Energy tax credits about to expire
Tax credits for energy efficiency home improvements like insulation, replacement windows, and upgraded HVAC systems will end on Dec. 31, and Congress has not yet renewed them for 2012.
This warning from the Alliance to Save Energy gives homeowners less than a month to take advantage of as much as $500 in tax credits on their 2011 federal tax returns.
The specific home improvements that qualify for tax credits fall into a number of categories: Exterior windows; skylights and storm windows; insulation; exterior doors; roofs; storm doors; and products to seal air leaks, such as caulking, weather stripping and foam sealants; highly efficient heating and cooling equipment, including central air conditioners, heat pumps, furnaces, boilers, water heaters and biomass (e.g. corn) stoves.
Each product category also must meet specific energy efficiency requirements, which are spelled out on the Alliance’s tax credits Web page.
Percentage and/or dollar limits on particular energy-efficient upgrades include:
• 10% of the cost of insulation and sealing materials, exterior doors and roofs.
• 10% of the cost, up to $200, of exterior windows or skylights.
• Up to $300 for electric heat pump water heaters, electric heat pumps, central air conditioners, biomass stoves and natural gas, propane or oil water heaters.
• Up to $50 for advanced main air circulating fans.
• Up to $150 for natural gas, propane or oil furnace or hot water boilers.
The Alliance to Save Energy is a coalition of business, government, environmental and consumer leaders who promote the efficient and clean use of energy worldwide to benefit consumers, the environment, the economy and national security.
I hope the government can
I hope the government can continue to support the energy tax credits, and continue to give out tax incentives from 2012 onwards. People need that incentive to carry on their energy saving actions, and I know that a lot of them need that monetary help when it comes to implementing various upgrades to make their homes energy efficient. Christopher - stoett
I believe that the tax
I believe that the tax credits have been helpful for our industry and have benefited both the industry and the consumer. However with the Federal Government on track to financial ruin we have to stop with the Government's involvement. If our industry is to grow it has to be by demand and the ability for consumers to pay. The Federal Government simply does not have the money to support these credits. On the industry side of this equation it is imperative that it stand on it's own to build a sound economic future versus creating a false economy with Government funding! If we in the industry continue to rely on Government Funded Programs the industry will never rebound to a sound economic status.
Hillman acquires maker of picture hangers
The Hillman Companies has announced the purchase of certain assets of Micasa Trading Corp., a Miami-based based producer of the OOK brand of picture hangers and related products. Annual revenues of Micasa for 2010 exceeded $15 million.
Established in 1964 by David Weck, Micasa serves home centers and hardware retailers, as well as art galleries and the professional market.
Based in Cincinnati, Hillman sells to hardware stores, home centers, pet suppliers, mass merchants and other retail outlets principally in the United States, Canada, Mexico, Australia and South America. Hillman’s product line includes fasteners and related hardware items, keys, key duplication systems, and identification items such as tags, letters, numbers and signs.
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RILA concerned over possible railroad shutdown
The Retail Industry Leaders Association (RILA) is calling on the U.S. Congress to step in to avert a work stoppage that would disrupt retail supply chains during the holiday shopping season and well into 2012. A breakdown in negotiations between the National Railway Labor Conference and railroad negotiators could lead to a nationwide shutdown on Dec. 6, according to a press release issued by the Arlington, Va., trade group.
One option, according to RILA, is for Congress to impose the terms recommended by the Obama Administration’s Presidential Emergency Board on both rail management and labor. Estimates suggest that a national railroad work stoppage would cost the U.S. economy $2 billion per day.
“A national railroad shutdown would force retailers to shift the delivery of their goods to trucks, increasing costs, time of delivery and congestion on our nations already crowded roadways,” said RILA president Sandy Kennedy. “We urge Congress to exercise its power to step in to keep the flow of goods moving and avert an avoidable economic catastrophe.”
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