Archives for April 2014

How to Claim Your Energy Tax Credits

Home-and-Money.jpgEnergy tax credits on select improvements available through the end of tax year 2013.

If you upgraded one or more of the following systems last year, you may be eligible to take a tax credit — up to $500 — on your return.

  • Biomass stoves
  • Heating, ventilation, air conditioning
  • Insulation
  • Roofs (metal and asphalt)
  • Water heaters (non-solar)
  • Windows, doors, and skylights

The energy tax credits are small, but at least a credit is better than a deduction:

  • Deductions just reduce your taxable income.
  • With a credit, you get a dollar-for-dollar reduction in your tax liability: If you get the $500 credit, you pay $500 less in taxes.

Limits on IRS energy tax credits besides $500 max

  • Credit only extends to 10% of the cost (not the 30% of yesteryear), so you have to spend $5,000 to get $500.
  • $500 is a lifetime limit. If you pocketed $500 or more in past years combined, you’re not entitled to any more money for energy-efficient improvements in the above categories. But if you took $300 back then, for example, you can get up to $200 now.
  • With some systems, your cap is even lower than $500.
  • $500 is the max for all qualified improvements combined.

Certain systems capped below $500

No matter how much you spend on some approved items, you’ll never get the $500 credit — though you could combine some of these:

System Cap
New windows $200 max (and no, not per window—overall)
Advanced main air-circulating fan $50 max
Qualified natural gas, propane, or oil furnace or hot water boiler $150 max
Approved electric and geothermal heat pumps; central air-conditioning systems; and natural gas, propane, or oil water heaters $300 max

And not all products are created equal in the feds’ eyes. Improvements have to meet IRS energy-efficiency standards to qualify for the tax credit. In the case of boilers and furnaces, they have to meet the 95 AFUE standard. EnergyStar.gov has the details.

Tax credits cover installation — sometimes

Rule of thumb: If installation is either particularly difficult or critical to safe functioning, the credit will cover labor. Otherwise, not. (Yes, you’d have to be pretty handy to install your own windows and roof, but the feds put these squarely in the “not covered” category.)

Installation covered for:

  • Biomass stoves
  • HVAC
  • Non-solar water heaters

Installation not covered for:

  • Insulation
  • Roofs
  • Windows, doors, and skylights

How to claim the energy tax credit

  • Determine if the system you installed is eligible for the credits. Go to Energy Star’s website for detailed descriptions of what’s covered; then talk to your vendor.
  • Save system receipts and manufacturer certifications. You’ll need them if the IRS asks for proof.
  • File IRS Form 5695 with the rest of your tax forms.

This article provides general information about tax laws and consequences, but isn’t intended to be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice, and remember that tax laws may vary by jurisdiction.

16 Fairytale Houses

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Have you ever wanted to live in a hobbit house? What about a fairy tale castle or a gingerbread house. Well these 16 cottages below are just about the closest you could ever come to living in a fairy tale home.
In fact they might as well have been taken directly off the pages of a The Brothers Grimm book, they are so true to the magical realms they are created after. fairy_tale_houses_14 fairy_tale_houses_12 fairy_tale_houses_11 fairy_tale_houses_10 fairy_tale_houses_09 fairy_tale_houses_08 fairy_tale_houses_07 fairy_tale_houses_06 fairy_tale_houses_17 fairy_tale_houses_16 fairy_tale_houses_15

Player Values: The best bang for your puck

value-players

An Inside Look At Modern Home Heating Solutions

an-inside-look-at-modern-home-heating-solutions

Music Review: Nathan East

nathan-east-album-coverChances are you have several CDs with Nathan East playing bass on them. Nathan has played with Michael Jackson, Aretha Franklin, Eric Clapton, Stevie Wonder, Bob Dylan, Kenny Loggins, George Harrison, B.B. King, Whitney Houston, Wayne Shorter, Barbra Streisand (yes, THAT Barbara), and even the show I direct, The Edmonton Singing Christmas Tree. If you watched the Grammys, he was featured on Daft Punk’s “Get Lucky,” one of the biggest records of the year and winner of the Grammy for album & record of the year. Here’s the link to the performance.

