Free Money For Energy Upgrades

The Federal government has a number of energy related rebates (mostly in the form of tax credits) that expire at the end of 2010. Likewise, many states has plans that are expiring soon.  Massachusetts had a special tax credit for energy efficient appliances, which unfortunately has expired.

Some eligible items for a federal tax credit include insulation, windows and doors, roofs, heating, ventilating and air conditioning systems, water heaters and biomass stoves. Additionally, a tax credit is also available for some more advanced energy improvements, including solar panels and wind turbines.

There are lots of 'details, so start by reading the article on the Wall Street Journal's MarketWatch website.,, Here. One of the details is that the home must be your primary residence, not a rental home.

Little-Known Tax Breaks for Your 2009 Return

It's getting closer to the dreaded April 15th income tax deadline. But, it's not too late to sort out how you may benefit from a few little known tax breaks for your 2009 tax return. Check out this timely article from SmartMoney.com.

Homebuyer's Tax Credit: Updated & Extended

It's now the law. Congress, and President Obama, have created and signed into law an extension of the first time home buyers tax credit of $8,000. Additionally, the law has provided for existing homeowners to also collect a tax credit of up to $6,500. There are lots of details, income limits, and 'requirements'. Read all about the new laws in CNBC's Investment Guide Special Report.

Unfortunately, neither the first time or the existing homeowner tax credits allow for coverage of investment or second home purchases, leaving the Outer Cape real estate market out. Bummer!

Geothermal Heating & Cooling - Another Solution

The constant temperature and 'infinite' heat of subsurface earth makes geothermal heat pump technology an ideal solution for heating and cooling your Cape home. It's a technology that has had only a few 'takers', but I believe that we'll see more and more homes equipped with geothermal heat pumps. The claimis possible savings of up to 80%. Additionally, there is, currently, a 30% federal tax credit for these systems. ClimateMaster, one of several geothermal heat pump manufacturers, has a fairly educational website with technology tutorials and tax credit information.