With Record-High Heating And Fuel Costs, Insulation Is A Simple Way For Americans To Conserve Energy And Save Money
by: Robin Bectel
This winter, Americans are opening their home heating bills to find up to 35% increases in their energy costs over last year according to the Energy Information Administration.
Fortunately, there are steps homeowners can implement that will immediately reduce their monthly costs and improve their comfort. Some of these steps may also help you qualify for a Federal tax credit of up to $500.
There are simple things that each of us can do at little or no cost that will help control energy use. One of the most effective things you can do to save energy and manage your energy costs is to add the right amount of insulation to your attic. Basements and crawlspaces are other good places to check since they are easy to access and likely to be under-insulated. When coupled with caulking and sealing around windows and doors, this can save up to 20% on heating and cooling costs according to the Environmental Protection Agency. You can also turn down the thermostat when you are not home, install a programmable thermostat and replace regular incandescent light bulbs with energy-efficient bulbs.
As a bonus, the recently passed Energy Policy Act of 2005 includes a tax credit of up to $500 for increasing insulation in homes. This incentive went into effect for improvements made in 2006 and 2007. The credit is for 10% of qualified home improvements like insulation for a total of $500 over the two tax years. Other measures you can take that will help earn you the tax credit include updating your windows and installing energy efficient heating and cooling equipment. The IRS is currently working on the final rules for this credit, but updated information is available at www.SimplyInsulate.com. This site also provides useful tips on determining how much insulation you have and how much you need, as well as advice on doing the job yourself or hiring a contractor.
The appropriate amount of insulation in a home varies depending upon where you live. The majority of American homes should have R-49 insulation in the attic for optimum savings and comfort. For most of us, this will mean adding between an R-19 and R-30 insulation to what you already have. Keep in mind, the higher the R-value, the greater the insulating power.
Good resources for adding insulation and increasing the energy efficiency of homes include:
www.eere.energy.gov/consumer/tips/insulation_sealing.html
www.energystar.gov/homesealing
With winter and high energy costs upon us, it is more important than ever for homeowners to take these few steps to reduce their monthly costs and save energy. The Harvard University School of Public Health estimates that there are more than 46 million under-insulated homes in the US, about 65% of all homes. Chances are good, you are one of them. Adding insulation, caulking around windows and doors, and using Energy Star products will continue to provide benefits to your wallet and your family?s comfort for years to come.
About The Author
Robin Bectel is a communications professional with 15 years of experience in building materials, energy efficiency and high technology. She is currently director of communications for the North American Insulation Manufacturers Association.
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A Financial ?To Do? List for Engaged Couples
A Financial ?To Do? List for Engaged Couples
by: Nathan Dawson
Engagement can be a hectic and overwhelming time for all parties involved. However, by setting a wedding budget and by creating a long-term money-management plan, you can ensure that you will start off on the right foot. Follow these steps for a good marriage preparation:
1. Prepare to merge finances
Discuss your spending and saving habits, your debts and assets and your respective salaries. Be sure that you have a realistic idea of how marriage will affect you both as a couple and as individuals.
2. Plan your wedding
Make a realistic assessment of how much you can spend. While the average wedding cost is $15,000, with careful planning you may be able to go lower than that and create memories that will last forever.
3. Decide on whether to have a prenuptial agreement
Prenuptial agreements aren?t always necessary. However, if there is a considerable difference...
A Financial ?To Do? List for Engaged Couples
Tax help > A Financial ?To Do? List for Engaged Couples
Know How To Take Your Lumps
Know How To Take Your Lumps
by: Ken Morris
If you are about to retire or change jobs, or if your employer is terminating the company retirement plan, you may be eligible to receive a "lump sum distribution" as defined in the Internal Revenue Code.
Such a distribution may be substantial and may represent the cornerstone of your retirement security.
So it is important to consider your options carefully before making a decision regarding distributions.
Basically, you are faced with two main options.
Should you take a direct distribution and pay your taxes now?
Or should you roll your distribution over into a traditional Individual Retirement Account (IRA)?
If you decide not to roll the distribution over into a traditional IRA, you must pay tax on the distribution in the year you receive it. You will, of course, be able to invest the remainder as you please.
The main benefit of paying taxes on your...
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Real Estate Investor Question: Rehab and Sell, or Rehab and Keep?
Real Estate Investor Question: Rehab and Sell, or Rehab and Keep?
by: Bruce W. Ford
Here's another awesome question I received from my discussion board. The question; Why bother keeping property after it's rehabbed? Why not sell it after the rehab and GET PAID!
Of course, the first questions that you must answer is how emergent is your need for quick cash? You can likely generate the most SHORT TERM cash by selling a freshly rehabbed house. But, you will give much of it away in taxes come next April.
If you keep it, you stand to make more! You will also enjoy some great benefits while you own it such as cash flow, a tax break, and MORE cash with the future appreciation. You can still pull some nice cash a few months after buying it when you refinance (post rehab) the property from your hard money (at 70% loan to value) to long term financing (at 85% or 90% loan to value).
The short answer is an investor is going to make considerably...
Real Estate Investor Question: Rehab and Sell, or Rehab and Keep?
Tax help > Real Estate Investor Question: Rehab and Sell, or Rehab and Keep?
