2011 Tax Credit for Window Film
A provision in the recent Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 has created a tax credit opportunity for window films installed in residential structures. Under the new policy, the qualifying credit is 10% of the film cost with a maximum total credit of $500. The new policy went into effect January 1, 2011 and expires December 31st of 2011.
Please review the LLumar Window Film, Vista Window Film and Gila Window Film Qualifying Products Certification Statements that outline which films, when installed with different window/frame types, qualify for climate zones defined by the 2009 International Energy Conservation Code. These new standards went into effect February 17, 2009.
Money in Your Pocket
A tax credit directly reduces your income tax, unlike a deduction, which reduces the amount of income subject to tax. The credit then directly increases the tax refund you receive or decreases the amount you have to pay. Homeowners can receive a 10% credit on the costs of window film, up to $500. Installation charges do not apply.
Making it Simple
Complete IRS form 5695 and file 2010 Income Tax Returns by April 15, 2012. Forms are downloadable at www.energystar.gov, along with a list of other available energy efficiency tax credits. Maintain copies of the dealer invoice and the manufacturer’s certification statement for your records.
Nothing herein, including any content set forth in any documents or websites made accessible hereon, shall be deemed to constitute tax advice. Solutia Performance Films is not a tax advisor. Please consult your tax advisor regarding your eligibility with respect to any tax credit.
Two Ways to Save Money
Energy efficiency can lower your federal tax bill and your monthly energy bill. Heat gained through windows makes up to 40% of your summer utility bill. Solar control window film reduces heat gain by 80%, which helps lower energy consumption. One study showed an average summer cooling cost savings of $105.
Other Benefits of Window Film
In addition to money savings, window film can increase indoor comfort, reduce fading of your home furnishings, and protect your family against harmful UV rays. Window film is also energy efficient. According to the Alliance to Save Energy, energy efficiency is the quickest, cheapest, and cleanest way to extend our world’s energy supplies.
To Purchase Film
For professionally installed window film, visit www.LLumar.com or www.Vista-Films.com to find a dealer near you. For do-it-yourself window film, look for the Gila brand at a local home improvement store or visit www.GilaFilms.com.
Other Important Links