HOMETOWNFIREPLACES & STOVES

Save energy costs and contribute to a greener Earth by heating all or part of your home with biomass fuels. U.S. homeowners who purchase a 75%-efficient biomass (wood or pellet) burning stove, fireplace or insert and place it into service in their home during 2009 or 2010, can receive a U.S. federal tax credit for 30% of their cost, up to $1,500. 


After making the purchase, simply download and print the official Manufacturer' Certificate, which indicates that the product qualifies for the tax credit. You can rely on the certificate when preparing your tax return. It is not required that you submit the certificate or a product sales receipt to the government when filing your taxes, but the IRS requires that you retain them in your personal tax records

Q:  What is a tax credit and how does it work? How is it different from a tax deduction?
A:  After making the purchase and installing the unit, you claim the credit on your federal tax return. Tax credits are different from tax deductions and in general, are more valuable. A tax credit reduces your tax liability. Depending on your tax situation, a tax credit can reduce the taxes you pay, or increase your tax refund on your tax return dollar-for-dollar. Tax deductions, such as those for mortgage insurance and charitable giving, lower your taxable income.

Q:  When did the tax credit go into effect and how long will it last?
A:  The tax credit went into effect January 1, 2009, and is valid for qualifying purchases during 2009 and 2010. The unit must be placed into service during 2009 or 2010, whichever year you are claiming the credit.

Q:  How do I know if a product qualifies for the credit?
A: you may obtain the information from are store.

Q:  Does the 30% tax credit apply toward costs incurred for required installation labor and piping?
A:  Yes.

Q:  How do I apply for the tax credit?
A:  After purchasing the product, download and print the official Manufacturer's Certificate from our website, which certifies that the product qualifies for the tax credit. You should keep the certificate for your records, but you are not required to include it, or the sales receipt, when submitting your taxes to the IRS. If you have additional questions, please consult your tax advisor or the Internal Revenue Code.