides a tax credit to help offset the costs of making energy efficiency improvements to your home. Some key details of the program are as follows:

• The tax credits apply to a variety of products (including installation costs) such as windows, doors, heating and cooling equipment and more.
• The amount of the credit of the installed cost of the qualifying products is up to a total of $500.
• If a qualifying purchase is not large enough to qualify for the maximum credit of $500, the remaining available tax credit can be claimed for additional qualifying purchases.

What is different in 2011?

2011 Tax Credits are available for Qualifying Residential Systems. The tax credit was modified on high-efficiency HVAC equipment and extended through December 31. 2011.  This program differs from the program in 2009-2010.

§                 The maximum Tax Credit amount is now $500.00.

§                 The maximum amount on qualifying AC unit is limited to $300.00.

§                 The maximum amount on a qualifying Furnace is limited to $150

§                 The new credit reinstates lifetime credit limits. This limit is on the total amount of credits a homeowner claimed between 2005 and 2011. NOTE: If you claimed 25c tax credits of $500.00 or more through this allowance, you are unable to claim new credits for improvements in 2011. Be certain to check with your tax advisor as some homeowners may not be eligible to take advantage of the 2011 tax credit.

THE ECONOMIC ADVANTAGE OF TAX CREDITS

The reason many homeowners are so excited about this program is because tax credits, unlike deductions, are subtracted directly from the total amount you owe on your personal income taxes. For example, if you complete your tax return and calculate that you owe the IRS $2,000, a tax credit of $500 will reduce your tax bill to $1,500. Of course, be sure to check with your tax adviser on how to best take advantage of the tax credits.

TAX CREDITS AVAILABLE IN 2011

To take advantage of the tax credits, you must purchase your qualifying high-efficiency comfort system between January 1, 2011 and December 31, 2011. All equipment MUST be installed by December 31, 2011.  And, your savings won't be limited to a one-time tax credit, you'll continue saving every month with reduced monthly cooling and heating bills. For more information, contact Mitchell Aire today!