Frequently Asked Questions
Q: What is the first time homebuyers credit? Was it extended?
A: The first time homebuyers credit is a refundable credit of $8,000 for most new homebuyers.
This credit has recently been extended to include purchases made until April 30, 2010. Homes that enter into binding contracts on or before this date, and close before June 30, 2010 will be eligible.
In addition to this extension, an new $6,500 credit has been added for new home purchases by existing homeowners who do not qualify for the $8,000 credit. Homeowners must have lived in their house for at least 5 consecutive years during the previous 8 years.
Both credits may be claimed on either the 2009 or 2010 tax returns. Other restrictions may apply.
More information can be found at http://www.irs.gov/newsroom/
Q: Is California raising taxes by 10% this year?
A: Starting November 1, 2009 the state will be withholding an additional 10% from paychecks. Example: If your current California tax rate is 2%, it will increase to 2.2%.
This is not a tax increase, as the money will be credited on your 2009 tax return, and will either be refunded or decrease your tax liability. http://www.ftb.ca.gov/
Q: What is the best way to contact my tax preparer?
A: As you might imagine, during tax season we are quite busy. The best way to contact your tax preparer is by E-mail.
Q: When will I get my 2009 Federal Refund?
A: Based on the type of refund you select during tax preparation, your federal refund could take from 1 day to 6 weeks to receive.
1-2 day refunds can be checked here. Usually arrives 1 day after filed.*
2-Week refunds can be checked here. Usually arrives 2nd Friday after filed. *
Basic E-File refunds can be checked here. Usually arrives 4-6 weeks after filed.
Q: When will I get my 2009 California State refund?
A: Usually California state refunds arrive 7-10 days after filed. For an instant status report, click here and fill out information form.
Q: How do I make an appointment?
A: Call us during office hours at (714) 379-8243 and our secretary will setup a convenient appointment time.
*Rapid refunds are subject IRS and SBBT approval, and are therefore not guaranteed.