I was a fan long before I ever met Nathan. Not only is he the premiere bassist in contemporary music, he is an exceptional human. You’ve heard people say, “They are really nice in person”, well, Nathan might be one of the nicest humans I have ever met. Not an ounce of hubris or arrogance. He is brilliant, and can talk about any subject.

His self-titled solo album is a tapestry of musical styles, filled with phenomenal arrangements and performances from incredible musicians, including original compositions by East, such as the Fourplay standard “101 Eastbound,” co-written with his brother, Marcel, and renditions of classics like Stevie Wonder’s “Sir Duke,” which is impossible to listen to without smiling (as big as Nathan smiles!).

“Letter From Home” is a Pat Metheny composition. I can remember in one of my late night talks with him, he told me of his great affection for Metheny. Michael McDonald brings his distinctive vocals to Van Morrison’s “Moondance”. It starts simply with Nathan & Michael, and then a big band drives this classic in a completely different direction, in a word, “brilliant!”

Proving he is in touch with what’s happening in the music scene and keeps himself up-to-date constantly, Sarah Bareilles sings “I Can let Go Now”, a poignant Michael McDonald tune. Then just to make sure you’re paying attention, “Daft Punk” another original, lays down a hybrid of Jazz, Funk & House music.

Fans of Contemporary Jazz will love Chuck Leob’s (Fourplay’s guitarist) “Sevente” as well as Bob James’ (Fourplay’s keyboardist) “Moodswing”. “Madiba”, is another original (co-written with Yamaha’s Chris Gero, who also co-produced the album), with Nathan adding some really hip vocals to a gospel/world music groove.

Eric Clapton shows up on Steve Winwood’s “Can’t Find My Way Home”, an incredibly touching song that makes you stop and assess what is important in life. In case you forgot (didn’t know), Nathan shows off his remarkable voice in a duet with Clapton’s inspired guitar playing. The arrangement is open and airy with room for the melody and music to connect with the listener. Noah East, Nathan’s son, plays a duet with his dad on “Yesterday”. Something so often recorded can become pedestrian. The chord changes and phrasing here, is anything but. I get emotional listening to this interpretation.

Nathan East SCT

Nathan playing with the Edmonton Singing Christmas Tree

Occasionally, I consider learning to play harmonica (never offered at the Conservatoire I attended), but when I hear Stevie Wonder play, I rethink my folly. He is perfect on his version of “Overjoyed”.

The closing anthem is “America the Beautiful”, starting with Nathan, solo on his bass, then a full orchestra accompanies his lyrical playing, when the horns introduce the choir, an enormous sound takes this rendition to Super bowl level performance.

What a joy to listen to this disc, anticipating the next track and each time, finding oneself surprised at the musical turn taken, a breathtaking album worthy of any collection.

Standard Home VS. EnergySmart Home

What makes an energy efficient home more comfortable, more affordable and a better investment compared to a standard home?standard-home-vs-energysmart-home

10 Things to Discuss With Your Contractor Before Work Starts

Screen Shot 2014-03-31 at 7.39.13 AMHave a meeting a week before hammers and shovels fly to make sure everyone’s on the same page

the selections are made, the contract is signed, and you’re ready to start your construction project.

Not so fast! Before work begins, make sure you and your contractor are on the same page about how things will go. This often takes the form of a pre-construction meeting, which may be most useful when held at your home and at least one week ahead of construction — particularly if you have furniture or other belongings to move.

Here are a few of the most important things to cover at this meeting:

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What to Shop for in Cabinet Hardware and Millwork

Screen Shot 2014-03-31 at 7.35.47 AMLearn about finishing touches for kitchen and bath cabinets to pick the options that will work best for you

Once you’ve decided whether your cabinets will be painted or stain-grade, how the boxes and doors will be constructed, and what style of doors they’ll feature, there are still some final decisions that need to be made. The cabinets’ hardware and millwork will help determine how the units look and function — and will also have a big impact on the cost.

 

General contractors, home builders, and more ∨

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