Since we're talking about hot water heaters, just a heads up:
There are a series of tax breaks on energy improvements to your home that are available through the end of tax year 2007, and the best one IMO is the one for the water heater.* *Apparently, there is a $300 credit
(not a deduction) through the end of 07' if you install a new hot water heater before then.* You might want to check and see if there are minimum energy standards that it has to meet, but anyway, that's a really
nice credit for a hot water heater since many of them dont even cost that much.* * If you have one thats not even completely bad yet, it might be worth the credit just to replace it to get that money.
example:* If the total job, say, for a new 50 gallon hot water heater including install cost you $500, you could basically do it for $200 dollars counting the credit.
You can transfer "thank you" tips to my paypal account #38201.... just kidding.