I thought I would share some relatively unknown info that
was part of the big energy bill that congress passed this year. There are
provisions for tax credits for us little guys. Some you will see tied to
purchase of alternative fuel cars. Also, there is a life time $500 tax
credit (not deduction) for CY 2006 and 2007 only for qualified things you buy
to reduce energy costs at home. This can be solar hot water or a new
style on-demand type system and the like. I have two hot water heaters
that are 16 now and am beginning to research replacements that would qualify
for this tax credit. I would imagine the IRS will be publishing info on
what else they consider as qualified but do not expect insulation and the like
to be on the list.
Tom Taylor
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