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Save Money On Your Taxes with Tax Credits for Green Choices

Oftentimes green or eco-friendly products appear to cost more when you arrive at the payment page online, or the cash register at your local home improvement store.  With the political good will towards environmentally friendly and energy saving products and technology, today’s consumer can save money, at least when tax season arrives.

 Before you file, take a good look at your purchases and see where you may qualify for quite a savings.  If not this year, use this guide to assist you in purchases you make in 2010, and save once the season rolls around again.

 How Can You Save On Your Green Tax Credits?

1. If you buy solar – solar heating, solar power or any other solar energy saving appliance for you home there is $2000 in tax cuts available to you.  Learn more about solar water heaters
2. Did you buy a new car?  Happen to buy a hybrid like Mazda Tribute 2X Wheel Drive or the Ford Escape Hybrid?  If so cash in on a few thousand in tax breaks (like 3K) and if you are in the market this year, consider or at least go find out more about the hybrids on the market.  Get a summary of all hybrids and the tax breaks .
3. Get warm and cozy with pellets – in your biomass heating stove that is.  Pellet stoves burn clean, maintaining pure air and leave far less ash than conventional wood burning stoves. Pellets can be made from recycled wood, grasses and straw, and in fact, you can even make your own wood pellets. 
4. Windows and doors replaced with energy efficient materials are tax credit material, up to 10% of costs.  Check out Energy Star for more information. 
5. Don’t forget insulation to help you save the heat you use – there is credits for that too. See Energy Star above.
6. Ride your bike to work, get strong legs, and save money on gas and fuel while you receive tax credits of $20 a month. If the rain and sleet bother you, jump on the bus, there are savings for you if you do.  You can work with your employer and have $320, tax free dollars, of your pay set aside for your commute.  Of course, you will probably look sexier if you ride your bike. (wink)
7. If you purchase a wind turbine, don’t miss out on the 30% tax credit. You may think it’s a bit weird, but before you know it, they will be commonplace here in North America.  Just ask the Europeans!
8. The tax credits are growing in popularity, especially if they are green.  If we are all working to reduce our heating and electrical costs, we are providing “green jobs,” and reducing our own carbon footprint.  Keep checking back here and/or look at some of the links to the right for great resources to keep you up to date.