That beautiful blue waterfilled pool in your back yard may be your answer to greener heating and air conditioning for your home. **Bonus** you also get a 30% tax credit (NOT a tax deduction) on the total cost of the installation. Ask a tax professional to see if you qualify and to learn the difference between a tax credit and a deduction.
So what does it take to use your pool to heat and cool your home? Simply put, a customized geothermal heating and cooling system that uses the water temperature for the comfort heating and cooling, even when the water is cold we can extract the heat and heat your home. A side benefit in the air conditioning mode is making the pool warmer when you cool your home, because it takes the heat in your home and basically removes it and puts it in the pool. The perfect combination a heated pool and cooled home in the summer.
I recently discussed the IRS code regarding the geothermal tie in for swimming pools as a tax credit. Randy Warshawsky, aka the Tax Man (see information below) already was well aware of this tax credit as well. When asked about geothermal, he smiled and said, “The IRS code specifically spells out that no credit is available for equipment used to heat swimming pools or hot tubs, but that is not what you are doing here.” Instead the energy efficient geothermal tie in is to utilize the swimming pool’s water to heat and cool the home.
He added, “In this case this is just a side product of the Geothermal Heat Pumps function while cooling your house. So now you are able to enjoy your home and that unwanted heat is in your pool. The credit is 30% of the cost (IRC code section 25D) of the Geothermal Heat Pumps system.”
Check with your tax professional to assure you qualify for this tax credit, there are a few stipulations. If you need a tax professional, Randy Warshawsky, EA is located in the Silicon Valley and he has an excellent reputation as an Enrolled Agent that stays on top of changes in the tax code, tax preparation and defending his clients. It is interesting to note that Randy gets calls to defend other tax preparers’ clients.
Randy Warshawsky, EA
The Tax Man
1800 Hamilton Av #220
San Jose CA 95125-5635
408-445-1151 – phone
408-445-1152 – fax
Randy Warshawsky, EA has been engaged in the planning, preparation and defense of tax returns for the past 27 years. He actively seeks ways for his clients to abide by the IRS code when making decisions – especially when a slight change in his clients decisions could mean the difference of hundreds or even thousands of dollars in tax breaks.
Call Cold Craft, Inc. for more information at 408.374.7292 or email [email protected].
If you need help with temperature, contact Cold Craft, Inc.
408.374.7292 or [email protected]