By AlexisLopez February 05, 2013
I got my taxes done here for 2011 and when I had them done for 2012, the preparer noticed that they had done my taxes wrong! I ended up owing the IRS 600.00 bucks! The preparer at Kwik Tax never asked me any questions about my claims and filled in the forms completely wrong and when I went back and complained to the manager, I had to argue with him to get a refund for their terrible service! He didn't even refund me the money for the amendment I had to get, like he said he would! ...read more
By ALISIA at Citysearch April 05, 2011
JOSE PEREZ, I DONT KNOW WHO YOU ARE ANDCANT BELIEVE THE LIES YOU ARE SAYING ABOUT LATINO TAXES. I HAVE BEEN A CLIENT OF LATINO TAXES FOR 6 YEARS. THEY DO A GREAT JOB EVERY TIME NEVER HAD ANY ISSUES WITH IMMIGRATION. AS I TO WAS AN ILLEGAL AT ONE TIME AND NOW I HAVE MY RESIDENCY. THANKS TO DOING MY TAXES WHICH WAS USED TO PROVE THAT I HAVE BEEN IN THE UNITED STATES FOR YEARS. THIS DISCREDITING LATINO TAXES IS INCORRECT I DONT KNOW WHERE HE GOT HIS INFORMATION FROM OR MAYBE IT IS A COMPETITOR SAYING LIES TO STEER PEOPLE AWAY FROM LATINO TAXES. i GURANTEE WHAT IS BEING SAID IN THE PREVIOUS COMMENTS ARE UNTRUE. THANK YOU AND LATINOTAXES IS A GREAT PLACE TO DO TAXES.,, ...read more
By Anonymous February 21, 2011
They found savings I didn't even know I was elligable for ...read more
The new tax rules for Registered Domestic Partners in California (and other community property states) have been in the news a lot lately (here and here, for example). Unfortunately, most of the coverage seems to be focused on the complexities and filing issues introduced for 2010 tax returns. What's not being mentioned is the fact that many California Registered Domestic Partners who began their partnership in 2007 or earlier are running out of time to amend their returns and claim a refund. California is the only state to extend community-property treatment of income to Registered Domestic Partners in 2007. (Washington and Nevada have since followed suit, but the changes didn't take effect until later years.) Because of this, individuals who were in an RDP relationship in California in 2007 have the option–but not requirement–to amend their 2007 returns if the rule change is beneficial to them. However, because the IRS limits the amount of time you have to file and claim a refund, most taxpayers will run out of time to file an amendment for refund for 2007 in April of this year. How much could it cost you if you don't amend? Well, it depends on your situation, but generally the biggest factor to consider is how much of a difference existed in the income of the two partners. Generally the bigger the difference, the bigger the refund. The average amount of refund I've seen so far has been around $1,000. The largest refund for a single year I've prepared was worth around $10,000!! Don't leave that kind of money on the table! Talk to a tax professional, and get your 2007 amendment filed before the April filing deadline! ...read more
By Class 5 Tax March 27, 2011
Nominate your local favorites today :)Join One PacificCoast Foundation and East Bay Express as they honor and celebrate Oakland businesses and artists. Save the date and nominate!Nominate by April 1Nominate the Oakland businesses and artists that make a difference in our neighborhoods for categories like Oakland Soul, Ripple, Greenie, the new Socially-Responsible Rockstar, and more! Make your nominations here.Winners will be announced at the party – come help us celebrate! You'll get to taste Oakland's global comfort food, wine, beer, tantalizing candy bar, teas, baked goodies, and so much more! Talk to hundreds of other Oakland lovers, and chill to Oakland tunes.Party – Friday May 13, 20116:00pm – Awards Ceremony – Lakeside Theatre6:30pm to 10pm – Party – Garden Room&Lakeview TerraceKaiser Center300 Lakeside Drive, OaklandTickets On Sale Now for $10Get Your Tickets HereFestivities-Global Comfort Foods – Beloved foods from Oakland's delicious melting pot: what your Korean, Mexican, Japanese, Italian, Thai, American and other moms would make- Cupcakes on Roller Skates with the Oakland Outlaws- Art Before your Eyes- amazing live art demonstrations- Oakland Candy Bar- East Bay Express photo booth- DJ spinning all-Oakland tunes- Fabulous finds from Oakland Unwrapped! artists and businessesSponsorships AvailableBe a sponsor and get in front of over 1000 small businesses, artists, civic leaders, community organizations, and Oakland residents!Want to get involved?- Be a food or drink vendor- Musicians – get on the set list!- Volunteer the day of, help out in the weeks ahead!- Be an Oakland Indie Ambassador & help spread the word through your social networks!Connect with the Oakland Indie Awards online: Add to Your CalendarOutlookYahooGoogle ...read more
