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Author Topic: tax credit on biomass?  (Read 6190 times)

Curado

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tax credit on biomass?
« on: February 17, 2015, 08:51:14 AM »
I noticed that there is a $300 tax credit this year for biomass energy that meets the 75% effiecient.  I have a heatmaster MF5000.  does anyone know if that qualifies for this tax credit?  just added it this last year.  Does the gassers qualify?
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mlappin

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Re: tax credit on biomass?
« Reply #1 on: February 17, 2015, 08:54:19 AM »
Quote from: Curado on February 17, 2015, 08:51:14 AM
I noticed that there is a $300 tax credit this year for biomass energy that meets the 75% effiecient.  I have a heatmaster MF5000.  does anyone know if that qualifies for this tax credit?  just added it this last year.  Does the gassers qualify?

Now that's just funny, the EPA is basically trying to kill the outdoor wood boiler industry while the IRS offers a tax credit.
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Jwood

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Re: tax credit on biomass?
« Reply #2 on: February 17, 2015, 09:42:33 AM »
Gassers qualify your MF would not.
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Sloppy_Snood

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Re: tax credit on biomass?
« Reply #3 on: February 17, 2015, 11:15:50 AM »
« Last Edit: February 17, 2015, 11:22:23 AM by Sloppy_Snood »
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Jwood

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Re: tax credit on biomass?
« Reply #4 on: February 17, 2015, 12:30:06 PM »
Maybe I'm wrong? Maybe all boilers qualify? What do you guys think?
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Sloppy_Snood

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Re: tax credit on biomass?
« Reply #5 on: February 17, 2015, 01:22:27 PM »
Quote from: Jwood on February 17, 2015, 12:30:06 PM
Maybe I'm wrong? Maybe all boilers qualify? What do you guys think?

Portage & Main communicated in an e-mail to a friend of mine that Ultimizer BLs should qualify, JWood.

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Jwood

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Re: tax credit on biomass?
« Reply #6 on: February 17, 2015, 01:53:24 PM »
Nice I should try to get some money then :thumbup:
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mlappin

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Re: tax credit on biomass?
« Reply #7 on: February 17, 2015, 02:10:19 PM »
Don't the Taco Delta T pumps qualify as well? As they only use enough to meet the load instead of running wide open all the time.
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Sluggo

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Re: tax credit on biomass?
« Reply #8 on: February 17, 2015, 02:20:22 PM »
I figured out fair market value of the wood I burn and use half of that for a write off as I kinda sorta in a round about way use my shed for work.  A law firm does my taxes and they encouraged me to do it.
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yotehunter66

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Re: tax credit on biomass?
« Reply #9 on: February 17, 2015, 04:35:56 PM »
Quote from: mlappin on February 17, 2015, 08:54:19 AM
Quote from: Curado on February 17, 2015, 08:51:14 AM
I noticed that there is a $300 tax credit this year for biomass energy that meets the 75% effiecient.  I have a heatmaster MF5000.  does anyone know if that qualifies for this tax credit?  just added it this last year.  Does the gassers qualify?

Now that's just funny, the EPA is basically trying to kill the outdoor wood boiler industry while the IRS offers a tax credit.
Morons!
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Ridge

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Re: tax credit on biomass?
« Reply #10 on: February 20, 2015, 03:34:42 AM »
We used this credit in 2011 when installing a pellet stove, looks like you can only use it once between 2001-2014??
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