Taxes

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Thank you for visiting the Taxes page here on MDW.

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Emergency Economic Stabilization Act of 2008 (aka $700 billion bail-out package for the financial industry)

“Green tax breaks” for individuals are included within the new law

Solar: For the 2008 tax year you can claim a tax credit of up to $2,000 for up to 30% of the cost of a photovoltaic system to generate electricity. Also, you can claim another credit of up to $2,000 for 30% of the cost of a system to heat hot water for showers and radiators.

Wind and geothermal: A new $4,000 credit for up to 30% of the cost of installing a home windmill system to generate electricity. For geothermal systems there's a new $2,000 credit.




Tax images



Articles

IRS Tax Collections from Audits Drop in 2008




Disclosure - we are not licensed tax advisors and cannot guarantee the accuracy and reliability of the information published here. We are not recommending any particular action or tax strategy and will not be held liable for any and all information. Information provided here are subject to change at any time. Please consult your tax advisor and other financial professional for advise and counsel.


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