Jefferson County homeowners have an endless supply of renewable energy stored six feet under the ground of their backyards.  With a geothermal system, this resource of hot and cold air enables homeowners to save energy all year round.  Hoffmann Brothers, a geothermal contractor, explains the energy savings behind the geothermal heat pump (GHP).

 Geothermal heating and cooling systems compliment any property planning to reduce energy dependence over the next 40 years. Because geothermal heat pumps (GHP) save as much as 70% in annual energy costs, the systems pay for themselves within five to seven years.  In observance of National Financial Awareness Month, Hoffmann Brothers, a St. Louis geothermal contractor, reviews the top financing programs, incentives and terms related to investing in a new geothermal heating and cooling system.

If you’re thinking about investing in a geothermal heating and cooling system for your St. Louis home, you most likely know that it will save your home significant energy expenditures. You probably are aware that you can earn a 30% tax credit when you buy an EnergyStar certified geothermal heat pump by 2016. What many St. Louis homeowners are frequently uncertain about is what factors to consider in when shopping for a geothermal heat pump.

Even though it’s not too late for St. Louis residential property owners to file tax credits with their 2012 filing, numerous misgivings continue to flummox homeowners.  Geothermal contractor, serving the communities of St. Louis dispels the misconceptions, pertaining to claiming energy tax credits and pending legislation.

Hoffmann Brothers, a St. Louis geothermal contractor reminds residential property-owners, “Don’t forget to file any energy efficient home improvements in your 2012 tax filing.  Your tax accountant should know which documents are needed to qualify for the US. Energy Tax Credit.”

Earlier this month, on March 4, the Internal Revenue Service (IRS) released a media release, announcing tax filings acceptance of individual and business tax credits from 2012 for the installation of ENERGYSTAR qualified high efficiency residential hot water heaters, air conditioning and heating units.

Prior to the March announcement, the IRS postponed the window for filing taxpayers to file for any energy efficient upgrades, as it restructured modifications made to the 2012 American Taxpayer Relief Act, passed by Congress.

Schedule a complimentary energy audit with St. Louis geothermal contractor @ http://www.stlouisgeothermal.com/contact-us/request-a-residental-energy-audit.html.

What this means for St. Louis County taxpayers—is that the American Taxpayer Relief Act that expired at the yearend of 2011, was retroactively reinstated.  In other words, St. Louis County residential property owners can apply the tax credit to Section 25C on their household 2012 tax filing.

Saint Louis County taxpayers have to complete and file IRS Tax Form 5695 with their income tax return. In addition to filing form 5695, residents must submit proof of the purchase with a copy of the Manufacturer’s Certification Statement.

Even though most tax accountants can apply these energy tax credits with a tax filing, taxpayers should familiarize themselves with the rudimentary information to verify that their home’s HVAC and hot water heating system qualify for the tax credit. (Many of the certificates are available in the AHRI directory).

From now through December 2016, geothermal heat pumps are eligible for a 30 percent tax credit. Please contact Hoffmann Brothers contractors to find out if your home qualifies for other high efficiency HVAC equipment.

In St. Louis City, tax season is upon us. Among energy tax credits, the geothermal heating and cooling upgrade is the only home improvement that accompanies a wealth of benefits. As St. Louis City residential property owners consider renovations for this year, geothermal systems should be included among the project list. Refer to these questions and answers about the energy tax credit in St. Louis City.