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+--- Thread: Tax return on Solahart systems- Hawaii residents? (/showthread.php?tid=3474)
RE: Tax return on Solahart systems- Hawaii residents? - StillHope - 07-28-2008
Liz,I don't know what to think.
I did talk to Hawaii Taxation office and the lady sent to me the form (see the earlier post) where she highlighted that non-residents are eligible.I am going to read the whole thing again,but I don't remember anything about income in Hawaii.
I don't know what to do and who else to ask..
RE: Tax return on Solahart systems- Hawaii residents? - Liz - 07-28-2008
StillHope,
Maybe you should ask whoever does your taxes. Even if they're in Calif, they can look this up for you.
Just a thought...
And here's another one:
If you do your own taxes, like we do, then read that form carefully. You need to have some income from Hawaii to report to send it in. Maybe print out the form and try filling it in and see what your bottom line would be. Follow the instructions to the letter 'cause you know that's how they'll look at it.
Good luck! :-)
aloha, Liz
"The best things in life aren't things."
RE: Tax return on Solahart systems- Hawaii residents? - StillHope - 07-28-2008
Thank you,Liz.
What your said,makes perfect sense.Non-residents,who has some income as rental property or so -that's the category eligible.
Tax credit of 35% it's a lot money to lose.I am thinking,may be stick to the gas on demand and do it after the move?
RE: Tax return on Solahart systems- Hawaii residents? - jdirgo - 07-30-2008
Read this:
1. All tax credits apply only to the actual cost of the system,
including accessories and installation. They do not
include consumer incentives and costs for which another
credit is claimed.
2. The tax credit shall be claimed against net income tax
liability for the year in which the energy system was
purchased and placed in use in Hawaii. You can only
claim the credit if you owe taxes; the credit is not
refundable to residents who don’t have a tax liability.
3. Tax credits that exceed the taxpayer’s income tax liability
may be used as credit against income tax liability in
subsequent years until exhausted.
From this document: http://hawaii.gov/dbedt/info/energy/publications/taxcredits06.pdf
Another thing to consider is if you did the tankless and then later, when the building's complete, installed the solar, you'd have to tear up your roof to install the solar system (and who know what else might be needed). Would the cost of the retrofit + the cost of the now-unneeded tankless system be more than $1750 (%6000 - $1000 HELCO credit = $5000 x 35%)? You could probably resell the tankless and re-coup some of the cost, but very often installing the desired system initially is a lot less expensive than a retrofit.
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
RE: Tax return on Solahart systems- Hawaii residents? - Liz - 07-30-2008
Just so you know, we didn't have to tear up our roof to have the solar installed. The guys just drilled 4 holes for each panel (we have 2) and two 3/4 holes for the pipes (in and out), then sealed them up. And they mounted the whole thing over the carport instead of over the house itself, just in case.
But one still needs to consider the costs, of course.
aloha, Liz
"The best things in life aren't things."
RE: Tax return on Solahart systems- Hawaii residents? - StillHope - 07-30-2008
Liz,than you again.
John,you are such a good person!You borrowed Dave's yellow submarine to
rescue a drowning person - and back to your life.
I have to make my decision in a matter of days,literary.
Now my head from being just swollen,but still round,is getting square!
Just talk to my builder to ask him to compare the costs,and he hit me
on the head with another thing ,asking if his solar guy can install
the solar heater of a different,local kind,not the Solahart!!!
I have to start another thread on those different types (the builder doesn't know what kind,his solar guy does).
I want to buy a house!!!!!
RE: Tax return on Solahart systems- Hawaii residents? - Guest - 07-31-2008
There is a fundamental problem with tax credits for public manipulation.
The 1st thing is that the money always goes to the vendor not the buyer.
It is outrageous that you can get a $1000.00 rebate for buying a $6000.00 unit that you could have designed and built your self for $100 bux..
It seems politicians that create these things are not very resourceful or they don’t expect that you are.
RE: Tax return on Solahart systems- Hawaii residents? - StillHope - 07-31-2008
Esnap,are you building and selling solar water heaters ?
If they work,I think many people would buy it from you .
RE: Tax return on Solahart systems- Hawaii residents? - Guest - 08-01-2008
Making a solar water heater is soooooo simple.
If you just laid a black water hose in the sun for an hour and then check the temp.
Boom,, you just made your first solar water heater.
Now if you want to make it more efficient and have a greater capacity then replace the water hose with a copper tube (plaint it black) lay it out in a grid using 90 deg fittings and incase it under glass. you could even put some silver Mylar under it.
Add a tank ( used water heater) leave the insulation on it. Situate the tank above the collator array so that the hot water will naturally rise via thermo-siphon.
A simple thing like this can be made mostly of used (recycled stuff) .
Those are two ways to do it but there are many others.
The sun provides about 1000 watts of energy per square meter.
"Never trouble another with what you can do yourself. "
Thomas Jefferson
RE: Tax return on Solahart systems- Hawaii residents? - jdirgo - 08-03-2008
My statement about having to alter the roof was based on a few people that know that for esthetics, put the pipes from the solar collector to the tank through the roof so that there wouldn't be outside lines. If you run the lines to and from the tank outside, that's not an issue. If you do, there will be more roof intrusion.
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com