With tax time coming up I need to find someone to prepare them. Where to go? HRBlock or an accountant.?

Question

I have done my taxed in the past but taxes a getting too complicated. What would be best, a tax preparer like H&R Block or a CPA? Which one would cost the most?

Answer 1

CPA is likely to cost more. H&R Block is probably going to get slammed in these answers, but I'll give you a few pointers. Call ahead and make an appointment with a specific tax professional. Ask for someone who is a "tax advisor' or 'senior tax advisor' - this ensures they have at least 5 years in the field. Also, when you make your appointment, let them know what kinds of issues you have, and why it is complex.This will help them to match you with the proper tax professional.
In some areas, you can actually go online to HRBLOCK.com, find an office in your area, and then choose the tax professional who best meets your needs. My bio is posted online, and I already have clients making appointments to see me - kind of fun. But, it is currently being test marketed, so that feature might not be available in your area.
Good luck, and e-mail me if you have problems

Answer 2

You don't say where you live, but my general thought is that if you have a simple return, go to Block. If you want any refund you may be entitled to more quickly than the IRS sends them back, go to Block, but be prepared to pay handsomly for that portion of the service.

The rates at Block are determined largely "by form," or portions of forms that need to be prepared. IRS-required worksheets you pay for, too, of course. Typically, accountants or CPAs will charge more for return as a whole and can be based on hourly rates that really don't reflect the difficulty of preparing the return.

That said, the suggestion is based on your market: some Block offices are excellently staffed and others aren't. In my market, the Block-owned offices are better than the Block-franchises. Also, I think you're more likely to get better preparers in better educated communities because that is Block's hiring pool. (Although I guess the same could be said for accountants...)

Also, if you go to Block, be sure to ask for the experience of your preparer. Block does an excellent job of training its preparers, but unless yours is a very simple return, a first year preparer is just a first year preparer. Each year, the preparers get update training on top of whatever specialties they want to do. Some do the minimum, and some spend many hours throughout the year in training. ASK!!!Experience counts and it won't cost YOU more at Block even though the more experienced preparers get paid more. And specifically ask what experience your preparer has in the areas that make your return complicated.

If you go to a "Premium" office of H&R Block, you will pay a premium, but probably get a very good enrolled agent (EA). You really don't need that if yours is a simple return, but if you have a business, for example, I think it's sometimes worth the extra cost. An EA takes a special (and pretty difficult) exam and can represent you before the IRS. A good EA, I think, is a better choice to do a difficult tax return than an accountant because they train ONLY in taxes and not in other aspects of accounting.

If you do go to Block, definitely pay the extra few bucks for the so-called peace-of-mind plan--it's the best deal going if you end up getting an IRS letter or audit. Remember that audits are done all the time even for low-wage individuals, and if you don't want to do your own taxes in the first place, you certainly won't want to deal with an audit!

Good luck...

Answer 3

Working for an Attorney, I've seen many people who have come and gone using either H&R or a CPA. In my experience, H&R Block makes many more mistakes and doesn't get you the most money back necessarily. The people who work there do not usually have a degree or any qualification under the training they received at work. They use an online program to submit your information. Use a CPA. They know the law and can get you the most money back possible. They will cost a bit more, but you get what you pay for.

Answer 4

Before I owned a business I always used a tax service like H&R. During those years my income consisted of salary and a little investment income. Tax prep was basic and easy.

Now that I have a business and many investments I use a CPA who gives me the kind of advice I would not expect from H&R.

Of course, the CPA costs more.

Wishing you success and a Merry Christmas

Answer 5

The answer above is a good one. Storefront tax companies are usually alright for basic returns, but for more advanced returns their employees often do not have the necessary knowledge and experience.