Monday, March 29, 2010

Tax credit or Tax rebate?

Last summer, while updating the house, everyone was happy to talk about the $1500 tax credit I could get back. The gas company also had a rebate program going on for some of the things we did around the house.

I guess I wasn't paying all that much attention. I don't need tax credits. I have plenty. I didn't realize this until I did our taxes in February, when I realized it was a tax credit they were talking about. I didn't get $1500 back. We did get a second bathroom, which was nice.

The gas company rebates were nice. I filled out all the paperwork, and they sent us several checks in the fall last year. They called me one day, and wanted the receipts for the insulation we put in the walls. I hadn't been able to find them. They told me they would leave the issue open, and if I found the receipts, they would process the rebate.

When I was doing the taxes in February, I found the receipts for the insulation. This was nice, but by that time I had lost the issue number and fax number to get the rebate processed. About a month or so ago, they called me back again. This time I was able to put the fax number and the receipt together.

We hadn't seen anything as of this weekend, I was going to call this week to see if they had it or not, but yesterday a check showed up in the mail. $65 - Making the two bats of insulation I had the receipt for free. (Free after rebate)

Always bite on the tax rebate. Beware of the tax credit you can't use. That's the lesson for the day.

Bonus lesson: If your wife knows it was a rebate, and it came, and you put it in the bank, she might go to the fabric store that night...

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