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                             The American Recovery and Reinvestment Act

Be sure to talk to your tax professional to confirm eligibility and find out more about the tax credit.

Stimulus Package

The Stimulus Package that President Obama signed into law gives tax credits to homeowners that purchase High Efficiency Heating and or Air Conditioning Equipment for their homes.

You can get up to $1,500 tax credit by replacing your heating system or air conditioning system. The credit is based off of the installation cost not just the equipment cost.

You are eligible for 30% of the total installation cost up to the $1,500 limit. Any Qualifying Heater and or Air Conditioning System (See below table for qualifying equipment) of $5,000 or higher would qualify for the full amount.

              Example:          Heater & A/C Installed Price    =           $6,500 (With Qualifying Equipment)

                                          Less Tax Credit                           -        $1,500

                                          Net Cost                                               $5,000 (After Tax Credit Applied To 2009 Tax Return)

If you are thinking about going with a Geothermal System (See below table for qualifying equipment) you can get a tax credit of up to 30% of the installation cost.

That’s right 30% of the total installation cost and there is no dollar limit of the tax credit for Geothermal Systems.

              Example:          Geothermal Installed Price       =           $20,000

                                          Less Tax Credit                           -       $ 6,000

                                          Net Cost                                              $14,000 (After Tax Credit Applied To 2009 Tax Return)

This is a tax credit not a tax deduction, a tax credit goes against your tax liability dollar for dollar.

You can get the credit whether you are replacing just your Heating or Air Conditioning System or both at the same time.

But there is an added bonus, with a Higher Efficiency System you will also save on your monthly utility bills and guess what, not only will you save money each month, but you will also be helping to save the environment, because you will be using less fuel to heat and cool your home.

If you would like to find out how you can qualify for your share of the Stimulus Package

call 1-800-522-4884to set up a Free In Home Evaluation by one of

Oliver’s Comfort Specialist.

Be sure to talk to your tax professional to confirm eligibility and find out more about the tax credit.