Tax Credit FAQ

1. What is the Biomass-Burning Stove Tax Credit?

This federal tax credit encourages people to make energy-conscious purchases that improve the energy efficiency of their home. It is a credit, up to $1,500, that you can get for buying a qualifying biomass-burning stove or fireplace insert between January 1, 2009 and December 31, 2010. Biomass simply means the stove uses wood or pellet fuel.

2. What is the difference between a tax deduction and a tax credit?

A deduction is an expense or amount you can subtract from your taxable income. A tax credit lowers your actual tax bill dollar-for-dollar, in this case by up to $1,500. In general, a tax credit is more valuable than a similar tax deduction.

3. How is the value of this tax credit determined?

When you buy a qualifying biomass-burning appliance between January 1, 2009 and December 31, 2010, you get a tax credit of 30% of the total price, up to $1,500 dollars. So, for example, if your wood or pellet stove cost $5,000 (which can include installation), you can deduct $1,500 from the taxes you owe the government.

4. What appliances qualify for the tax credit?

Any wood- or pellet-burning stove that meets the 75% efficiency rating qualifies for this credit. Manufacturers test their products to certify they meet this efficiency standard and the IRS-required certification will come with the product straight from the appliance manufacturer. Visit the experts at Matchless Stove & Chimney, who can explain which products qualify for the tax credit.

5. Are biomass stoves installed in new or vacation homes covered by this tax credit?

No. The credit only applies to your existing principal residence. New homes and vacation homes don't qualify, nor do homes owned as rental units.

6. How do I ensure that I can collect on my tax credit?

Save your receipt that proves you purchased the qualifying appliance between January 1, 2009 and December 31, 2010. You'll also need a manufacturer's certification statement that states your product meets the 75% efficiency rating needed to qualify for this tax credit.Matchless will give you the manufacturer's certification statement that includes

The name and address of the manufacturer.

Identification of the class of qualified energy property (e.g., biomass-burning stove).

The make, model number and any other appropriate identifiers of the stove.

A statement that the product is an eligible qualified energy property.

A signature of a person able to bind the manufacturer to the above standards.

These documents don't need to be attached to your tax return, but you should keep them for your records.

7. Are installation costs included in this tax credit?

Yes. Installation costs are included as long as professional installation is required for the proper and safe operation of the stove. Matchless Stove & Chimney provides the expertise, personal service and product selection homeowners need to make the right decision.

8. Where can I find more information about this tax credit?

Visit the Matchless showroom closest to you for more information on the wood and pellet stoves that qualify for the tax credit. Government Affairs Issues & Legislation section answers some of the more technical questions on the tax credit legislation. You can also check out the IRS's description.

Our History

The year was 1977: The movie "Star Wars" lit up the big screen. The Porsche 928 debuted at the Geneva Auto Convention, and Tim Madden started Matchless Chimney Care. With a desire to provide quality service with a home town touch, he went door-to-door inspecting and cleaning fireplace and furnace chimneys.

The next few years flew by. Tim opened his first wood stove showroom in New Salem, NY. And Matchless began operating out of a small office, instead of Tim's home office. The next big move was in 1986. Tim bought a new showroom in Glenmont, NY, and today it is the site of the Matchless headquarters for sales and installation.

The store and the actual hearth products have changed and advanced with the times. Even the name changed from Matchless Chimney Care to Matchless Stove & Chimney. So through word of mouth and reliable service Matchless grew from cleaning one to two chimneys each day to cleaning
over 3,000 chimneys annually. Tim's family also grew from one child to six, with many of them working at the company
to this day.

Matchless Stove & Chimney's reputation and sales thrived, but Tim still dreamed of taking the company to a new level. With help from his sons, Jeremiah and Isaiah, Tim looked for the ideal location for a second showroom. After a year
of looking, they found the future site of the new showroom. In August 2007 Matchless opened the second store in
Clifton Park, NY.

The 4,000 square foot showroom has been a huge hit, featuring the best fireplaces, stoves and mantels in the Capital Region. Matchless Stove & Chimney has evolved into a full-service retail and installation business. But some things haven't changed. The Matchless family has not forgotten its roots, which means that our friendly, knowledgeable team is ready to go the extra mile to provide courteous and professional service for each and every customer.

Our Mission

Matchless Stove & Chimney has been family owned and operated for over 25 years, installing and servicing fireplaces, stoves and chimneys for 16,000 plus customers. Every day, we look for new ways to make a positive impact on the lives of our customers, employees, family, friends and suppliers.

We're Matchless Stove & Chimney. Can we build a fire for you?

Our Small Business Excellence Award

In May 2007, Matchless Stove & Chimney was awarded the Small Business Excellence Award by the U.S. Small Business Administration. This award recognizes the importance of small business to the economy, and celebrates small businesses that meet a high standard of excellence. Matchless received this prestigious award for demonstrating longevity, expansion and innovation.

Member since 2006

Tax Credit FAQ 1. What is the Biomass-Burning Stove Tax Credit?