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Tax credit for wood-burning stoves to expire

If you’ve been thinking about purchasing a new, more efficient wood-burning stove, you will want to do it before the end of the year. The federal tax credit to purchase one will expire on December 31.

The tax credit provides 30 percent (up to $1500) for the purchase of a qualified biomass-burning stove or fireplace insert between January 1, 2009 and December 31, 2010.

It covers any wood- or pellet-burning stove that meets the 75 percent efficiency rating qualifies.
Professional installation costs are included as long as installation is required for the proper and safe operation of the stove.
Must be your existing home and principal residence. Rentals and new construction do not qualify.
For more information, go to http://www.energystar.gov/ and click on “tax credits.”

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