We received several rebates which were paid out upon request. I think they included hot water heater, appliances, a couple from the utility and cooperatives. Chad, even hate to mention this since your geothermal sounds so much less than ours. Ours was $42,000, with almost $13,000 in tax credt ... which we can't claim until next year. We also got $1000 on the dual fuel heat pump from the energy cooperative. Our geothermal cost included 5 ton vertical loop system (five- 200 foot shafts), heat pump, back up furnace, programmable thermostats, radiant floor heating (I think 6 zones), humidifier, hot water heater, air filter, all ducting, labor etc, etc. Without looking at the bid, I can't remember all it included. I guess it's hard to compare if you're not comparing apples to apples. I'm estimating out total rebate/tax credits were between $17,000 and $20,000. Our builder and several of the subs were the ones who told us about the rebates we weren't aware of. They even gave us the forms.

Do you have a flexible saving account for dependant care? Child & Dependent Care Credit - Limit with ER Benefits Although there are expenses in excess of the $5,000 of dependent care benefits, there is no credit when the dependent care benefit exceeds $3,000. The reason for this is that the maximum allowable expenses that can be used for the credit is $3,000. You have actually received a tax benefit for a total of $5,000 in expenses by using the dependent care benefit. Therefore, there is no expense that remains allowable for the credit. The amount of the dependent care benefit disqualifies you from the child tax credit. Lines 28 - 32 of the Form 2441 will show this. If you have, for example, a dependent care benefit amount of $2,000 with the $7,169 of expenses, only $1,000 would be allowed for the calculation of the credit. The IRS does not allow the maximum dependent care benefit of $5,000 plus an addition of the maximum credit amount of $3,000 for the child. The dollars used for the benefit and the credit are overlapping. Generally speaking, depending on the level of your income, the $5,000 in dependent care benefit is a better deal for an individual than the credit.

The refund is an early payment of the increased child tax credit you deduct when you do your 2003 taxes next year. It is not being paid to people who do not "pay" taxes.. ie, their "refund" is actually "credit". If you don't get the max per child ($400) but when you do your taxes, find your income has increased enough to get the max deduction,you can get it when you do your taxes in Jan. If you shouldn't have received it and do anyway, you get to keep the $$. Remember the headaches and confusion caused by the last tax rebate?! Keep your letter with your tax stuff! You'll need it in January! I got mine Saturday 7/26, my sister got a letter this past Friday saying hers was coming, but she hasn't received it yet. They can use it, surely... their income is above the threshold to get earned income credit, but really too low to support a family of 5.

Thanks again! This is extremely helpful! My house is 2 stories and the first floor is 2000 sq ft and the 2nd is 2200 sq ft. This system is just for the 1st floor. It's an older home so even though it's a lot of sq ft, it doesn't have any high ceilings so volume of air is not as much. The current system (when it had freon) did a good job of cooling all the rooms on the first floor and it's a 20 year old carrier 4 ton seer 10. I'm not replacing the 2nd floor system right now (it still works) but I know I'll be replacing it in the next few years (if not next year). Not sure what you mean by what stat was quoted - probably just due to my limited knowledge - could you explain what you mean by that? He did mention a filter box would be on the end of the furnace that needs replacement every 6 months but I don't see it in the quote so I'll follow up with him to find out. Yes, under 4 grand - and TX has an energy star tax free weekend coming up - need to see if this equipment qualifies - if so, no sales tax. Yes, first floor system with furnace in attic. Will ask about lineset also - didn't mention a new one so I assume flushed - but I'll double check. Thanks again!