Collecting The Levy
Collecting The Levy
by: Henry Byers
The Financial Management Service (FMS) is a bureau of the Department of the Treasury, to provide a centralized debt collection service to most federal agencies. The FMS has begun utilizing two Congressionally mandated federal debt collection programs. One is devised to collect delinquent non-tax debt by neutralizing federal payments and the other is to collect delinquent tax debt from those individuals who receive federal payments.
The Tax Payer Relief Act of 1997 authorized the IRS to collect delinquent tax debts from individuals and businesses that receive federal payments, by levying up to 15% of each payment until the debt is paid.
Before the IRS transmits an electric file to the FMS, the IRS will send each tax debtor a notice by certified mail that will include the tax bill, a statement of the intent to levy, an explanation of the debtor's rights to appeal, and an IRS phone number to inquiries...
Collecting The Levy
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Telecom Data Systems, President
Telecom Data Systems, President
by: Marvin Mitchell
History has proven that gold provides excellent investment opportunities during times of inflation, political unrest, and economic uncertainty. With terrorism on the rise, record oil prices, and an ever increasing Federal deficit, we believe the price of gold will explode in the near future.
Many wealthy individuals and large corporations seem to agree with our assessment. We've noticed a large number of institutional investors purchasing gold and other precious metals. To benefit from this trend, we do not need to be privy to everything they know - but for simplicity sake, we may want to imitate the things they are doing.
Today, I am urging all our members, customers, and partners to consider opening an e-gold account. Since e-gold is backed 100% by gold bullion, buying e-gold is like buying physical gold, but easier.
A couple of years ago, I opened an e-gold account with some...
Telecom Data Systems, President
Tax help > Telecom Data Systems, President
How IRAs work
How IRAs work
by: John Mussi
Are you taking advantage of individual retirement account (IRA) opportunities? IRAs can be frustrating because of the different forms and reports, difficult or confusing IRA rules. Successful retirement planning usually means coordinating personal savings with benefits from an employer's retirement plan and social security. However, in the last 30 years, retirement planning has changed, putting more emphasis on personal saving through retirement plans at work and through IRAs.
IRA Owner Benefits
As additional incentives to save, IRAs provide current tax benefits, such as:
Tax-deductible contributions to eligible individuals of traditional IRAs (since 1975)
Nontaxable distributions from Roth IRAs (starting in 1998) are found to be a more attractive alternative by many individuals who are ineligible for traditional IRA deductions
Income tax deferral on IRA earnings enjoyed by both traditional...
How IRAs work
Tax help > How IRAs work
Whole Life Insurance Explanation
Whole Life Insurance Explanation
by: Donald Lusan
A whole life insurance explanation should be required reading for anyone about to purchase life insurance. Whole life, in my humble opinion, has in recent years got a bad rap. People tend to buy term life insurance because it is cheaper. Although I believe that a good term insurance can take care of the insurance needs of most people, a good whole life insurance policy is worth looking at.
Guaranteed Death...
insurance quotes With Record-High Heating And Fuel Costs, Insulation Is A Simple Way For Americans To Conserve Energy And Save Money Whole Life Insurance Explanation
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Direct Line takes Industry Leading Step to Protect Car Insurance Customers
Direct Line takes Industry Leading Step to Protect Car Insurance Customers
by: Simon Ziviani
Direct Line is taking the industry leading step of continuing to offer the 'Driving
Other Cars' cover as standard in its car insurance policies.
DOC cover is provided for motorists to use other vehicles or to allow another motorist
to drive their car when they are in an emergency situation.
Emma Holyer, Motor Spokesperson for Direct Line commented:...
Direct Line takes Industry Leading Step to Protect Car Insurance Customers
Tax help > Direct Line takes Industry Leading Step to Protect Car Insurance Customers
Some Steps Towards Credit Repair
Some Steps Towards Credit Repair
by: Brandon C. Hall
Credit is an essential tool to most people's lives. A good credit rating allows for many things that we take for granted: having a credit card, being able to rent property, qualifying for in-store financing etc. . . If you fail to make payments towards a creditor this will affect your credit report collected by your credit bureau, and will make doing the above things difficult if not impossible. When your credit...
credit repair Some Steps Towards Credit Repair
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Color Cues to help you Find Mr. Right
Color Cues to help you Find Mr. Right
by: Alan Stafford
Color preferences say a lot about a person's personality and - perhaps more importantly to some of us - about a person's love style. Bright color preferences reflect outgoing characteristics, while darker colors reflect more subdued and calm qualities. Secondary colors, including purple, orange and green reveal a person's desires, goals and needs in a relationship. Color experts, such as light scientist...
color printers
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Some Irish Recipes to Celebrate St. Patrick's Day
Some Irish Recipes to Celebrate St. Patrick's Day
by: Niall Cinneide
St. Patrick?s Day is March 17th, and it is a ?day for wearing green? and other Irish traditions. Even though the patron saint St. Patrick was not born in Ireland, everything that is Green (which symbolizes spring and the prospering of the crops), fun and Irish can be worn or used to celebrate this holiday. And it is a holiday for all ages. Here are some entertaining ideas to use on St. Patrick?s...
seeds With Record-High Heating And Fuel Costs, Insulation Is A Simple Way For Americans To Conserve Energy And Save Money Some Irish Recipes to Celebrate St. Patrick's Day Tax help
Tax help > Some Irish Recipes to Celebrate St. Patrick's Day