Q: How does the new TAX CREDIT work?
A: Consumers can claim a credit of 10% up to $200.00 of the purchase price of qulaifying windows and sliding glass doors and 10% up to $500.00 for qualifying exterior doors such as entry and french doors. Installtion cost not included.
(See a representative for details).
Q: Does everyone qualify?
A: Not all homeowners may qualify, contact an accountant who can best
advise you.
Q: How long will the TAX CREDIT be available?
A:
As of 12/28/10, no deadline for 2011 has been announced.
Q: What is the difference between a TAX CREDIT and a deduction?
A:
A credit is different than a deduction. A tax deduction will reduce the amount of income subject to tax, A TAX CREDIT reduces the tax itself and may increase the amount of your federal tax refund.
This information was supplied through WDMA (Window & Door Manufacturers Association)
and referenced through the "Tax Relief Act" signed into law on December 17, 2010.