Regular Guest
New tax credits for 80% variable speed????????
I am having a hard time getting a good answer, if a furnace has a variable speed motor aka "advanced main air circulating fan w/less 2% energy use" , but is only 80% AFUE that had a $50 tax credit in 2007 and came back in 2009 is now 30% of cost up to $1500? The energy star web seems to say yes, but none of the manufactures (Goodman/Amana, Trane) are sure yet. Does anybody know for sure yes or no.
Professional Member
95% gas furnace and above,
Sorry 80% is a no go.
next the truth to the Weatherization Deal,
you want to look, how much you made this year.
and what your taxes paid or received was.
Next
take 1500 dollars off your total submitted IRS salary and see what the difference of taxes paid or received would be.
If you are like me, it doesn't make a difference. If you are lucky you may get a couple bucks back but it won't be 1500 cash back!
It's a Tax Credit. so it just take a sliver off your income earned.
We be fooled! This Stimulus Weatherization package really doesn't add to much for most of us.
Professional Member
Here we go again. Its a tax credit. When doing your taxes you look up how much tax is due based on income less deductions (taxable income). Now you subract credits from that amount of tax due. Make sure tax due is was least 1500. The credit only lowers that tax due amount. You will not get more back if you didnt owe it. And yes I was told today any variable speed furnace will qualify -80 or 95%. Certifcates available on ari web site.
Last edited by jban; 03-05-2009 at 07:58 PM.
The hardest thing is to weed out potential pita customers at first meet. You can save $$ sometimes by not making a sale.
Regular Guest
The thing is if you go to the energy star web site: http://www.energystar.gov/index.cfm?...tax_credits#c3 and look under advanced main air circulating fan it does not say anything about a AFUE rating, this web site has been update in the last 2 days. If 80% do not meet the standard then where is the info on the $50 tax credit gone too?? Is it still $50 or zero then??Originally Posted by ClassicDave
Professional Member
A taxpayer purchasing a replacement gas or oil furnace incorporating an “advanced main air-circulating fan” may claim a tax credit regardless of the furnace’s AFUE rating.
Last edited by jban; 03-05-2009 at 08:01 PM.
The hardest thing is to weed out potential pita customers at first meet. You can save $$ sometimes by not making a sale.
Regular Guest
That was the law, but if you go to the top of the web page http://www.energystar.gov/index.cfm?...tax_credits#c3 and read the changes, the third bullet says "The tax credits that were for a specific dollar amount (ex $300 for a CAC), have been converted to 30% of the cost." and yes advanced main air circulating fan is IRS speak for a variable speed motor. If you go to the Amana web site and find the tax certification it uses the phrase, advanced main air circulating fan for variable speed units. However they have no yet updated this statement, it still says $50. The front line folks that answer the phone are not 100% sure yet. The problem is that the change is so new that until they get the word from the top they just say call back later.
Professional Member
My understanding is that before the "stimulus bill" the 2009 credit was "advanced main air circulating fan was worth $50.00 and a 95% was $150.00. Thats all changed now.
Last edited by jban; 03-05-2009 at 08:00 PM.
The hardest thing is to weed out potential pita customers at first meet. You can save $$ sometimes by not making a sale.
Professional Member
The thing is and someone may answer the question, what is exactly a Advanced Main Air Circulating Fan? To me it is not a variable Speed Fan Motor in a Furnace.
I could be wrong though.
When you look up Natural Gas/Propane furnaces, It says = > 95%
Professional Member
The hardest thing is to weed out potential pita customers at first meet. You can save $$ sometimes by not making a sale.
Regular Guest
I see your link but the problem is that it has not been undated in the last weeks like the energy star web site has.
Professional Member
Another point,
on #3 it says
A Manufacturer’s Certification is a signed statement from the manufacturer certifying that the product or component qualifies for the tax credit.
I have not seen any Certifications on the blower motor qualifying a blower motor for a furnance yet, it has just been the air conditioning and heating systems that have the certificates.
But I'm all ears to find out what is what myself.
Regular Guest
http://209.235.103.219/portals/1/pdf...DV9%20AMV8.pdf None the the unit listed here are above 95% but they did get the $50 credit, however again this web site also has not been undated in the last three weeks
Regular Guest
Yeah, that's right. A tax credit actually lowers the amount of tax you owe at the end of the year by that amount. I think some confuse it with a tax deduction, which deducts an amount from your income, in which case you only really get a portion of it back.
It will be interestin to see what happens with this.
Professional Member*
According to ACCA the fan credit is for a retrofit to an existing furnace only. Maybe these?
http://www.emersonclimate.com/RescueEcotech/
Not sure how to get a certificate proving it though, haven't figured it out yet.
As someone else said, it is a tax credit not a deduction. It will reduce your tax liability by the full amount of the credit.
Professional Member*
The energy star website gives you a link to the GAMA:
http://www.energystar.gov/index.cfm?...tax_credits#c3
http://www.gamanet.org/gama/inforeso...s?OpenDocument
THe GAMA website just liks you to the AHRI database search. Select "Furnaces" and have ar 'er.
You can search the database for the certificates.
However, their database has been down frequently for maintenance. But last week I was abel to get the certificate for my Trane XV80 which shows the energy consumption and denotes that it meet the low energy requirements.
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