a better way to do your taxes
Services Available
 Data Conversion |
 Preparation & Review |
 Audit & Correspondence |
 Planning & Strategy |
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Data Conversion
If somebody else did your return last year and now you're doing your own, you probably need a data conversion. Data conversions are also helpful if you need to amend a prior year return and all you have is the physical print-out or a PDF copy.
In a data conversion, we take your completed tax return and put it into the digital format used by your tax software. By doing so, we make sure you're starting with accurate numbers. If you try to amend a tax return starting from inaccurate data, or try to complete a new tax return using inaccurate numbers from last year, you're going to have big problems. Making sure you start with the right information is one of the most challenging aspects of using a tax software program for the first time. It's the number one reason people who try to do their own taxes give up in frustration.
If you don't transfer all of your information accurately, you can literally cost yourself thousands of dollars by missing things like: unused credit carryovers, capital loss carryovers, passive loss carryovers, charitable deduction carryovers, data needed for taxable refund calculations, AMT carryovers, prior depreciation, Net Operating Losses, and other items. You got all that? Don't worry, we'll take care of it for you!
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Preparation & Review
Class 5 Tax Service has the years of experience and training necessary to give you absolute confidence that your return is prepared correctly and you're receiving the maximum legal refund. And we can provide you with this confidence by preparing your return for you, or by just reviewing your work.
If you don't want to deal with trying to do your own taxes at all, Class 5 will handle everything for you at a very competitive price. Most people find our prices lower than what they'd pay for the same return at a chain store. And unlike the chain stores, at Class 5 you only work with highly trained professionals. Our minimum hiring requirement is five years as a registered tax preparer--and you'll usually be working with somebody with a higher-level designation such as Enrolled Agent or CPA. You will never deal with a tax preparer whose only training is a 60-hour class the previous fall. (Yes, that is the minimum requirement at most chain stores and many of their professionals have only just met this requirement.)
But if you're a more hands-on type of person, or you just want to save significant money, you can do your own return with inexpensive, widely available software. We'll review your work for you, so you can be assured you haven't made any costly mistakes, and charge you a fraction of the normal fees.
If you use TurboTax, we can even go further. We can import your information directly if you used either of those programs, which allows us to e-file your return for you, possibly saving you extra fees and hassle. And, if there are areas of your return you're uncomfortable with, we'll do that part for you. Because we only do part of the return, you still save significant money.
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Audits & Correspondence
Few things in life are as nerve-wracking as a letter from the IRS.
If you've received a letter from the IRS, don't just agree to pay more money! Many times the IRS is mistaken when they attempt to collect additional tax. Often the situation can be cleared up by mailing in a simple form.
Contact us as soon as you receive a letter from the IRS and we'll help you understand any correspondance you receive from the IRS. We'll explain your options and advise you how to proceed. Many IRS inquiries can be cleared up with a letter. But if necessary, we can also represent you before the IRS.
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Tax Planning & Strategy
Need some direction?
Class 5 Tax is here to help you make sense of how events in your life will affect your tax situation. Getting married? Divorced? Buying or selling property? Need to take a distribution from your 401(k)?
Most people don't think about the consequences of their decisions until tax season...when it's usually too late to do anything!
We've seen an individual make a fairly simple to sell stock, and then buy the same stock within an IRA...a seemingly simple decision that cost this taxpayer over $7,000! Another client took retirement distributions toward the end of the year - that could have been partially delayed until the next year - and went into a higher income tax bracket. This cost an extra $4,000! Those are just a couple examples of how people can cost themselves thousands of dollars by not getting good tax advice before making financial decisions.
A 30 minute consultation can save you thousands! Even if it doesn't, isn't the peace of mind worth it?
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Class 5 Tax
1300 Clay St, Suite 600
Oakland, CA 94612
What our clients say...
"You are very clear, knowledgeable and competent... AND very kind and patient when I obviously have little or absolutely no clue sometimes with the simplest of things involving numbers and finances. Thank you..."
-Sonja
"That advice [resulted in] an $8K swing to a refund from a tax debt. After reading your detailed rationale, I felt even more confident that the service that I was getting was the service that I needed."
-Anthony
Over $75,000 in Savings Found in 2011 for Registered Domestic Partners and Same-Sex Spouses!