Getting your hands on Uncle Sam's cash

By Layron Livingston - bio | email
Posted by Ellen Krafve - email

TYLER, TX (KLTV) - If free money is what you're after, it's no secret that the government wants you to have it. The cash-for-clunkers craze is all the rave...for now, but it's not the only way for you to get your hands on even more of Uncle Sam's cash.

$4,500 to trade in your old clunker for a new, more efficient car. It drove buyers to the lots, but Peltier Chevrolet's Dean Cagle says it doesn't have to end there. He says there's one tax credit still out there that many people don't even know about.

"If you buy a Tahoe hybrid, or one of the heavier hybrids, you can get $2,200 income tax credit just straight off the top," said Cagle.

The government says Ford and Nissan are offering similar credits on hybrids, as well. Now, there's no government-backed incentive for trading in an old appliance, but fear not! The folks at Don's TV and Appliance say they've got you covered.

"A customer can get rid of that old washing machine or that old analog television," said Bryan Thedford. "We'll actually give them a cash value for that trade-in so they can purchase a new HD TV, a new energy efficient washer or dryer."

First-time home buyers can still qualify for an $8,000 tax credit if they buy this year. $1,500 in tax credits has been and is still on the table if you want to spruce up your existing home with energy efficient materials. Billy Yarborough is with Maddox Air Conditioning.

"A lot of people think they're getting $1,500 off on their windows and their insulation [saying], 'Now, I can get $1500 off on my air conditioner,' and you can't do that," explained Yarborough. "It's for a two year period. You could claim $500 of it this year, or a $1,000 of it next year."

He says only certain products qualify, but the savings are well worth it.

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