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Tax Credit Consulting: Home Improvements Hilo HI

The Energy Policy Act allows credits for a variety of environmentally sound items. Fuel efficient vehicles and home appliances are also covered by the law. The reduced fuel costs and lower energy bills already benefit the consumer, but the idea is that they also benefit the entire society by reducing emissions and air pollutions. There are also concerns over energy shortages in the future.

Kevin E. Lewis, EA
(808) 934-0144
908 Kumukoa St.
Hilo, HI
 
H&R Block
(808) 965-2388
15-2945 PAHOA VILLAGE rd
PAHOA, HI

Data Provided by:
Michelle H. Tucker (RFC®), CPAPFS, JD
(808) 791-1444
820 Mililani Street, #401
Honolulu, HI
Company
Tucker Wealth Management, Inc.
Qualifications
Education: BBA, High Honors Accounting, University of Hawaii; Juris Doctor, William S. Richardson School of Law
Years of Experience: 28
Membership
IARFC, FPA, AICPA, Bar
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Mutual Funds, Charitable Planning, Asset Protection

Data Provided by:
Ms. Amber Maureen Puanani Doig (RFC®), CSA, EA
(808) 637-9690
66-250 Kamehameha Hwy., Suite C-209
Haleiwa, HI
Company
Financial Management Solutions, Inc.
Qualifications
Education: BBA
Years of Experience: 30
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Business Coach, Education Plan, Healthcare Accounts, Compensation Plans

Data Provided by:
Makai Business Svc Corp
(808) 579-8111
Po Box 790299
Paia, HI

Data Provided by:
H&R Block
(808) 961-5487
325 E MAKAALA ST
HILO, HI

Data Provided by:
Mr. Calen R. Matsuno (RFC®), RFP
(808) 589-3344
803 Kamehameha Hwy Ste 414
Pearl City, HI
Company
Advantage Group, LLC
Qualifications
Education:
Years of Experience: 27
Membership
IARFC, NAIFA
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection, BuySell, LiabCover, Compensation Plans

Data Provided by:
Conrad Takehara
2051 Young Street #89
Honolulu, HI
Service
Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Fee Only Portfolio Management,Wealth Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Busine

Data Provided by:
Mr. John D. Cornillez (RFC®), CSA, LUTCF, RFP
(808) 884-5388
P.O. Box 1245
Kapaau, HI
Company
The Cornillez Group, LLC
Qualifications
Education: BS
Years of Experience: 22
Membership
IARFC, MDRT, SCSA, NAIFA
Services
Invoice, Estate Planning, Business Planning, Tax Planning, Employee Benefits, Annuities, Life Insurance, Long Term Care Insurance, Medical Insurance, BuySell

Data Provided by:
Accurate Affordable Accounting & Tax Service
(808) 396-6507
377 Keahole St Ste E204
Honolulu, HI
 
Data Provided by:

Tax Credit Consulting: Home Improvements

Home Improvements Tax Credits

A new law passed in 2005 allows tax credits for home improvements that result in a savings in energy usage.

Home Improvements Tax Credits

The Energy Policy Act of 2005 (EPACT) allows tax credits for various items that are environmentally sound and reduce the energy usage in the home. Although certain deductions have existed for home improvements, a tax credit is usually more valuable than a tax deduction. The credit is taken directly from the amount of tax owed while the deduction only reduces the taxable income and so will only be a savings of a certain percentage. The percentage will be determined by the individual tax rate.

The Energy Policy Act allows credits for a variety of environmentally sound items. Fuel efficient vehicles and home appliances are also covered by the law. The reduced fuel costs and lower energy bills already benefit the consumer, but the idea is that they also benefit the entire society by reducing emissions and air pollutions. There are also concerns over energy shortages in the future.

Beginning with the 2006 tax year, taxpayers who install energy efficient improvements to their home such as insulation, windows, or heating and cooling equipment can receive a tax credit up to $500. The program remains in effect through the 2007 tax year as well. Purchases can be itemized directly on the tax form. This law also introduces several tax credits and deductions available to Business owners. These credits and deductions cover fuel efficient vehicles and certain improvements to buildings.

The law also allows a credit of 30% of the expenditures, up to a maximum of $2000, for photovoltaic or solar heating equipment. This heating equipment must provide heating for something other than swimming pools and hot tubs. It is also necessary for either of these Home Improvement Tax Credits under the Energy Policy Act that the improvements are made to the taxpayer's principle place of residence.

Although Tax ...

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