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The Internet Can’t Replace Your Agent
Don’t fall for the trap of buying and selling SYSTEMS, a local professional is always the better way!
We live in the information age; the Internet offers advice on every topic and real estate is no exception. With more and more home buyers starting their home search online, they are bombarded with advice and information – it can be easy to think that you can learn everything you need to know just by reading articles online.
The truth is your real estate agent does much more than answer your questions and open doors with a special key. A professional real estate agent will be there every step of the way. They have the experience necessary to navigate the complicated home buying process and solve common hiccups that present themselves in every real estate transactions.
Your real estate agent is a local professional. They will start by presenting themselves to the buyer’s agent as someone who will work with them to see the transaction through to a successful conclusion. They have a network of professionals who will work as a team to help you through the process. These include such professionals as: lenders, title reps, escrow officers, transaction coordinators, home inspectors, contractors and handymen, among others.
Most importantly, your agent is your ally in the home buying process. They negotiate on your behalf – armed with experience and understanding of customary charges, costs and terms. They will ensure that the price you pay for the home is fair for the condition and neighborhood. They will negotiate repairs, if needed and make sure you are protected with the proper contingencies. The Internet offers lots of great information, but the most important step you can take when buying a new home, is hiring a local professional real estate agent. Their knowledge and expertise can’t be found by reading an article or two online.
I have been in the business since 2006 and I enjoy what I do! I love to educate you during this process so you UNDERSTAND the process and can be wise with your money.
Start your Los Angeles Area home search now! www.KeyCaliforniaHomes.com
How to Claim Your Energy Tax Credits
How to Claim Your Energy Tax Credits
By: Donna Fuscaldo
Published: January 30, 2014
Energy tax credits on select improvements available through the end of tax year 2013.
Limits on IRS energy tax credits besides $500 max
- Credit only extends to 10% of the cost (not the 30% of yesteryear), so you have to spend $5,000 to get $500.
- $500 is a lifetime limit. If you pocketed $500 or more in past years combined, you’re not entitled to any more money for energy-efficient improvements in the above categories. But if you took $300 back then, for example, you can get up to $200 now.
- With some systems, your cap is even lower than $500.
- $500 is the max for all qualified improvements combined.
Certain systems capped below $500
No matter how much you spend on some approved items, you’ll never get the $500 credit -- though you could combine some of these:
System
Cap
New windows
$200 max (and no, not per window—overall)
Advanced main air-circulating fan
$50 max
Qualified natural gas, propane, or oil furnace or hot water boiler
$150 max
Approved electric and geothermal heat pumps; central air-conditioning systems; and natural gas, propane, or oil water heaters
$300 max
And not all products are created equal in the feds' eyes. Improvements have to meet IRS energy-efficiency standards to qualify for the tax credit. In the case of boilers and furnaces, they have to meet the 95 AFUE standard. EnergyStar.gov has the details.
Tax credits cover installation — sometimes
Rule of thumb: If installation is either particularly difficult or critical to safe functioning, the credit will cover labor. Otherwise, not. (Yes, you’d have to be pretty handy to install your own windows and roof, but the feds put these squarely in the “not covered” category.)
Installation covered for:
- Biomass stoves
- HVAC
Installation not covered for:
- Insulation
- Roofs
- Windows, doors, and skylights
How to claim the energy tax credit
- Determine if the system you installed is eligible for the credits. Go to Energy Star's websitefor detailed descriptions of what’s covered; then talk to your vendor.
- Save system receipts and manufacturer certifications. You’ll need them if the IRS asks for proof.
- File IRS Form 5695 with the rest of your tax forms.
This article provides general information about tax laws and consequences, but isn’t intended to be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice, and remember that tax laws may vary by jurisdiction.
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Laura Key, CalBRELic #0198085
310.866.8422