What is this New Tax Credit all about?
The American Recovery and Reinvestment Act of 2009 (Recovery Act) was signed into law on February 17, 2009. The good news for woodstove buyers is that the law includes a 30% consumer tax credit (up to $1,500) for the purchase of 75%-efficient bio-mass burning stoves for the 2009 taxable year and again in 2010! The tax credit can be used towards not only the purchase of a woodstove but also includes the cost of venting, hearthpads, and installation costs.
The new tax credit begins immediately and applies to qualifying bio-mass burning stoves already purchased in 2009. The Internal Revenue Service (IRS) has issued a full list of efficiency guidelines regarding which products qualify.
The Zephyr Stoves View 2.0 exceeds the 75%-efficiency standard and qualifies for the tax credit.
How can you be assurred this Efficiency Data is Accurate?
Zephyr Stoves View 2.0 efficiency data has been independently generated and/or reviewed by a well-respected industry laboratory – Omni Environmental Labs. This third-party, independent testing laboratory ensures our efficiency data is accurate and credible. We are one of the few leading manufacturers that has gone through this very crucial step to ensure safety and accuracy.
We will provide an efficiency verification certificate during the purchase – certifying that product qualifies for the tax credit. Please download this Certificate of Efficiency, and keep a copy for your records.
Why is this Happening?
The Recovery Act is an unprecedented effort to jumpstart our economy, create or save millions of jobs, and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century. The Recovery Act targets investments towards key areas that will save or create good jobs immediately, while also laying the groundwork for long-term economic growth – including $43 billion to "Revive the renewable energy industry and provide the capital over the next three years to eventually double domestic renewable energy capacity" – which offers a 30% consumer tax credit (up to $1,500) for the purchase of 75%-efficient bio-mass burning stoves (i.e. wood and pellets) and can be used towards the stove, venting, hearthpads and installation costs.
How does the Tax Credit work?
You will claim the credit on your federal income tax form at the end of the year. The credit then increases the tax refund or decreases the amount the taxpayer has to pay, dollar-for-dollar; whereas, tax deductions simply lower your taxable income. Please consult your tax advisor for more information.
Zephyr Stoves View 2.0 is manufactured in Salem, Oregon -your purchase of our American-made product demonstrates your direct support of the Recovery Act to assist our economy and to protect American jobs, so our country can thrive in the 21st century. This is an important consideration to remember when purchasing a bio-mass burning stove.