CBIA Business Builder May 2010 : Page 1
Business Collier Building Industry Association Monthly News Tax Benefits Increased on Energy-Efficient Home Improvements Home owners looking to save money on heating and cooling costs with energy- efficient improvements to their home can also benefit from a newly expanded federal tax credit. In the stimulus legislation signed in February 2009 by President Obama, previous energy-efficiency credits were not only renewed, but were significantly improved. Before, home owners were able to recoup 10 percent of the cost of each approved energy upgrade with the lifetime cap of $500. The new credit has tripled those amounts to 30 percent and $1,500, respectively. According to Energy Star, a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy, a typical household spends about $2,000 a year on energy bills. By incorporating In This Issue... From The Executive Officer 2 From The President Mark Your Calendar Around Town From The County State & National News Event Gallery 2 3 4-5 6 7 8-11 Members On The Move 12 Remodelers Council 13 CBIA Member Updates 14-15 Golden Shovel Classifieds 15 16 Energy Star appliances and other energy- efficient components to your home, a home owner can save about a third on his or her energy bill. The expanded tax credit money available to home owners on top of these savings is icing on the cake! “This is an excellent time for home owners to take advantage of these tax benefits to make positive changes in their home that will not only benefit them immediately, but over the long term as well,” said Eric Borsting, a California home builder and chair of the National Association of Home Builders (NAHB) green building subcommittee. What is included? Tax credits are available at 30 percent of the cost, up to $1,500, until Dec. 31, 2010 (for existing homes only) for: • Windows and doors • Insulation • Roofs (metal and asphalt) • HVAC (heating, ventilating and air-conditioning) • Water heaters (non-solar) • Biomass stoves Tax credits are available at 30 percent of the cost, with no upper limit through 2016 (for existing homes & new construction) for: • Geothermal heat pumps • Solar panels • Solar water heaters • Small wind energy systems • Fuel cells Details on qualifying improvements are available on the Energy Star Web site at www.energystar.gov/taxcredits. How to Claim the Credits: Home owners can claim the 25C and 25D credits on IRS Form 5695 when they prepare their income tax returns. Be sure to retain records that include: Please See TAx BENEFITS, Page 3 Vol. 26 Issue 5 MAy 2010 Serving the Collier County Building & development Community www.cbia.net Get Ready for Nationa Membership Da May 25 will be an incredibly important day for NAHB and our local association as we work together to build our membership strength, one new or retained member at a time. CBIA’s theme for this year’s membership drive is Amazing Race - “Membership drive to destiny”. Throughout the month of May from the 1st - 31st, each new member you recruit are double spike points for you. We are also participating in a membership cruise with details below: How it Works: • 25 Teams of 2 (choose your team wisely) • Recruit 3 ea. NEW CBIA members for a team total of 6 during drive; earn double spike points, to cruise on Destiny Oct 28, 2010 4 nights (interior stateroom, double occupancy). • World map posted at CBIA for tracking, 6 race stops around the world to final stop; Miami, Florida. • New membership fees during drive are discounted: $490.00. • Team mates can either cruise together for double occupancy or bring a guest at a discounted rate. Upgraded state rooms available at discounted rates, limited amount and while supplies last. • Passports are needed. • Teams that don’t meet the requirement will receive $50.00 toward cruising and other prizes; everybody wins! Celebrate the conclusion of the drive at the CBIA CEMEX BBQ on May 21.
Tax Benefits Increased On Energy-Efficient Home Improvements
Home owners looking to save money on heating and cooling costs with energyefficient improvements to their home can also benefit from a newly expanded federal tax credit.
In the stimulus legislation signed in February 2009 by President Obama, previous energy-efficiency credits were not only renewed, but were significantly improved.
Before, home owners were able to recoup 10 percent of the cost of each approved energy upgrade with the lifetime cap of $500. The new credit has tripled those amounts to 30 percent and $1,500, respectively.
According to Energy Star, a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy, a typical household spends about $2,000 a year on energy bills. By incorporating Energy Star appliances and other energyefficient components to your home, a home owner can save about a third on his or her energy bill. The expanded tax credit money available to home owners on top of these savings is icing on the cake!
“This is an excellent time for home owners to take advantage of these tax benefits to make positive changes in their home that will not only benefit them immediately, but over the long term as well,” said Eric Borsting, a California home builder and chair of the National Association of Home Builders (NAHB) green building subcommittee.
What is included?
Tax credits are available at 30 percent of the cost, up to $1,500, until Dec. 31, 2010 (for existing homes only) for:
• Windows and doors
• Insulation
• Roofs (metal and asphalt)
• HVAC (heating, ventilating and air-conditioning)
• Water heaters (non-solar)
• Biomass stoves Tax credits are available at 30 percent of the cost, with no upper limit through 2016 (for existing homes & new construction) for:
• Geothermal heat pumps
• Solar panels
• Solar water heaters
• Small wind energy systems
• Fuel cells Details on qualifying improvements are available on the Energy Star Web site at www.energystar.gov/taxcredits. How to Claim the Credits: Home owners can claim the 25C and 25D credits on IRS Form 5695 when they prepare their income tax returns. Be sure to retain records that include: Name and address of the manufacturer
• Identification of the component including make and model
• Climate zones for which the criteria are satisfied
• Additional information for storm windows, if applicable
• Manufacturer’s certification - a signed statement from the manufacturer certifying that the product or component qualifies for the tax credit For more information on the energy efficient tax credit visit NAHB.org
Get Ready For National Membership Day
May 25 will be an incredibly important day for NAHB and our local association as we work together to build our membership strength, one new or retained member at a time.
CBIA’s theme for this year’s membership drive is Amazing Race - “Membership drive to destiny”. Throughout the month of May from the 1st - 31st, each new member you recruit are double spike points for you. We are also participating in a membership cruise with details below: How it Works:
• 25 Teams of 2 (choose your team wisely)
• Recruit 3 ea. NEW CBIA members for a team total of 6 during drive; earn double spike points, to cruise on Destiny Oct 28, 2010 4 nights (interior stateroom, double occupancy).
• World map posted at CBIA for tracking, 6 race stops around the world to final stop; Miami, Florida.
• New membership fees during drive are discounted: $490.00.
• Team mates can either cruise together for double occupancy or bring a guest at a discounted rate. Upgraded state rooms available at discounted rates, limited amount and while supplies last.
• Passports are needed.
• Teams that don’t meet the requirement will receive $50.00 toward cruising and other prizes; everybody wins!
Celebrate the conclusion of the drive at the CBIA CEMEX BBQ on May 21.
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