SAVE ----- OUR WINDOWS ARE NOW 30% LESS ----- SAVE
Why?
The government is offering a 30% tax credit off our windows (up to $1500).
FOR A LIMITED TIME ONLY
NOT ALL COMPANIES QUALIFY ---- OUR WINDOWS DO
Tax Credit FAQ’s
What is the TAX CREDIT?
Can you provide an example of how this will work?
How does a window or door product QUALIFY?
Do CASTLE Windows Qualify? YES- Click here
Do All Castle DOORS Qualify?
Do ALL COMPANIES have windows that qualify? ABSOLUTELY NOT
Why do many other companies NOT qualify?
Do all ENERGY STAR products qualify?
How do I receive the credit?
Why is this measure so important to the government?
What is a Tax Credit?
Is a Tax Credit different from a rebate or a deduction?
Will this credit be added to my refund?
Who does not qualify for the tax credit (and what situations do not qualify)?
What is the TAX CREDIT?
On February 17th 2009, President Obama signed into effect the American Recovery and Reinvestment Act of 2009. Hidden deep in the package is the Residential Energy Property Credit.
This program allows OUR CUSTOMERS to SAVE 30% on the purchase of our windows up to $1500.
Can you provide an example?
If you spend $1000, you would receive a $300 tax credit.
If you spend $5000, you would receive a $1500 tax credit.
If you spend $6000, you would still receive a $1500 tax credit.
How does a window or door product QUALIFY?
The product must have a U-Factor of .30 or better (The lower the number the better the rating). The unit must ALSO have a Solar Heat Gain Coefficient of .30 or better. When you are getting estimates please ask the company to provide you with a sample of their sticker because not all window companies will qualify for this program.
Do CASTLE Windows Qualify?
YES.
All of our WINDOWS qualify for the tax credit. The only window that does not qualify at this time is the specialty “GARDEN” Window. HOPPER windows may or may not qualify.
Do All Castle DOORS Qualify?
MOST of our doors do qualify, but some do not. Please review your door style selections with your representative.
Do ALL COMPANIES have windows that qualify?
ABSOLUTELY NOT.
This is IMPORTANT. Not all windows on the market qualify for this program. Your typical lumberyard window WILL NOT qualify for this program. This makes the tax credit a powerful factor in choosing a window. Please realize that you may actually PAY LESS for a mid-range or possibly a high-end window than a low end window.
Why do many other companies NOT qualify?
Many companies in the industry do not have windows that qualify for this program. Unfortunately for these companies, adapting machinery and window components to comply is a costly and time consuming process. Even if they got the process up and running, there is no guarantee that they would comply before the tax credit deadline has passed. Even if they did, the cost that it would take for these companies to rush the machinery and develop the proper channels would add so much cost to their windows that the additional cost would eat up the savings that the customer would see as a benefit.
Do all ENERGY STAR products qualify?
ABSOULTELY NOT!!
Also, note that even if (our competitor’s) window is Energy Star compliant, it does not mean that it qualifies for the tax credit program. For example, a window with a U-Factor of .32 would qualify for Energy Star; however, it would NOT qualify for the tax credit. Please do not allow our competitors to tell you otherwise.
How do I receive the credit?
1. When filling out your tax return, there will be a space designated for any Energy Conservation Credits. You simply write in the amount of the credit in a space provided in your tax return. It is as easy as that.
2. There are no additional forms required for submission and there is no agency to ‘send a form to.’
3. You should save a copy of the contract and the NFRC stickers that come on the windows. These papers should be saved along with any other papers that you save with your taxes. Also save your receipts and the Manufacturer's Certification Statement for your records.
4. Simply put: When you have a receipt for a business lunch or donation, you don’t ‘send the receipt in’. You simply make the adjustment on your return. You only need the receipts in the event of an audit. The paperwork regarding the tax credit works the same way.
5. The tax credit does not include the amount for installation labor. While Castle does not charge a separate price for installation (installation is included in the price of the product), it is generally figured that installation costs are approximately 10% of the job. Therefore in your tax credit you should first deduct 10% from the purchase price for labor and then figure your tax credit.
- Click here to Download the Official Certificate of Castle Windows -
Why is this measure so important to the government?
The government is very interested in the conservation of energy and freedom from dependence on foreign oil. This concern is so important to the government that they are basically subsidizing your windows by essentially GIVING THE ENERGY PACKAGE AWAY for free. That is, the options essential to a well made window that allow the customer to save on their fuel bills.
What is a Tax Credit?
A tax credit is a direct reduction of the amount of the tax as computed on your tax return. It is not a “deduction” or a “rebate”.
Is a Tax Credit different from a rebate or a deduction?
There is a difference between a tax Credit, Deduction and a Rebate.
1. A tax Rebate means that the government is giving you back some of the taxes you paid. It’s simply a method to put money into the economy without waiting for the year’s tax returns to be filed. A Rebate has nothing to do with a Credit.
2. A Tax Deduction reduces the taxpayer’s taxable income and thus reduces the amount of tax. A Credit does not reduce taxable income, but on the other hand, actually reduces the amount of tax after the tax has been computed. A taxpayer gets the benefit of a credit even if he uses the Standard Deduction and does not itemize.
3. A CREDIT applies when a taxpayer determines his total tax and then reduces the total tax. If the tax would have been $2,300, a $500 credit would reduce that to $1,800 and if there was already $2,000 paid in (withheld or estimates), instead of owing $300, the taxpayer would get back $200. Review the scenarios below for a simplistic example.
Will this credit be added to my refund?
That depends on how much tax money you have already paid in during the year. Let’s suppose that your tax credit is $1500.
1. If you have taxes taken out of your check in the amount of $5000 for the year (for example), and you owe $0 at the end of the year, you would receive $1500 back on your tax return.
2. If you have taxes taken out of your check in the amount of $1000 and you owe $0 at the end of the year, you would receive $1000 back. Please note that the CREDIT cannot exceed the taxes already paid in.
3. If you paid in $5000 for the year (for example), and you are due a refund of $1000, then your refund would jump to $2500.
Who does not qualify for the tax credit (and what situations do not qualify)?
1. If you do not pay taxes, the credit will not apply to you. Please do not feel left out. The rest of us envy you.
2. In order to qualify, the windows must be installed in your primary residence.
3. The credit would not be allowed if you have already used your $1500 maximum credit on another product included in the “Residential Energy Property Credit” category.
Please check with your accountant for any changes to the tax codes and any other limitations of the law.
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