Saturday, July 17, 2010

DON'T LET THIS TAX BREAK GO UP IN SMOKE!

Don’t let up to $1,500 go up in smoke! This December, a Federal Tax credit of up to $1,500 for the purchase of residential biomass heating devices, commonly known as wood and/or pellet stoves and inserts, will fly out the window.

The stoves must be for an existing primary residence and must have an efficiency rating of 75%.

The term 'biomass fuel' means any plant-derived fuel available on a renewable or recurring basis, including agricultural crops and trees, wood and wood waste and residues (including wood pellets), plants (including aquatic plants), grasses, residues, and fibers.

For more information, go to www.irs.gov and search Residential Energy Credits.

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