Perhaps the most common questions we get are about tax credits for replacement windows. As we get towards the end of 2014 the big question on everyones mind is whether there will be a tax credit for replacement windows in 2015. The answer right now is probably not, but it’s nothing to worry about.
We know that’s not a very good answer, but it’s our government at work. The latest update is that after the Democrats lost badly in the mid-term elections in 2014 they quickly moved to pass legislation before they lose control of the senate. The initiatives they’re currently focusing on are tax credits related to ideas they support. Energy efficient windows and doors are certainly something the Democrats can get behind.
Will the legislation pass before the Republicans take control of the senate in 2015?
Nobody knows. What we do know is that last time tax credit legislation passed it was retroactive as long as folks purchased windows that met the current Energy Star guidelines. Our best advice is to make sure the new windows you’re considering for your home meet the more stringent 2015 Energy Star guidelines.
This newer generation of windows is more efficient than the older 2014 models and they’ll save you money in the long run. They will also likely be included in any new tax credit legislation.
If there is a 2015 replacement window tax credit our best guess is that it will be retroactive to 2014 purchases and frankly by mid-November most windows purchased now will be installed in 2015 anyway.
We encourage you to go ahead with your window purchase and to make sure you’ll be getting windows that will qualify just in case there is a tax credit next year. Any reputable company should be abel to tell you which windows will qualify and we have a post on the subject right here.
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