Nonbusiness Energy Property Credit & Estimated Taxes

Here’s something worth considering if you plan to pay estimated taxes in 2009. This nonbusiness energy property credit, which expired after 2007, has been reinstated.

According to the IRS, the amount of the credit has increased from 10% to 30%, limited to a $1,500 total amount for 2009 and 2010 installations. It also has been expanded to include certain asphalt roofs and stoves that burn biomass fuel.