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Talk:Energy Policy Act of 2005 & Transportation Act of 2005

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Discussion Page for the Energy & Transportation Acts

How will these new laws affect your clients? Have you learned anything about them that you'd like to share? Do you have any questions to ask about them?

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EPA of 2005 - when will it effect individuals?

Will the tax credits/deductions for individuals take effect starting in 2006? I beleive so, but wanted to verify.


Just an FYI to the folks at Intuit and everyone else on the TaxAlmanac. I just decided to read the content on TaxAlmanac about the "Energy & Transportation Acts". Just from the name these Acts seem kinda boring and not having much to do with TAXES. Well, after it was posted for a week or two on the main page I read it and got a little bit from the content on what might effect my clients and some planning opportunities. I had a client ask me this past tax season about the $27,000 they spent on their house for energy saving purposes in late 2004 and early 2005, so I guess I'll have to find out if they will get any benefit from these new tax laws. --Gregg Gillaspy, CPA, CFP 21:34, 30 Aug 2005 (CDT)


I believe that the credits/deducitons will not be effective for improvements prior to 12/31/05. Also there is a $500 maximum lifetime credit - of which only $200 can be for new windows. So I think your clients are out of luck on their expenditures in 2004/2005. MP, EA

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