Did You Know You Can Get HVAC Tax Credits in Paradise Valley Arizona?
Everyone likes to save money, right? And if you can save money while updating and improving your home that’s even better. If you’re in the market for an air conditioning system replacement, you’re in luck! There are federal tax credits (25C tax credits) available for energy efficient upgrades to your home and those credit programs were recently extended through the Bipartisan Budget Act of 2018.
The great thing about tax credits (versus deductions) is that the credit amount is applied directly to the amount of tax you owe! Before you count on any tax credit, please check with a tax professional to be sure your equipment qualifies and that you’ve completed IRS form 5695 to submit with your complete tax return.
Here’s a quick look at some of the HVAC types equipment that qualify for an energy tax credit:
- Central Air Conditioning: $300
- Air-source Heat Pumps: $300
- Gas, propane or oil boiler (including installations costs): $150
- Natural gas, propane or oil furnace: $150
For full details and information on equipment specifications, please visit the government’s Energy Star website.
Please note that there is a $500 cap on the credit a single household can receive. However, if you are considering an HVAC system that uses alternative energy (solar or geothermal), you may be eligible for up to 30% tax credit with no cap. And, as a Paradise Valley Arizona resident, you may also qualify for additional Arizona state tax credits.
While you can talk to your tax professional for help claiming your tax credits, who can you call to get reliable advice on your air conditioning system replacement? CentralAir is available 24/7 to answer your questions and save you money. Feel free to contact one of our live AC Care Specialists for support on buying a new AC unit.