Why Us?
RE Tax Service is dedicated to providing you with the standards of customer service you deserve. Fast, Friendly and Accurate with the most money back possible at the lowest price possible guaranteed. We believe great customer service to be the base of a good relationship.
Our History
RE Tax Service is family owned and has been servicing our community since 1964. It was founded by Raul H Espinoza, and with so much experience it’s no wonder that many families have and continue to make RE Income Tax their choice.
Why pay extra at other places for our basic everyday service.
Sacramento–The Franchise Tax Board (FTB) today announced it is now accepting 2011 state
tax returns. Also, FTB provides the following updates on law changes and filing services.
Final filing date is Tuesday, April 17 – FTB will consider tax returns and payments mailed or
submitted on April 17, as timely.
Individual tax rate decreases – The top tax rate dropped one-quarter percent from 9.55 percent
to 9.3 percent due to the expiration of tax increases enacted two years ago.
Standard deduction – The standard deduction for single or filing separately tax statuses
increased from $3,670 to $3,769. For joint, surviving spouse, or head of household filers, it
increased from $7,340 to $7,538.
Exemption credit increases – The dependent exemption credit increased from $99 to $315 per
dependent. The personal exemption amount for single, filing separately, and head of household
filers increased from $99 to $102. For joint or surviving spouses, it increased from $198 to $204.
Child and Dependent Care Expenses Credit – Beginning in 2011, this credit is non-refundable.
Individuals who pay for dependent care to seek or maintain employment may qualify for this credit
worth up to $1,125.
Check your county tax bill when deducting real estate taxes – FTB advises taxpayers to
examine their county property tax bill to determine the deductible and nondeductible portions to
report on their itemized deductions. Taxpayers should not rely on the federal Form 1098,
Mortgage Interest Statement, which often reflects the total amount paid to the county, including
other parcel taxes and fees that are not deductible.
Starting in 2012, FTB plans to add reporting requirements related to real estate deductions such
as property parcel number, deductible, and nondeductible amounts. For samples of all counties’
property tax bills and guidance on determining which taxes and fees are deductible, visit
ftb.ca.gov and search for real estate tax.
Use tax look-up table – New this year, taxpayers can use a “look-up” table to report their use tax
obligations on their state return. The estimated amount of use tax due is based on the individual’s
adjusted gross income. A use tax liability typically occurs when a California consumer or business
purchases tangible items for their own use from an out-of-state retailer that does not collect the
California use tax. Taxpayers can go to boe.ca.gov for more details.
New Jobs tax credit – This incentive provides a credit of up to $3,000 for each added qualified
full-time employee hired by a qualified small business employer. Funding is limited to $400 million.
As of January 1, $324 million remains available. The credit must be claimed on a timely-filed
original (not amended) 2011 return received before the $400 million limit is exhausted.
In general, employers qualify for the credit if they employed 20 or fewer employees in the prior
year. They must have a net increase in qualified full-time employees in 2011 compared to the
number of full-time employees employed in the prior year.
Net operating losses suspended – For 2010 and 2011, net operating losses from prior years
cannot be deducted by certain taxpayers. The net operating loss suspension rules do not apply to
taxpayers with net income of less than $300,000 or with disaster loss carryovers
EITC Home Page–It’s easier than ever to find out if you qualify for EITC
Earned Income Tax Credit also known as EITC or EIC is a tax credit for people who have low to moderate earned income. The earned income can be from working for your employer, yourself or from other sources such as certain disability income.
Did you know that there are events in life that may have a significant tax impact?
Many times we experience significant life events that have a tax impact too! This page explains the tax impact of these events for taxpayers.
Tax Information for Members of the U.S. Armed Forces
Members of the U.S. Armed Forces, especially those serving in combat zones, face some special tax situations and are entitled to some special tax benefits.
Tax Information for Innocent Spouses
Check here for all you need to know about Innocent Spouse including determining your eligibility, identifying the types of relief available, applying for relief, addressing your questions and so much more.
Tax Incentives for Higher Education
The tax code provides a variety of tax incentives for families who are saving for, or already paying, higher education costs or are repaying student loans.
The Health Coverage Tax Credit (HCTC) Program
The Health Coverage Tax Credit (HCTC) is a unique program that pays 80% of qualified health insurance premiums for eligible individuals and their family members. Find out if you’re eligible for this valuable tax credit, and how you can receive it.
Affordable Care Act Tax Provisions
The Affordable Care Act was enacted on March 23, 2010. It contains some tax provisions that take effect this year and more that will be implemented during the next several years. The following is a list of provisions now in effect; additional information will be added to this page as it becomes available. Go to IRS.gov
Small business tax return preparation and filing instructions is a core service offered to our clients. A properly prepared tax return can be filed to minimize the tax owed. Over the years, 100’s of small business Federal and State tax returns have been prepared for both service and manufacturing company clients.
Timely, efficient bookkeeping services are available for small businesses, non-profits, and corporations. Computerized accounts are prepared, saved and presented for client review on a quarterly, monthly, and/or annual basis. Budgeting and forecasting support are also available.
