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If Done Right Roofing
has installed certain colors and styles of Certainteed
asphalt shingles in 2009* or 2010, or installs them in 2011, you are
eligible for a federal
tax credit. Federal tax law, specifically the
"American Recovery and Reinvestment Act of 2009," was
written to encourage energy savings for 2009 and 2010. The "Tax
Relief, Unemployment Insurance Reauthorization and Job Creation Act,"
passed in December 2010, extends a smaller credit into 2011. Asphalt shingles that reflect a
significant amount of the sun's heat qualify for
the 30 percent tax credit for 2010 and 10 percent for 2011. The
home must be your primary existing residence.
That is 30 percent (or 10 percent) of the cost of the roofing
materials. Labor is not
included. The tax credit
can be up to $1,500 for 2010 or $500 for 2011. The
percentage was reduced from 30 to 10 percent for 2011. There is no
income
limit to be eligible for the credit.
A Tax Credit is a direct
deduction from the amount of taxes you
pay. For example, if your tax liability for 2010 is $10,000 and you are
eligible for the full $1,500 credit, your tax liability would be
reduced to $8,500. In 2011, with a tax liability of $10,000 and the
maximum credit of $500, your tax would be $9,500.
To receive the credit on
your taxes, you need to include IRS
form
5695
with your return (click to download the pdf form for the 2009* tax
year.
The form for 2010 is here
with additional information here.
Use Acrobat or SumatraPDF (link in column to right) to open and print
it after saving it to
your hard disk. The form for 2011 is apparently not available yet.
For your
records, keep the receipts from Done
Right Roofing as well as the Manufacturer's
Certification Statement which can be downloaded from the
Certainteed website. A direct link to download the statement
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in
PDF format is
here.
Use Adobe
Acrobat or
SumatraPDF to open and view it. Information on which roofs qualify is
on the statement and below. In
addition, a link to the CertainTeed website home page is at the bottom
of this page.
Done Right buys roofing materials from CertainTeed, a top quality
brand. Your receipts specify the products used so you can determine
your eligibility and keep them with your tax records.
High
quality asphalt shingles are a cost-effective home improvement that can
lower
the temperature of your roof by up to 50 degrees and reduce your
cooling costs substantially.
Some
products that reduce air leaks are
also eligible for the tax credit, including weather stripping, spray
foam in a can, designed to create air tight seals, and caulk, also
designed
to create air tight seals. Others items affecting your home's
energy efficiency have specific limits.
The
Owens-Corning attic insulation that Done Right Roofing uses also
qualifies for the tax credit. It can reduce heating and cooling costs
by up to 20 percent. Click here
or on the Insulation button on the left to get specifics.
Solar energy systems qualify for a federal tax deduction. In addition, they can reduce or eliminate your power bills. Click here
or on the Solar Energy button on the left to get specifics.
CertainTeed shingles that qualify
for the tax credit include:
Landmark Solaris (all colors), Landmark (Silver Birch, Mist White and
Star White), Star White in the Certainteed CT20, XT25, and XT30 product
lines, Coolstar low-slope roofing, and white granule low-slope
roofing when installed on slopes greater than 2"/12".
*Talk
to your tax preparer about specifics for 2009.
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