Shopping Tools: U. S. Tax Credit Overview


2012-2013 Tax Credit FAQs

 Frequently Asked Questions

Q: What is a tax credit and how does it work? How is it different from a tax deduction?
A: After making the purchase and installing the unit, you claim the credit on your federal tax return. Tax credits are different from tax deductions and in general, are more valuable. A tax credit reduces your tax liability. Depending on your tax situation, a tax credit can reduce the taxes you pay, or increase your tax refund on your tax return dollar-for-dollar. Tax deductions, such as those for mortgage insurance and charitable giving, lower your taxable income.

Q: When did the tax credit go into effect and how long will it last?
A: The tax credit was reinstated on January 1, 2013, and is valid for qualifying purchases made between January 1, 2012 and December 31, 2013..

Q: Does the 10% tax credit apply toward costs incurred for required installation labor and piping?
A: No.

Q: How do I apply for the tax credit?
A: After purchasing the product, download and print the official "Manufacturer’s Certificate", which certifies that the product qualifies for the tax credit. If you have additional questions, please consult your tax advisor or the Internal Revenue Code.

Q: What are the financial advantages of using a wood or pellet burning appliances for heat in my home?
A: You can significantly reduce your heating bills for years to come by using a Heatilator Constitution fireplace to heat part, or all, of your home. As we’ve experienced in recent years, prices for natural gas, propane and oil can fluctuate greatly, at times spiking at very high levels. With a Heatilator Constitution, you can turn down the thermostat on your central heat and heat the areas where you live the most with wood.

Q: Am I contributing to a greener Earth by heating with biomass?
A: Yes. Wood, pellets and other biomass materials are renewable fuels, derived from trees and plants. Burning biomass is considered carbon-neutral, as only the carbon the plant absorbed when growing is released. Whether the wood burns or decomposes, the same amount of carbon is released, with virtually no green house gas effects. In fact, burning wood in a Heatilator Constitution clean-burning unit eliminates approximately 75-percent of carbon emissions associated with fossil fuel heating. By doing so, you’re not only controlling air pollution, but helping to decrease our country’s dependence on foreign oil.

Q: Are wood burning fireplaces, stoves and inserts efficient?
A: Yes. Technological advancements have made today’s wood stoves, fireplaces and inserts significantly more efficient than dated models. The EPA-certified Heatilator Constitution is highly efficient, producing more heat with less fuel to provide warmth and comfort for many hours. It is one of the cleanest burning wood appliances available today, with low ash and minimal outside air emissions. This is made possible by high temperatures, ample oxygen and sufficient burning of gases before being exhausted. This complete combustion can also eliminate the accumulation of creosote, a flammable chimney residue.

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