Grand Rapids Heating & Cooling Specialists

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2018 Heating & Cooling Tax Credits

State of Michigan Home Heating Credit Information

The Home Heating Credit is a way the State of Michigan helps you pay some of your heating expenses if you are a qualified Michigan homeowner or renter. You should complete the Home Heating Credit Claim MI-1040CR-7 to see if you qualify for the credit. The deadline for submitting this form is September 30, 2018.
Given that each taxpayer has unique circumstances that determine their eligibility for the credit, the Michigan Department of Treasury encourages you to review the information below and/or contact a tax professional if you have additional questions. 

The credit, for most people, is based on a comparison between either your standard credit allowance or your actual heating costs and total household resources.
The credit is designed to provide assistance to low income, deaf, disabled or blind persons and disabled veterans. Michigan residents who are not in these groups may also qualify for the credit.

For More Information

Visit the official State Of Michigan Home Heating Credit info page here

Federal Income Tax Credits and Other Incentives for Energy Efficiency

Under the Bipartisan Budget Act of 2018 which was signed in February 2018, a number of tax credits for residential energy efficiency that had expired at the end of 2016 were renewed. Tax credits for non-business energy property are now available retroactive to purchases made through December 31, 2017. Tax credits for all residential renewable energy products have been extended through December 31, 2021, and feature a gradual step down in the credit value.

Products eligible for the tax credits that have earned the ENERGY STAR are independently certified to save energy, save money and protect the environment. Use up to 30% less energy in your home by outfitting with ENERGY STAR certified products available across more than 70 categories.

The tax credit for builders of energy efficient homes and tax deductions for energy efficient commercial buildings were also renewed for 2017.

For More Information

Visit the official Federal Energy Star info page here

Steigmeyer Heating & Cooling
8151 Fillmore St.
Allendale, MI 49401

(616) 531-9000

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