By Class 5 Tax March 23, 2011
The IRS recently posted the information below…and at about the same time I was helping an unemployed taxpayer save thousands by showing this person how to avoid penalties on an IRA distribution that was used to get through the lean times. So if you're under age 59 1/2* and had to take a pension or IRA distribution last year, or you're considering taking one, make sure to look carefully for all the possible exceptions to the early distribution penalty. There are several ways to get money out of an IRA or pension without penalty even if you're under age 59. I'll give you a few of the more common exceptions, but to find a complete list, start with page 3 of the Form 5329 instructionsor consult with a well-qualified professional. [*If you have an employer-based plan and you're separated from service, you can start taking distributions penalty-free at age 55 instead of 59 1/2.] First, make sure you have a taxable withdrawal. If you've contributed to a Roth IRA, or made non-deductible contributions to a Traditional IRA (or the equivalent employer-based plans), then part or all of your contribution might be tax-free. With Roth IRA distributions, all of your distributions are tax- and penalty-free until you've distributed an amount equal to your contributions to the plan. (If you've converted Traditional IRA money to a Roth, you'll have to wait five years before withdrawing these funds without a penalty.) With Traditional IRAs, the formula is more complicated…basically a portion of your distribution is non-taxable based on the portion of your IRA value that comes from non-deductible contributions. See Form 8606 for the details of that calculation. The amount of your distribution that is tax-free will also be penalty-free. Once you've determined some or all of your distribution is taxable, you'll want to start looking for exceptions to the early withdrawal penalty. Some of the most common ways we find to avoid these penalties relate to education and medical expenses. Unemployed individuals are generally able to avoid the penalty for amounts equal to what they pay for health insurance. And if you had major medical expenses (greater than 7.5% of your income), you may be able to exclude part of these costs from penalty as well. Students are able to avoid the penalty for amounts equal to what they pay for qualified education expenses. And here's a little known twist on education…if you're at least a half-time student, you can include an allowance for room and board in your "qualified education expenses"–even though room and board is usually not considered an education expense for most purposes. Your school's financial aid department should be able to help you determine the official room and board allowance for your school. Some other exceptions exist, and they might be worth looking into depending on how large your penalty might be, but they're unlikely to apply if you took a withdrawal due to financial need. If you're considering a withdrawal, and considering a home purchase, be aware that there's a $10,000 exception for qualified "first-time home buyers" (which includes taxpayers who haven't owned their home in the last two years). This exception can be used by both spouses, so it can be exclude $20,000 from penalty on a joint return. This exception can be used once in your lifetime. Of if you're in your 50′s, you might be able to take advantage of an exception that applies to a series of substantially equal payments made over a series of years. The payments must last at least 5 years or until you reach age 59 1/2, whichever is later, so this requires careful planning. Be aware that some of these exceptions apply to individual retirement accounts like IRAs, some to employer plans like 401k's, and some apply to both types of plans. Before applying any of these exceptions, or taking any action based on the intent of applying any of these exceptions, make sure you do your homework or consult a professional. And without further ado, here's what the IRS had to say on the topic: ...read more
By Class 5 Tax March 15, 2011
Many people give money to family members as a gift in their time of need or if they come into a substantial amount of money. Giving money to a family member can sometimes be taxed; however, there are ways to avoid this this and give money to family members free of tax. ...read more
Many people have opted to learn to file their taxes themselves. This is a great way to save money, and it puts people in control of their own tax return. The process can be confusing, but there are enough resources to learn the correct method. ...read more