Replacing a garage door in 2010 won’t just add style and curb appeal to your home – it can also save you money off the bottom line (up to $1500) of your income taxes.
The stimulus legislation signed by President Obama on Feb, 17, 2009 provides tax credits for energy-efficient home improvements, including qualifying insulated garage doors. That means that adding a new garage door in 2009 or 2010 can save you money by helping to lower home energy consumption and costs, AND it will help pay for itself this year through the tax credit incentive.
The Time to Buy is Now
Homeowners now have another significant reason to buy qualifying insulated residential garage doors – a tax credit. Tax credits are more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only decreases the amount of income that is taxed.
How to Identify an Eligible Garage Door
To be eligible for the tax credit, the purchased garage door must meet all of the following criteria:
- The tax credits are available for garage door purchases “placed in service” from Jan. 1, 2009, through Dec. 31, 2010.
- Your tax credit is based on the total material cost of the purchase (the cost of installation does not qualify). The tax credit is equal to the sum of 30 percent of all qualified energy-saving improvements installed in an existing home in the calendar years of 2009 and 2010.
- The maximum amount a taxpayer may claim is $1500 over the lifetime of the tax credit.
- The door must have a U-factor (rate of heat loss) equal to or less than 0.30. Ask your professional dealer/installer if your door qualifies. You will need a manufacturer’s certification statement and a breakdown of the material and labor costs.
- The door must be an insulated residential garage door.
- It must be installed on an insulated garage. The envelope of the space must be insulated including walls and ceiling space.
- The door perimeter must have a means to control air infiltration (hot/cold mechanical ventilation).
- The door must be expected to remain in service for at least five years.
- The garage must be part of the taxpayer’s principal U.S. residence.
Insulated garage doors can make a noticeable difference in the temperature of your home. If your home has an attached garage, chances are the room next to your garage is one of the coldest rooms in the winter. Cold air in the winter (and warm air in the summer) can sneak in through the garage and into your home, increasing the amount of energy your home needs for heating and air conditioning. In addition to saving homeowners money and energy, new garage doors can be a stylish way to improve a home’s appearance and value.
For more online information on the garage door tax credit, check out:
American Recovery and Reinvestment Act of 2009 – http://frwebgate.access.gpo.gov
Energy Star’s Comments about the Tax Credit & Garage Doors – http://www.energystar.gov
First United Door Technologies Home Page – http://www.firstudt.com
There are various types of GARAGE DOORS to choose from. The type you choose will all depend on a variety of factors: ease of use, security, cost, durability and aesthetics. An overhead door is one of the more popular choices for both home and commercial garages. It consists of a door that is opened by pulling up from the bottom, and remains over the top of the vehicle when open. Overhead garage doors are space-efficient, making them a good choice for garages with limited space. They come in an assortment of designs and materials. Steel overhead doors are a maintenance free option and heavy duty.
Overhead garage doors are a popular style because of its advantages. It takes up very little room, which makes it appropriate for smaller spaces. The roller type door runs on a streamline track, which does not take up much room. However, an overhead garage door requires enough headspace to accommodate the rolled up door. So be sure you have adequate space over the doorway of your garage if you are considering this particular type of garage door. Also, your overhead garage door should be high enough to clear your vehicle when parking in the garage. If you are planning to install an automatic garage door opener, you will also need to factor in the space that it will take up. Measure your garage space first before investing in an overhead garage door.
With overhead garage doors, you also have the option of insulation or non-insulation. If you live in a place with mild climate, a non-insulated overhead garage door can help you save up. Meanwhile, in hotter or colder climates, protecting your overhead garage door is recommended especially if your garage connects to your living space. Insulating your garage door is a good investment because it will not only make your garage more convenient; it will also make your vehicle guarded from extreme changes in temperature. More importantly, it will keep cold air from entering your room. An insulated overhead garage door may cost more but the benefits will certainly be worth the price.
When it comes to security, you should treat an overhead garage door as an access door that may be most accessible to burglars. Make sure that your overhead garage door is of solid construction with a strong frame that is in good condition. More importantly, make sure that you invest in a good lock for the door. Your garage door should be as safe as all the other external doors in your home for obvious reasons.
To assure full protection for your overhead garage door, you can opt to invest in the latest generation of garage door openers that use rolling code technology burglars will find very difficult to hack. Maintain your garage door’s protection by regularly checking the condition of the door and frame for signs of root and corrosion. Remember that your garage door is only as secure and strong as its weakest point.