Biomass Tax Credit – 26% Off Final Purchase & Installation Costs!
Looking to save on your tax bill while heating your home with renewable wood? Fireplace Warehouse is here to help. We offer a wide variety of fireplaces and products that qualify for the Section 25(D) tax credit – which saves you up to 26% on your final purchase and installation costs for your unit. Learn more below!
IRS Section 25(D) Lets You Write Off Up To 26% Off The Cost of Your Fireplace
Wondering how you can save 26% off fireplace inserts, wood stoves, and other products from Regency and Jotul at Fireplace Warehouse? It’s simple – thanks to IRS Section 25(D), you can enjoy a big tax break on your purchase.
You won’t get a 26% discount up front, but the IRS lets you deduct 26% of the cost of your fireplace from your tax returns – with no lifetime limits or other caps or exclusions. However, starting in 2023, this tax credit drops to 22%.
What Units Qualify For A 26% Tax Credit? What You Should Know
All 2020 EPA-certified wood stoves and inserts with an efficiency of 75% or better qualify for deductions under IRS Section 25(D). We have a wide variety of qualifying products such as Regency and Jotul fireplaces at Fireplace Warehouse, so come into our store today to learn more and find the right product for you.
How Long Do I Have To Take Advantage Of This Tax Credit?
This new tax credit applies to all qualifying biomass-fueled heaters, and can be deducted for all installations that are completed before December 31, 2023.
As noted, however, the tax credit is 26% for 2021 and 2022, but falls to 22% in 2023, so sooner is better if you’re thinking about replacing your fireplace or installing a new fireplace insert or wood stove.
So don’t wait. If you’re ready to get started, shop more inventory online at our fireplace store, contact us if you have any questions, or stop by one of our locations in Denver, Fort Collins, or Colorado Springs.