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Tax Credit

Allocation Update for California First Time Home Buyer Credit

by Jonas Kruckeberg June 10, 2010

Allocations for the California First Time Home Buyer State Tax Credit are only estimates, based on small samples. The numbers are overstated as there will be duplicate, revised, and invalid applications included as the Franchise Tax Board have not verified any of the applications.
Applications for First-Time Buyer Credit received as of 06/08/10

Applications and Allocations

As Of
Estimated [...]

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How To Reserve Your California Tax Credit on a New Home

by Jonas Kruckeberg May 3, 2010

Reserving your tax credit on a new home in California has some specific criteria that you must follow in order to be eligible.
The FTB or Franchise Tax Board, will accept reservation requests for the New Home Credit by fax only beginning May 1, 2010.
Reservation Requests
If a buyer wishes to request a reservation, before the [...]

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California New Home and First Time Home Buyer Credit Begins

by Jonas Kruckeberg May 3, 2010

As of May 1, 2010 the California New Home and First Time Home Buyer Credit began.  The First Time Home Buyer credit will go at a seriously brisk pace, so you better get your forms in on time as escrow closes.  For New Home buyers, it will be a bit slower, but you can also [...]

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California Releases Guidelines for 2010 New Home and First Time Home Buyer Tax Credit

by Jonas Kruckeberg March 30, 2010

The California Franchise Tax Board released the guidelines for the 2010 tax credit that everyone is raving about.
This is an update to last week’s post on the California tax credit extension. I will concentrate on answering several questions that have been raised and provide a few popular scenarios that many can relate to.
Now [...]

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$10,000 California First Time Home Buyer and New Home Tax Credit Will Be Extended May 1, 2010

by Jonas Kruckeberg March 23, 2010

California Legislature has passed Governor Arnold Schwarzenegger’s proposal (AB 183) to extend the $10,000 first time home buyer tax credit starting May 1, 2010 until December 31, 2010. He is expected to sign the bill soon.
The previous California tax credit limited to a total of $100 million for new home purchases only was exhausted [...]

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8000 First Time Buyer Credit and 6500 Move Up Buyer Credit Officially Extended

by Jonas Kruckeberg November 6, 2009

Cash for Clunkers is gone. Now Congress has another deal for you: Buy a home before May 1, 2010 and collect up to $6,500 from the government if you’re a move up buyer.  If you’re a first-time home buyer, get up to $8,000 as the credit has been officially extended.
As part of the government’s efforts [...]

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