Regardless of your political perspective, one question many people are asking is, “Since I am paying taxes for all this government stimulus activity, how do I take advantage of the benefits?”  Generally speaking, if you are not behind on your mortgage payments and/or in financial trouble on a personal or business level there isn’t much to take advantage of.  However, the Federal Tax Credits for Energy Efficiency are available to anyone regardless of income.  Usually tax credits are phased out with higher income, but not in this case.  Also, a tax credit offsets your tax liability dollar for dollar, so it is much better than a simple deduction.

These credits go toward things like windows, doors, insulation, etc.  Before making any purchase be sure the product in question qualifies for the credit.  However,  to get the credit, you still have to spend money. Consumers should consider the real value of the energy related products in their individual situation. If replacing windows or an old repair-prone heating and air conditioning system was something that you had already planned to do in a few years, then the available credits may be good reason for you to accelerate your purchase.  You can learn more about the program and the products that qualify here.

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