Top Tip for Saving Money on Your Tax Returns: Simply Insulate, Says NAIMA.ALEXANDRIA, Va. -- As the end of the 2006 tax year draws near, here's a tip: insulation is one of the energy efficient products that homeowners can install to qualify for up to a $500 tax credit. Considering that more than 65% of all US homes are under-insulated by even today's minimum standards, most every homeowner could see savings and increased comfort from adding more insulation. NAIMA NAIMA North American Insulation Manufacturers Association , the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Insulation Manufacturers Association, offers homeowners the following tips for increasing comfort and savings and taking the energy tax credit through thermal insulation The term thermal insulation can refer to materials used to reduce the rate of heat transfer, or the methods and processes used to reduce heat transfer. Heat is transferred from one material to another by conduction, convection and/or radiation. . * Insulation levels must meet the requirements of the minimum model energy code, called the 2004 International Energy Conservation Code, to qualify for the tax credit. For most homeowners this means adding between an R-19 and R-30 insulation to their attics in order to qualify for the tax credit and increase their comfort and savings. * The tax credit is for 10 percent of the final cost of qualified home improvement products, like insulation, windows and high efficiency equipment, for a maximum of $500 over 2006 and 2007. Qualified home improvements can be done over the course of two years (January 1, 2006 to December 31, 2007) until the maximum credit of $500 is reached. However, the tax credit must be taken in the tax year the improvement was made. * Homeowners must keep their receipt showing the price of the insulation. They also need a manufacturer's certification statement for their records. You can find this certificate on most manufacturers' websites. NAIMA lists links to its members' certification statements at www.SimplyInsulate.com. Consumers should consult IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. guidelines for full details on how to qualify for the tax credits. * Attics, unfinished basements and crawlspaces offer some of the easiest and most effective places to add insulation in an existing home. Ceilings over unfinished spaces like garages, porches and unvented crawlspaces are other places homeowners might consider adding insulation. Outside walls are typically cost effective to insulate in·su·late tr.v. in·su·lat·ed, in·su·lat·ing, in·su·lates 1. To cause to be in a detached or isolated position. See Synonyms at isolate. 2. only if there is no existing insulation in the walls already. * The US Department of Energy says "one of the most cost-effective ways to make your home more comfortable year-round is to add insulation to your attic." * Check www.SimplyInsulate.com for instructions on how to install insulation or hire a contractor. About NAIMA NAIMA is the association for North American manufacturers of fiber glass, rock wool rock wool n. See mineral wool. Noun 1. rock wool - a light fibrous material used as an insulator mineral wool , and slag wool mineral wool. See under Mineral. Same as See also: Slag Wool insulation products. Its role is to promote energy efficiency and environmental preservation Environmental preservation is the strict setting aside of natural resources to prevent the use or contact by humans or by human intervention. In terms of policy making this often means setting aside areas as nature reserves (otherwise known as wildlife reserves), parks, or other through the use of fiber glass, rock wool, and slag wool insulation, and to encourage the safe production and use of these materials. |
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