Earned Income Tax Credit
Don't miss this tax credit. It provides relief to low-income families.
If you qualify, the Earned Income Tax Credit (EITC) could provide some real financial relief for you and your family. Even if your income is too small to pay taxes, you could still qualify for an EITC refund that puts money in your pocket.
In 2009, a single parent raising three or more children and earning between $12,550 and $16,450 was eligible for to up to $5,657. That's a 35 - 45% increase in the family's income.
Energy Efficiency Improvements
The tax credits that were 30%, up to $1,500, expired on December 31, 2010. New tax credits were passed, but at lower levels. These credits are applicable to many energy-efficiency improvements for your home, like new windows, doors, insulation, and heating, ventilating and air conditioning equipment (HVAC). The credit is offered at 10% of cost up to $500 or a specific amount from $50 - $300.
There are no consumer tax credits for ENERGYSTAR newly constructed homes.
For more detailed information and to find out what qualifies, visit www.energystar.gov.