Military homeowners must be prepared to weather the costs of home ownership. A VA home loan offers military families an unmatched entry point to home ownership, with low interest rates and no down payment.
Before they were famous, many truly influential men and women started by serving their country in the US military or grew up in military families.

Expanded Recovery Act: Save Energy, Save Money, Save on Federal Taxes

No matter what the season, military homeowners must be prepared to weather the costs of home ownership. A VA home loan offers military families an unmatched entry point to home ownership, with low interest rates and no down payment. Once you are a homeowner, there is opportunity for making home ownership more cost effective and at the same time, more energy efficient.

The expanded Recovery Act Tax Credits allow you to make energy-saving improvements to your home, save on your winter heating bills, plus lower your 2010 tax bill.

The 2009 Recovery Act expanded two home-energy tax credits: the Non-business Energy Property Credit, and the Residential Energy Efficient Property Credit.


The Non-business Energy Property Credit is a maximum tax credit of $1,500 for the combined 2009 and 2010 tax years, equaling 30 percent of spending on eligible energy-saving improvements. By investing $5,000 this year on eligible energy-saving improvements, military homeowners can save as much as $1,500 on 2010 federal income tax returns.

Energy saving improvements include certain high-efficiency heating and air conditioning systems, biomass water heaters and stoves, energy-efficient windows, skylights, roofs, insulation, and doors, and labor costs for installing some of these items.


The Residential Energy Efficient Property Credit is a tax credit for military homeowners interested in going green and saving green, by investing in alternative energy.

The Residential Energy Efficient Property Credit equals 30 percent of spending on eligible home improvements such as solar electric systems, solar hot water heaters, geothermal heat pumps, wind turbines, and fuel cell property. With the exception of fuel cell property, there is no limit to the amount of credit available for military homeowners.


Not all energy-efficient improvements qualify for these tax credits. The IRS advises military homeowners to check the manufacturer's tax credit certification statement, usually found on the manufacturer's website or product packaging.

Eligible homeowners can claim both of these credits by using form 5695 when filing the 2010 federal income tax return. These credits can increase the military taxpayer's refund or reduce the taxes owed.


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