Energy Propety Tax Credit – Dempsey Vantrease & Follis

Barbara Sutton, CPA

Don’t Forget about the Energy Property Credit

 Taxpayers should not forget the Energy Property Credit which is available to taxpayers through the end of 2010.  Taxpayers are allowed a maximum of $1,500 combined credit for tax years 2009 and 2010.  The credit is allowed for certain types of heating and air conditioning systems, water heaters, windows, skylights, doors insulation, roofs and biomass burning stoves.  The property must be purchased and installed by Dec. 31, 2010  Taxpayers will need to have proof that the property qualifies for the tax credit which they can get from the company installing the property or from the point of purchase.  The type of property that will qualify can be found in the IRS website www.irs.gov  ask your tax adviser or give us a call at Dempsey Vantrease & Follis 615-893-6666.

Submitted by:  Barbara Sutton, CPA, MBA