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Tax Credit

As the leaves fall, it’s a reminder the end of the year is quickly approaching. Fortunately, there’s still plenty of time to make smart financ…

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The third time’s the charm, as the saying goes. President Joe Biden made good on his campaign promises and signed the third stimulus bill, styled the American Rescue Plan, into law today. The new stimulus package comes with a few caveats. While it features the same income eligibility cutoffs for full stimulus checks as the […]

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Tax season starts Friday. If you worked from home, received a relief payment, took on some gig work or filed for unemployment, these are things you need to know before you file.

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The federal government offers a tax credit of up to $300 for Energy Star-rated air-source heat pumps, but it expires on Dec. 31, 2020. Qualifying geothermal heat pumps are eligible for a 26% tax credit if they're installed before Jan. 1, 2021. The tax credit declines to 22% for systems that come online between Dec. 31, 2020, and Jan. 1, 2022. Some states also offer incentives for air-source heat pumps, such as a rebate of as much as $1,500 in Maine, 0% financing and rebates in Massachusetts, and a $1,000 rebate in New York.

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