$1500 Wood Stove Tax Credit to Expire December 31By JHCadmin, August 23, 2010Biomass [bahy-oh-mas] –noun - Organic matter, esp. plant matter, that can be converted to fuel and is therefore regarded as a potential energy source. If you’re in the market for a new wood stove, pellet stove, fireplace, or fireplace insert, now is the perfect time to buy – while there’s still time for you to claim a tax credit of up to $1500 on your 2010 federal income taxes.The tax credit, which expires December 31, 2010, is good for 75 percent-efficient biomass burning stoves and can be used for the purchase and installation of the stove, venting, and hearthpads.The best news:The tax credit is good on all stove and fireplace brands Rich’s for the Home carries, including Lopi, Hearthstone, Avalon, Morso, and Harman.When you purchase an energy-efficient stove, fireplace, or fireplace insert, you’ll receive certification that the product qualifies for the tax credit.Here’s how the tax credit works:Say you spend $3,000 on a stove. You can claim a 30 percent tax credit – or $900 – on your federal income tax return. The credit either increases your tax refund or decreases your tax bill, dollar-for-dollar.The Camano StoveWe’ll have a brand new model of wood stove on display at Rich’s in early September. It’s called the Camano. This contemporary stove (which has a twin gas stove model) is manufactured right here in the Seattle area, at Travis Industries’ Mukilteo plant. Travis Industries builds the popular Lopi, Avalon, and Fireplace Xtrordinair brands of stoves. The wood stove version of the Camano is eligible for the tax credit.There are two fantastic benefits of heating with biomass:1. Lower heating costs – Wood and pellet prices fluctuate less than propane, oil, and natural gas.2. ‘Green’ heating – Wood and pellet fuel is a carbon-neutral, renewable resource. Today’s stoves produce more heat with less wood and are clean-burning, with less ash and minimal outside air emissions. They eliminate 75 percent of the carbon emissions associated with fossil fuel burning.Here’s a video from our friends at Travis Industries that includes more details about the tax credit:Biomass Tax Credit from Travis Industries on Vimeo.For complete details about the tax credit:IRS Notice 2009-53, Non-business Energy PropertyHearth, Patio & Barbeque Association (HPBA)Recent Articles See All Fire Dining Tables: Warmth and Ambiance Year-Round Decorating Your Outdoor RoomFire PitsOutdoor Furniture Author:Rich's For The Home Posted:November 1, 2023 It’s a great time of year to enjoy a delicious meal al fresco around a fire dining table. These tables feature a built-in fire pit in the center, which provides both warmth and ambiance. Read More 5 Advantages of Kamado Joe Grills Grills Author:Rich's For The Home Posted:October 1, 2023 5 advantages kamado-style grills have over conventional charcoal grills, PLUS two of our favorites from Kamado Joe: Classic Joe III and Big Joe III. Read More Infrared Saunas: Relax at Home from the Inside Out Saunas Author:Rich's For The Home Posted:September 1, 2023 Eight benefits of relaxing in an infrared sauna, plus our favorite saunas by Health Mate: the Enrich, Inspire, and Essential series. Read More Outdoor Lanterns Add Dramatic Elegance: Tempest Torch and Tempest Lantern Tempest Torch Author:Rich's For The Home Posted:August 1, 2023 Gas lamps dramatic elegance to outdoor spaces. Learn about Tempest Torches and Tempest Lanterns. Read More 5 Trends in Luxury Outdoor Furnishings for 2023 Outdoor Furniture Author:Rich's For The Home Posted:July 1, 2023 Create a stylish, comfortable, multi-functional outdoor oasis that you’ll love spending time in. Read More Complete Fire Pits by Fire Garden: Big, Bold, Beautiful Flames Fire Pits Author:Rich's For The Home Posted:June 1, 2023 Dreaming of a fully-assembled, weatherproof fire pit that provides cozy warmth year-round? Check out Complete Fire Pits, a new line of fire pits manufactured locally by our friends at Travis Industries. Read More